Advanced Drainage Systems, Inc. (NYSE:WMS) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Advanced Drainage Systems, Inc. (NYSE:WMS) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $139.88.

WMS has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a “buy” rating and a $134.00 price objective on the stock. Robert W. Baird dropped their target price on Advanced Drainage Systems from $146.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Wall Street Zen downgraded Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Oppenheimer dropped their target price on Advanced Drainage Systems from $165.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Finally, Loop Capital dropped their target price on Advanced Drainage Systems from $143.00 to $133.00 and set a “buy” rating for the company in a research report on Friday, May 16th.

Hedge Funds Weigh In On Advanced Drainage Systems

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE boosted its holdings in Advanced Drainage Systems by 5.7% in the first quarter. US Bancorp DE now owns 2,017 shares of the construction company’s stock valued at $219,000 after purchasing an additional 109 shares in the last quarter. Bessemer Group Inc. lifted its stake in Advanced Drainage Systems by 76.2% in the first quarter. Bessemer Group Inc. now owns 266 shares of the construction company’s stock valued at $29,000 after buying an additional 115 shares during the last quarter. Phoenix Financial Ltd. lifted its stake in Advanced Drainage Systems by 5.2% in the first quarter. Phoenix Financial Ltd. now owns 2,463 shares of the construction company’s stock valued at $269,000 after buying an additional 121 shares during the last quarter. Isthmus Partners LLC lifted its stake in Advanced Drainage Systems by 5.5% in the first quarter. Isthmus Partners LLC now owns 2,875 shares of the construction company’s stock valued at $312,000 after buying an additional 150 shares during the last quarter. Finally, Applied Finance Capital Management LLC lifted its stake in Advanced Drainage Systems by 8.7% in the first quarter. Applied Finance Capital Management LLC now owns 1,896 shares of the construction company’s stock valued at $206,000 after buying an additional 152 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Stock Down 1.5%

Shares of WMS opened at $120.37 on Friday. The firm has a market cap of $9.35 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. Advanced Drainage Systems has a 12-month low of $93.92 and a 12-month high of $179.57. The company’s 50-day moving average price is $115.67 and its 200 day moving average price is $114.55. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 0.90.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, May 15th. The construction company reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.06). The company had revenue of $615.76 million during the quarter, compared to analysts’ expectations of $653.22 million. Advanced Drainage Systems had a net margin of 15.50% and a return on equity of 32.33%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 earnings per share. On average, sell-side analysts forecast that Advanced Drainage Systems will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, May 30th. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.60%. Advanced Drainage Systems’s payout ratio is currently 12.50%.

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.