Advanced Drainage Systems Inc. (WMS) Given Outperform Rating at RBC Capital Markets
Advanced Drainage Systems Inc. (NYSE:WMS)‘s stock had its “outperform” rating reiterated by investment analysts at RBC Capital Markets in a report released on Saturday. They currently have a $26.00 price objective on the stock, down from their prior price objective of $29.00. RBC Capital Markets’ price target indicates a potential upside of 17.33% from the stock’s current price.
WMS has been the topic of several other reports. Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Boenning Scattergood cut Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. Royal Bank Of Canada lowered their price objective on Advanced Drainage Systems from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, TheStreet raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Thursday. 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 stock. The stock presently has an average rating of “Hold” and an average target price 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 12 month low of $17.72 and a 12 month high of $32.40. The stock 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 released its quarterly earnings data 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, equities research analysts forecast that Advanced Drainage Systems will post $1.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 1.08%.
Institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Ltd. purchased a new position in Advanced Drainage Systems during the second quarter valued at $26,888,000. Impax Asset Management LTD boosted its position in Advanced Drainage Systems by 76.9% in the second quarter. Impax Asset Management LTD now owns 1,062,967 shares of the company’s stock valued at $29,093,000 after buying an additional 462,091 shares during the last quarter. Kalmar Investments Inc. DE purchased a new position in Advanced Drainage Systems during the second quarter valued at $11,709,000. Schroder Investment Management Group purchased a new position in Advanced Drainage Systems during the second quarter valued at $11,386,000. Finally, JPMorgan Chase & Co. boosted its position in Advanced Drainage Systems by 78.8% in the second quarter. JPMorgan Chase & Co. now owns 890,454 shares of the company’s stock valued at $24,372,000 after buying an additional 392,451 shares during the last quarter. 70.62% 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 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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