Advanced Drainage Systems (NYSE:WMS) Stock Gets Price Target Reduction from Royal Bank Of Canada

Advanced Drainage Systems (NYSE:WMS) had its target price cut by Royal Bank Of Canada from $178.00 to $170.00 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Other equities research analysts have also issued reports about the stock. KeyCorp reiterated an “overweight” rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. Robert W. Baird set a $206.00 price objective on shares of Advanced Drainage Systems in a research note on Friday, August 7th. UBS Group upped 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. Zacks Research raised Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, DA Davidson reiterated a “buy” rating and set a $190.00 target price on shares of Advanced Drainage Systems in a research report on Tuesday, October 6th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average target price of $187.40.

Advanced Drainage Systems Stock Performance

Shares of WMS opened at $128.03 on Wednesday. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.47 and a beta of 1.29. Advanced Drainage Systems has a 52-week low of $122.84 and a 52-week high of $179.32. The company has a quick ratio of 1.18, a current ratio of 2.12 and a debt-to-equity ratio of 0.95. The stock has a 50 day moving average price of $133.43 and a 200 day moving average price of $140.05.

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, topping analysts’ consensus estimates of $2.10 by $0.39. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the company earned $1.95 earnings per share. Research analysts predict that Advanced Drainage Systems will post 6.57 EPS for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

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

Hedge Funds Weigh In On Advanced Drainage Systems

Hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Advanced Drainage Systems in the 2nd quarter valued at $1,172,482,000. Pictet Asset Management Holding SA boosted its stake in Advanced Drainage Systems by 32.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock worth $302,290,000 after purchasing an additional 546,298 shares during the period. Amundi grew its position in Advanced Drainage Systems by 5.1% during the 2nd quarter. Amundi now owns 1,354,610 shares of the construction company’s stock worth $212,681,000 after purchasing an additional 65,938 shares during the last quarter. KBC Group NV grew its position in Advanced Drainage Systems by 1.7% during the 1st quarter. KBC Group NV now owns 916,981 shares of the construction company’s stock worth $125,746,000 after purchasing an additional 14,915 shares during the last quarter. Finally, Bamco Inc. NY purchased a new position in Advanced Drainage Systems during the 2nd quarter worth $106,800,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Drainage Systems

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.