Advanced Drainage Systems (NYSE:WMS) Sets New 12-Month Low – Here’s Why

Advanced Drainage Systems, Inc. (NYSE:WMS)’s stock price reached a new 52-week low on Friday . The company traded as low as $112.01 and last traded at $113.38, with a volume of 50463 shares changing hands. The stock had previously closed at $115.02.

Analysts Set New Price Targets

Several analysts have commented on WMS shares. Barclays lowered their target price on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. KeyCorp dropped their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Robert W. Baird dropped their price objective on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Loop Capital cut their price objective on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, Oppenheimer reduced their price objective on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus target price of $168.38.

Advanced Drainage Systems Trading Down 1.9 %

The business has a 50 day moving average price of $127.38 and a 200-day moving average price of $145.71. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The firm had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. During the same period in the previous year, the firm posted $1.71 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts expect that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio (DPR) is 10.19%.

Institutional Investors Weigh In On Advanced Drainage Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Northcape Capital Pty Ltd increased its stake in shares of Advanced Drainage Systems by 32.1% in the fourth quarter. Northcape Capital Pty Ltd now owns 16,509 shares of the construction company’s stock worth $1,908,000 after buying an additional 4,016 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Advanced Drainage Systems by 6.1% during the 4th quarter. Nordea Investment Management AB now owns 73,203 shares of the construction company’s stock worth $8,554,000 after buying an additional 4,221 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Advanced Drainage Systems in the fourth quarter worth $230,000. Anchor Investment Management LLC increased its stake in Advanced Drainage Systems by 31.8% during the third quarter. Anchor Investment Management LLC now owns 2,011 shares of the construction company’s stock valued at $316,000 after purchasing an additional 485 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Advanced Drainage Systems by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,186,878 shares of the construction company’s stock worth $186,578,000 after buying an additional 59,158 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.