Advanced Drainage Systems (NYSE:WMS) Reaches New 52-Week Low – Here’s What Happened

Advanced Drainage Systems, Inc. (NYSE:WMS)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $113.10 and last traded at $114.11, with a volume of 37035 shares. The stock had previously closed at $115.58.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WMS. Robert W. Baird dropped their target price on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Oppenheimer cut their target price on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Loop Capital reduced their price target on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Stephens reissued an “equal weight” rating and issued a $135.00 price objective (down previously from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Finally, Barclays decreased their price target on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Stock Performance

The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15. The company has a market cap of $8.88 billion, a P/E ratio of 18.25, a PEG ratio of 1.22 and a beta of 1.48. The stock’s 50-day moving average price is $134.66 and its 200-day moving average price is $149.48.

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

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

Hedge Funds Weigh In On Advanced Drainage Systems

Several institutional investors have recently made changes to their positions in WMS. CIBC Asset Management Inc lifted its position in shares of Advanced Drainage Systems by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 2,271 shares of the construction company’s stock worth $357,000 after buying an additional 79 shares in the last quarter. CWM LLC grew its stake in Advanced Drainage Systems by 18.1% in the 3rd quarter. CWM LLC now owns 555 shares of the construction company’s stock valued at $87,000 after buying an additional 85 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Advanced Drainage Systems by 4.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,411 shares of the construction company’s stock valued at $379,000 after purchasing an additional 111 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Advanced Drainage Systems by 20.5% in the third quarter. UMB Bank n.a. now owns 693 shares of the construction company’s stock worth $109,000 after buying an additional 118 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its stake in Advanced Drainage Systems by 8.8% in the 3rd quarter. QRG Capital Management Inc. now owns 1,638 shares of the construction company’s stock worth $257,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Company Profile

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.