Analysts Set Advanced Drainage Systems Inc (NYSE:WMS) Target Price at $32.00

Shares of Advanced Drainage Systems Inc (NYSE:WMS) have received an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $32.00.

WMS has been the subject of a number of research analyst reports. TheStreet lowered Advanced Drainage Systems from a “b” rating to a “c” rating in a research note on Friday, August 2nd. Zacks Investment Research lowered Advanced Drainage Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. ValuEngine lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Barclays lifted their target price on Advanced Drainage Systems from $29.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 6th.

Shares of WMS stock traded down $0.36 on Friday, reaching $32.76. 313,575 shares of the company’s stock were exchanged, compared to its average volume of 637,122. Advanced Drainage Systems has a 52 week low of $23.04 and a 52 week high of $35.29. The company has a current ratio of 1.97, a quick ratio of 1.03 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $1.93 billion, a PE ratio of 26.85 and a beta of 0.88. The company’s fifty day simple moving average is $32.31 and its 200 day simple moving average is $29.85.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.29). Advanced Drainage Systems had a positive return on equity of 34.94% and a negative net margin of 12.86%. The business had revenue of $413.70 million for the quarter, compared to the consensus estimate of $413.64 million. During the same period in the prior year, the business posted $0.51 earnings per share. Advanced Drainage Systems’s revenue was up 6.7% on a year-over-year basis. As a group, sell-side analysts predict that Advanced Drainage Systems will post -3.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, August 29th. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 1.10%. Advanced Drainage Systems’s payout ratio is 29.51%.

In other news, major shareholder Berkshire Partners Holdings Ll bought 68,310 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $29.75 per share, with a total value of $2,032,222.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ross M. Jones bought 2,000,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $29.75 per share, with a total value of $59,500,000.00. Following the completion of the transaction, the director now owns 10,507 shares in the company, valued at $312,583.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 2,135,310 shares of company stock valued at $63,525,473. 20.84% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of WMS. Point72 Asset Management L.P. bought a new position in shares of Advanced Drainage Systems in the 2nd quarter worth $85,000. Quantamental Technologies LLC raised its position in shares of Advanced Drainage Systems by 27.7% in the 2nd quarter. Quantamental Technologies LLC now owns 2,682 shares of the construction company’s stock worth $88,000 after acquiring an additional 582 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Advanced Drainage Systems in the 2nd quarter worth $101,000. NumerixS Investment Technologies Inc raised its position in shares of Advanced Drainage Systems by 109.5% in the 1st quarter. NumerixS Investment Technologies Inc now owns 4,400 shares of the construction company’s stock worth $112,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Advanced Drainage Systems in the 2nd quarter worth $135,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

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