Advanced Drainage Systems Inc (WMS) Stock Rating Reaffirmed by Royal Bank of Canada
Advanced Drainage Systems Inc (NYSE:WMS)‘s stock had its “hold” rating restated by research analysts at Royal Bank of Canada in a research note issued on Friday.
Other equities research analysts also recently issued reports about the company. Boenning Scattergood reissued a “hold” rating on shares of Advanced Drainage Systems in a research note on Thursday. Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Advanced Drainage Systems presently has an average rating of “Hold” and a consensus price target of $26.33.
Advanced Drainage Systems (NYSE:WMS) traded down 2.024% on Friday, hitting $20.575. The stock had a trading volume of 309,738 shares. The stock has a 50-day moving average of $22.44 and a 200-day moving average of $22.10. The company has a market cap of $1.13 billion, a PE ratio of 33.730 and a beta of 1.09. Advanced Drainage Systems has a one year low of $18.60 and a one year high of $28.49.
Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, May 25th. The construction company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.14. Advanced Drainage Systems had a net margin of 3.82% and a return on equity of 177.47%. The company had revenue of $244.20 million for the quarter, compared to analysts’ expectations of $228.82 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts expect that Advanced Drainage Systems will post $1.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, June 5th will be paid a dividend of $0.07 per share. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, June 1st. This represents a $0.28 annualized dividend and a yield of 1.33%. Advanced Drainage Systems’s dividend payout ratio is presently 32.00%.
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In related news, COO Ronald R. Vitarelli sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $22.37, for a total transaction of $134,220.00. Following the completion of the sale, the chief operating officer now owns 59,698 shares in the company, valued at approximately $1,335,444.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.55% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of Advanced Drainage Systems by 10.2% in the first quarter. Wellington Management Group LLP now owns 7,230,878 shares of the construction company’s stock valued at $158,356,000 after buying an additional 671,198 shares during the last quarter. 12 West Capital Management LP purchased a new stake in shares of Advanced Drainage Systems during the fourth quarter worth approximately $76,995,000. Vanguard Group Inc. increased its stake in shares of Advanced Drainage Systems by 10.2% in the first quarter. Vanguard Group Inc. now owns 2,951,301 shares of the construction company’s stock worth $64,632,000 after buying an additional 273,698 shares in the last quarter. Impax Asset Management LTD increased its stake in shares of Advanced Drainage Systems by 4.7% in the first quarter. Impax Asset Management LTD now owns 2,826,458 shares of the construction company’s stock worth $61,895,000 after buying an additional 127,973 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in shares of Advanced Drainage Systems by 8.5% in the first quarter. Pictet Asset Management Ltd. now owns 2,668,262 shares of the construction company’s stock worth $58,435,000 after buying an additional 208,674 shares in the last quarter. Hedge funds and other institutional investors own 69.78% of the company’s stock.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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