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

Advanced Drainage Systems Inc (NYSE:WMS) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $42.80.

A number of research analysts have recently weighed in on the stock. ValuEngine cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Bank of America began coverage on Advanced Drainage Systems in a research note on Tuesday. They issued a “buy” rating and a $46.00 target price on the stock. Robert W. Baird set a $68.00 target price on Advanced Drainage Systems and gave the company a “hold” rating in a report on Friday, October 18th. Zacks Investment Research reissued a “hold” rating and set a $38.00 price target on shares of Advanced Drainage Systems in a research report on Saturday, October 12th. Finally, Barclays boosted their price target on Advanced Drainage Systems from $29.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 6th.

NYSE WMS traded up $0.86 during trading hours on Thursday, reaching $38.64. The company’s stock had a trading volume of 17,049 shares, compared to its average volume of 356,946. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.31 and a current ratio of 2.34. The company’s 50-day moving average is $36.99 and its two-hundred day moving average is $33.14. Advanced Drainage Systems has a fifty-two week low of $23.04 and a fifty-two week high of $39.69. The stock has a market cap of $2.61 billion, a PE ratio of 31.72 and a beta of 0.92.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, November 7th. The construction company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.41). Advanced Drainage Systems had a positive return on equity of 18.28% and a negative net margin of 13.50%. The business had revenue of $495.90 million for the quarter, compared to analyst estimates of $473.84 million. During the same quarter in the previous year, the firm posted $0.45 EPS. The business’s revenue was up 22.0% on a year-over-year basis. Equities analysts expect that Advanced Drainage Systems will post -2.96 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 29.51%.

In other Advanced Drainage Systems news, EVP Roy E. Jr. Moore acquired 67,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $29.75 per share, for a total transaction of $1,993,250.00. Following the completion of the acquisition, the executive vice president now directly owns 78,288 shares of the company’s stock, valued at $2,329,068. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexander R. Fischer sold 10,000 shares of Advanced Drainage Systems stock in a transaction on Monday, November 18th. The shares were sold at an average price of $36.68, for a total value of $366,800.00. Following the completion of the sale, the director now directly owns 29,709 shares of the company’s stock, valued at approximately $1,089,726.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 2,462,193 shares of company stock worth $73,912,528 and have sold 1,057,000 shares worth $39,528,500. 20.84% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new position in shares of Advanced Drainage Systems during the 2nd quarter valued at about $85,000. Quantamental Technologies LLC grew its stake in shares of Advanced Drainage Systems by 27.7% during the 2nd quarter. Quantamental Technologies LLC now owns 2,682 shares of the construction company’s stock valued at $88,000 after buying an additional 582 shares during the period. Bank of Montreal Can acquired a new stake in shares of Advanced Drainage Systems during the 2nd quarter worth $101,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Advanced Drainage Systems by 16.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,060 shares of the construction company’s stock worth $131,000 after buying an additional 586 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Advanced Drainage Systems in the 2nd quarter worth $135,000. Hedge funds and other institutional investors own 81.21% of the company’s stock.

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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