Advanced Drainage Systems, Inc. (WMS) Receives $26.00 Consensus PT from Brokerages

Advanced Drainage Systems, Inc. (NYSE:WMS) has been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $26.00.

Several equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Advanced Drainage Systems from a “buy” rating to a “sell” rating in a research report on Thursday, August 10th. ValuEngine cut shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Citigroup assumed coverage on shares of Advanced Drainage Systems in a research report on Wednesday, November 29th. They issued a “neutral” rating and a $26.00 price objective for the company. Finally, TheStreet cut shares of Advanced Drainage Systems from a “b-” rating to a “c+” rating in a research report on Wednesday, October 25th.

In related news, EVP Robert M. Klein sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 340,205 shares in the company, valued at $7,066,057.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.43% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in WMS. BNP Paribas Arbitrage SA lifted its stake in Advanced Drainage Systems by 133.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,259 shares of the construction company’s stock valued at $106,000 after buying an additional 3,006 shares in the last quarter. Manchester Capital Management LLC lifted its stake in Advanced Drainage Systems by 1.0% in the second quarter. Manchester Capital Management LLC now owns 9,770 shares of the construction company’s stock valued at $196,000 after buying an additional 100 shares in the last quarter. Sei Investments Co. lifted its stake in Advanced Drainage Systems by 44.8% in the second quarter. Sei Investments Co. now owns 10,347 shares of the construction company’s stock valued at $208,000 after buying an additional 3,199 shares in the last quarter. FMR LLC bought a new position in Advanced Drainage Systems in the second quarter valued at approximately $245,000. Finally, Jane Street Group LLC bought a new position in Advanced Drainage Systems in the third quarter valued at approximately $264,000. 80.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Advanced Drainage Systems (NYSE:WMS) traded down $0.35 during mid-day trading on Friday, reaching $23.15. 202,156 shares of the company traded hands, compared to its average volume of 362,279. Advanced Drainage Systems has a 12-month low of $17.90 and a 12-month high of $26.30. The company has a market cap of $1,333.96, a P/E ratio of 68.14 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 2.26 and a debt-to-equity ratio of 4.47.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, November 2nd. The construction company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.08). Advanced Drainage Systems had a net margin of 1.97% and a return on equity of 41.08%. The firm had revenue of $401.00 million for the quarter, compared to the consensus estimate of $376.45 million. During the same period in the prior year, the business earned $0.35 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. equities research analysts predict that Advanced Drainage Systems will post 0.53 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 30th. Advanced Drainage Systems’s dividend payout ratio is 75.68%.

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About Advanced Drainage Systems

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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