Advanced Drainage Systems Inc. (WMS) Given “Outperform” Rating at RBC Capital Markets
Advanced Drainage Systems Inc. (NYSE:WMS)‘s stock had its “outperform” rating restated by research analysts at RBC Capital Markets in a report issued on Saturday. They presently have a $26.00 price target on the stock, down from their previous price target of $29.00. RBC Capital Markets’ price objective indicates a potential upside of 17.33% from the stock’s previous close.
Several other analysts have also commented on WMS. Zacks Investment Research lowered Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a report on Friday, June 10th. TheStreet upgraded Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank Of Canada decreased their price objective on Advanced Drainage Systems from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Friday. Finally, Boenning Scattergood lowered Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a report on Thursday, August 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.75.
Advanced Drainage Systems (NYSE:WMS) opened at 22.16 on Friday. The stock has a 50 day moving average price of $23.67 and a 200 day moving average price of $24.62. Advanced Drainage Systems has a 1-year low of $17.72 and a 1-year high of $32.40. The stock has a market cap 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 announced its earnings results on Thursday, October 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.13. The business had revenue of $358 million for the quarter. Advanced Drainage Systems had a return on equity of 120.26% and a net margin of 1.60%. On average, analysts predict that Advanced Drainage Systems will post $1.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.08%.
Several institutional investors have recently added to or reduced their stakes in WMS. Teacher Retirement System of Texas raised its position in Advanced Drainage Systems by 32.2% in the second quarter. Teacher Retirement System of Texas now owns 5,636 shares of the company’s stock worth $154,000 after buying an additional 1,372 shares during the last quarter. Pitcairn Co. acquired a new stake in Advanced Drainage Systems during the second quarter worth approximately $224,000. Dynamic Technology Lab Private Ltd acquired a new stake in Advanced Drainage Systems during the second quarter worth approximately $287,000. Springbok Capital Management LLC acquired a new stake in Advanced Drainage Systems during the first quarter worth approximately $245,000. Finally, BlackRock Inc. boosted its stake in Advanced Drainage Systems by 11.3% in the first quarter. BlackRock Inc. now owns 14,542 shares of the company’s stock worth $309,000 after buying an additional 1,477 shares during the period. Institutional investors and hedge funds own 70.62% of the company’s stock.
About Advanced Drainage Systems
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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