Advanced Drainage Systems (NYSE:WMS) Announces Earnings Results, Beats Expectations By $0.10 EPS

Advanced Drainage Systems (NYSE:WMS) posted its earnings results on Thursday. The construction company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.10, FiscalAI reports. The company had revenue of $676.76 million for the quarter, compared to the consensus estimate of $651.92 million. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.Advanced Drainage Systems’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share.

Advanced Drainage Systems Stock Down 1.1%

Advanced Drainage Systems stock opened at $135.35 on Thursday. Advanced Drainage Systems has a 1-year low of $105.14 and a 1-year high of $179.32. The business has a fifty day moving average price of $142.80 and a 200-day moving average price of $150.22. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.12 and a quick ratio of 3.08. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 1.38 and a beta of 1.33.

Institutional Investors Weigh In On Advanced Drainage Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WMS. UMB Bank n.a. raised its position in Advanced Drainage Systems by 10.4% during the 4th quarter. UMB Bank n.a. now owns 1,174 shares of the construction company’s stock worth $170,000 after buying an additional 111 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of Advanced Drainage Systems in the fourth quarter worth $204,000. State of Wyoming raised its holdings in shares of Advanced Drainage Systems by 139.8% during the fourth quarter. State of Wyoming now owns 1,357 shares of the construction company’s stock worth $197,000 after purchasing an additional 791 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in Advanced Drainage Systems during the third quarter valued at $219,000. Finally, F m Investments LLC purchased a new position in shares of Advanced Drainage Systems during the 3rd quarter valued at about $220,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WMS has been the topic of several recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $195.00 price objective (down from $200.00) on shares of Advanced Drainage Systems in a research note on Friday, April 17th. Royal Bank Of Canada lifted their price target on shares of Advanced Drainage Systems from $176.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. UBS Group set a $215.00 price target on Advanced Drainage Systems and gave the company a “buy” rating in a report on Friday, February 6th. KeyCorp raised their price objective on Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Finally, Barclays dropped their price target on Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.83.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.