Advanced Drainage Systems’ (WMS) Buy Rating Reiterated at DA Davidson

DA Davidson reissued their buy rating on shares of Advanced Drainage Systems (NYSE:WMS) in a research note released on Tuesday morning, MarketBeat Ratings reports. DA Davidson currently has a $190.00 price target on the construction company’s stock.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Friday, July 17th. UBS Group increased their price objective on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Jefferies Financial Group assumed coverage on shares of Advanced Drainage Systems in a research report on Thursday, June 11th. They issued a “buy” rating and a $175.00 target price on the stock. Robert W. Baird set a $206.00 target price on shares of Advanced Drainage Systems in a research note on Friday, August 7th. Finally, Royal Bank Of Canada upped their price target on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $188.70.

Advanced Drainage Systems Price Performance

Shares of WMS stock opened at $126.13 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 2.12 and a debt-to-equity ratio of 0.95. Advanced Drainage Systems has a twelve month low of $122.90 and a twelve month high of $179.32. The company has a market cap of $9.51 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.38 and a beta of 1.29. The business has a fifty day simple moving average of $135.76 and a 200 day simple moving average of $140.47.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.39. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $991.39 million. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.Advanced Drainage Systems’s revenue was up 20.6% compared to the same quarter last year. During the same period last year, the firm posted $1.95 earnings per share. On average, sell-side analysts forecast that Advanced Drainage Systems will post 6.62 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.20 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.80 annualized dividend and a yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio is presently 13.82%.

Institutional Investors Weigh In On Advanced Drainage Systems

A number of institutional investors have recently modified their holdings of WMS. Allworth Financial LP bought a new position in Advanced Drainage Systems during the second quarter worth $26,000. SJS Investment Consulting Inc. boosted its position in Advanced Drainage Systems by 78.1% during the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock valued at $33,000 after acquiring an additional 107 shares during the last quarter. Avalon Trust Co bought a new stake in Advanced Drainage Systems during the second quarter valued at $42,000. Vega Investment Solutions acquired a new stake in Advanced Drainage Systems during the 2nd quarter worth about $50,000. Finally, Bessemer Group Inc. grew its holdings in Advanced Drainage Systems by 70.3% during the 1st quarter. Bessemer Group Inc. now owns 395 shares of the construction company’s stock worth $54,000 after acquiring an additional 163 shares during the period. 89.83% of the stock is owned by institutional investors.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE:WMS) designs and manufactures water management solutions for infrastructure, construction, agriculture and residential applications. The company is best known for its thermoplastic corrugated pipe and related products used to manage stormwater, drainage and wastewater.

Its product portfolio includes stormwater detention and treatment systems, drainage pipe, septic wastewater systems, fittings, chambers, pumps and other water management components. Advanced Drainage Systems also provides products for agricultural drainage, commercial and residential construction, and large-scale infrastructure projects.

Founded in 1966 and headquartered in Hilliard, Ohio, the company serves customers primarily across North America through manufacturing facilities, distribution centers and a network of independent distributors.