Advanced Drainage Systems (NYSE:WMS) Price Target Raised to $35.00

Advanced Drainage Systems (NYSE:WMS) had its price objective lifted by Barclays from $29.00 to $35.00 in a research report released on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the construction company’s stock.

Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Advanced Drainage Systems from a strong-buy rating to a hold rating and set a $37.00 price target for the company. in a research report on Sunday, July 14th. ValuEngine lowered shares of Advanced Drainage Systems from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, TheStreet lowered shares of Advanced Drainage Systems from a b rating to a c rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $33.25.

Shares of WMS opened at $33.83 on Tuesday. The company’s 50-day moving average is $32.77. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 27.73 and a beta of 0.95. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.97 and a quick ratio of 1.03. Advanced Drainage Systems has a 52 week low of $23.04 and a 52 week high of $35.29.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.29). Advanced Drainage Systems had a positive return on equity of 34.94% and a negative net margin of 12.86%. The business had revenue of $413.70 million during the quarter, compared to analyst estimates of $413.64 million. During the same period last year, the company earned $0.51 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts predict that Advanced Drainage Systems will post 1.52 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the business. Prudential Financial Inc. grew its stake in Advanced Drainage Systems by 5.2% during the second quarter. Prudential Financial Inc. now owns 9,713 shares of the construction company’s stock worth $318,000 after buying an additional 480 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in Advanced Drainage Systems by 4.5% during the second quarter. Commonwealth Equity Services LLC now owns 12,858 shares of the construction company’s stock worth $421,000 after buying an additional 550 shares during the last quarter. Legal & General Group Plc grew its stake in Advanced Drainage Systems by 5.0% during the fourth quarter. Legal & General Group Plc now owns 16,431 shares of the construction company’s stock worth $398,000 after buying an additional 779 shares during the last quarter. Stone Ridge Asset Management LLC grew its stake in Advanced Drainage Systems by 3.6% during the second quarter. Stone Ridge Asset Management LLC now owns 31,567 shares of the construction company’s stock worth $1,035,000 after buying an additional 1,100 shares during the last quarter. Finally, Investors Research Corp bought a new stake in Advanced Drainage Systems during the first quarter worth about $34,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

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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