Advanced Drainage Systems’ (WMS) Buy Rating Reiterated at Robert W. Baird
Robert W. Baird reissued their buy rating on shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in a research note issued to investors on Wednesday morning. Robert W. Baird currently has a $25.00 target price on the construction company’s stock.
Several other analysts have also recently issued reports on the stock. Boenning Scattergood reaffirmed a hold rating on shares of Advanced Drainage Systems in a report on Thursday, August 3rd. Zacks Investment Research raised shares of Advanced Drainage Systems from a sell rating to a buy rating and set a $22.00 price target on the stock in a report on Thursday, July 13th. BidaskClub raised shares of Advanced Drainage Systems from a strong sell rating to a sell rating in a report on Monday, July 31st. Finally, ValuEngine cut shares of Advanced Drainage Systems from a hold rating to a sell rating in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $24.00.
Advanced Drainage Systems (NYSE:WMS) opened at 20.10 on Wednesday. The company has a 50 day moving average of $20.06 and a 200-day moving average of $20.83. Advanced Drainage Systems has a 52-week low of $18.40 and a 52-week high of $26.30. The stock has a market capitalization of $1.11 billion, a P/E ratio of 40.77 and a beta of 0.94.
Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). The company had revenue of $358.36 million during the quarter, compared to analyst estimates of $372.63 million. Advanced Drainage Systems had a net margin of 2.50% and a return on equity of 62.10%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.29 earnings per share. Equities research analysts anticipate that Advanced Drainage Systems will post $1.09 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 annualized dividend and a yield of 1.39%. Advanced Drainage Systems’s payout ratio is 60.87%.
In other Advanced Drainage Systems news, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the stock in a transaction on Monday, August 7th. The stock was purchased at an average price of $20.32 per share, for a total transaction of $70,028,673.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert M. Klein sold 20,000 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $20.77, for a total transaction of $415,400.00. Following the sale, the executive vice president now owns 340,205 shares of the company’s stock, valued at approximately $7,066,057.85. The disclosure for this sale can be found here. 21.43% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Berkshire Partners LLC bought a new stake in Advanced Drainage Systems during the second quarter valued at $41,534,000. First Trust Advisors LP increased its stake in Advanced Drainage Systems by 28.4% during the second quarter. First Trust Advisors LP now owns 265,679 shares of the construction company’s stock valued at $5,340,000 after purchasing an additional 58,820 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Advanced Drainage Systems during the first quarter valued at $4,801,000. Wells Fargo & Company MN increased its stake in Advanced Drainage Systems by 19.3% during the first quarter. Wells Fargo & Company MN now owns 32,136 shares of the construction company’s stock valued at $703,000 after purchasing an additional 5,205 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Advanced Drainage Systems by 7.1% during the first quarter. Principal Financial Group Inc. now owns 30,454 shares of the construction company’s stock valued at $667,000 after purchasing an additional 2,023 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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