Advanced Drainage Systems Inc (WMS) Receives $29.33 Average Target Price from Analysts

Shares of Advanced Drainage Systems Inc (NYSE:WMS) have been given an average rating of “Hold” by the six brokerages that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $29.33.

A number of brokerages recently commented on WMS. Zacks Investment Research upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Friday, February 22nd. Citigroup lowered their price objective on Advanced Drainage Systems from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, January 4th. Finally, Barclays lowered their price objective on Advanced Drainage Systems from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 12th.

In related news, EVP Ronald R. Vitarelli sold 2,500 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.47, for a total value of $63,675.00. Following the completion of the sale, the executive vice president now directly owns 30,285 shares in the company, valued at $771,358.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 20.97% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Pearl River Capital LLC bought a new position in Advanced Drainage Systems during the fourth quarter worth about $26,000. Tortoise Index Solutions LLC bought a new position in Advanced Drainage Systems during the fourth quarter worth about $39,000. NumerixS Investment Technologies Inc boosted its holdings in Advanced Drainage Systems by 250.0% during the fourth quarter. NumerixS Investment Technologies Inc now owns 2,100 shares of the construction company’s stock worth $51,000 after buying an additional 1,500 shares during the last quarter. Quantamental Technologies LLC bought a new position in Advanced Drainage Systems during the fourth quarter worth about $56,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Advanced Drainage Systems by 5,933.3% during the third quarter. Tower Research Capital LLC TRC now owns 4,344 shares of the construction company’s stock worth $134,000 after buying an additional 4,272 shares during the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Shares of NYSE:WMS traded up $0.23 during midday trading on Friday, reaching $25.77. The company’s stock had a trading volume of 152,377 shares, compared to its average volume of 275,238. Advanced Drainage Systems has a fifty-two week low of $23.04 and a fifty-two week high of $33.50. The firm has a market cap of $1.46 billion, a PE ratio of 31.81 and a beta of 0.99. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 2.24.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, February 7th. The construction company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.06). The business had revenue of $318.11 million during the quarter, compared to analyst estimates of $339.61 million. Advanced Drainage Systems had a net margin of 4.98% and a return on equity of 37.87%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. On average, analysts anticipate that Advanced Drainage Systems will post 1.18 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.32 dividend on an annualized basis and a yield of 1.24%. Advanced Drainage Systems’s payout ratio is 39.51%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

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