Advanced Drainage Systems Inc (NYSE:WMS) Given Average Recommendation of “Hold” by Brokerages

Advanced Drainage Systems Inc (NYSE:WMS) has earned a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $31.00.

WMS has been the topic of several research analyst reports. Zacks Investment Research upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Friday, April 12th. ValuEngine upgraded Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd.

Shares of WMS stock traded down $0.36 during trading hours on Monday, hitting $32.64. 391,900 shares of the company’s stock were exchanged, compared to its average volume of 268,623. The company has a 50-day moving average price of $30.55. The company has a current ratio of 2.26, a quick ratio of 0.98 and a debt-to-equity ratio of 1.24. The firm has a market cap of $1.91 billion, a PE ratio of 26.75 and a beta of 0.95. Advanced Drainage Systems has a 52 week low of $23.04 and a 52 week high of $33.50.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, May 23rd. The construction company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. The company had revenue of $272.22 million for the quarter, compared to analysts’ expectations of $274.41 million. Advanced Drainage Systems had a return on equity of 37.25% and a net margin of 5.39%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. As a group, research analysts expect that Advanced Drainage Systems will post 1.36 earnings per share for the current year.

The company also recently declared a special dividend, which was paid on Friday, June 14th. Investors of record on Monday, June 3rd were issued a $1.00 dividend. This is a boost from Advanced Drainage Systems’s previous special dividend of $0.08. The ex-dividend date was Friday, May 31st. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 29.51%.

A number of institutional investors have recently bought and sold shares of WMS. Norges Bank bought a new position in Advanced Drainage Systems in the fourth quarter valued at about $24,393,000. Beck Mack & Oliver LLC bought a new position in Advanced Drainage Systems in the first quarter valued at about $18,823,000. Marshall Wace LLP boosted its holdings in Advanced Drainage Systems by 1,497.6% in the first quarter. Marshall Wace LLP now owns 705,918 shares of the construction company’s stock valued at $18,191,000 after acquiring an additional 661,733 shares during the last quarter. Martingale Asset Management L P boosted its holdings in Advanced Drainage Systems by 198.1% in the first quarter. Martingale Asset Management L P now owns 174,721 shares of the construction company’s stock valued at $4,503,000 after acquiring an additional 116,114 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Advanced Drainage Systems in the first quarter valued at about $2,735,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

About Advanced Drainage Systems

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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