Advanced Drainage Systems Inc. (WMS) Upgraded to “Buy” by TheStreet
Several other equities research analysts also recently weighed in on WMS. Zacks Investment Research downgraded Advanced Drainage Systems from a hold rating to a sell rating in a research report on Thursday, August 11th. Royal Bank Of Canada upped their target price on Advanced Drainage Systems from $27.00 to $29.00 and gave the stock an outperform rating in a research report on Wednesday, June 8th. Boenning Scattergood downgraded Advanced Drainage Systems from an outperform rating to a neutral rating in a research report on Thursday, August 11th. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $25.00 target price (up previously from $24.00) on shares of Advanced Drainage Systems in a research report on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $28.33.
Advanced Drainage Systems (NYSE:WMS) traded up 2.69% on Thursday, reaching $22.16. The company had a trading volume of 964,270 shares. The company’s 50-day moving average is $23.67 and its 200-day moving average is $24.62. Advanced Drainage Systems has a 52-week low of $17.72 and a 52-week high of $32.40. The company has a market capitalization of $1.64 billion, a PE ratio of 82.07 and a beta of 0.85.
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Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, October 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.13. Advanced Drainage Systems had a return on equity of 120.26% and a net margin of 1.60%. The firm earned $358 million during the quarter. Equities analysts anticipate that Advanced Drainage Systems will post $1.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Tuesday, August 30th.
Several hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its position in shares of Advanced Drainage Systems by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 109,781 shares of the company’s stock worth $3,005,000 after buying an additional 1,950 shares during the period. Paloma Partners Management Co acquired a new position in shares of Advanced Drainage Systems during the second quarter worth about $1,069,000. Weiss Multi Strategy Advisers LLC acquired a new position in shares of Advanced Drainage Systems during the second quarter worth about $3,353,000. Guggenheim Capital LLC raised its position in shares of Advanced Drainage Systems by 23.4% in the second quarter. Guggenheim Capital LLC now owns 92,861 shares of the company’s stock worth $2,542,000 after buying an additional 17,607 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in shares of Advanced Drainage Systems by 135.6% in the second quarter. Parametric Portfolio Associates LLC now owns 110,771 shares of the company’s stock worth $3,032,000 after buying an additional 63,757 shares during the period. Institutional investors and hedge funds own 70.62% of the company’s stock.
Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc designs, manufactures and markets thermoplastic corrugated pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products.
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