Advanced Drainage Systems, Inc. (NYSE:WMS) Lifted to Buy at Zacks Investment Research
Advanced Drainage Systems, Inc. (NYSE:WMS) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $22.00 price objective on the construction company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 9.45% from the stock’s current price.
According to Zacks, “Advanced Drainage Systems, Inc. is a manufacturer of thermoplastic corrugated pipe, providing a comprehensive suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising PVC drainage structures, fittings and filters, and water quality filters and separators. Its products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. Advanced Drainage Systems, Inc. is headquartered in Hilliard, Ohio. “
Several other equities analysts have also issued reports on the company. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Advanced Drainage Systems in a research note on Friday, May 26th. Boenning Scattergood reaffirmed a “hold” rating on shares of Advanced Drainage Systems in a research note on Thursday, May 25th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $25.33.
Shares of Advanced Drainage Systems (WMS) traded down 0.373% during midday trading on Thursday, reaching $20.025. 51,552 shares of the company’s stock traded hands. Advanced Drainage Systems has a 52-week low of $18.60 and a 52-week high of $28.49. The firm has a market capitalization of $1.11 billion, a P/E ratio of 40.050 and a beta of 0.92. The stock’s 50 day moving average price is $20.67 and its 200 day moving average price is $21.95.
Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, May 25th. The construction company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.14. Advanced Drainage Systems had a net margin of 3.05% and a return on equity of 102.23%. The firm had revenue of $244.20 million for the quarter, compared to analyst estimates of $228.82 million. During the same period last year, the company earned $0.17 EPS. The company’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Advanced Drainage Systems will post $1.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, June 5th were paid a $0.07 dividend. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $0.28 annualized dividend and a yield of 1.39%. Advanced Drainage Systems’s dividend payout ratio is presently 50.00%.
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In related news, CEO Joseph A. Chlapaty bought 30,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were purchased at an average price of $19.39 per share, with a total value of $581,700.00. Following the completion of the purchase, the chief executive officer now owns 227,786 shares of the company’s stock, valued at approximately $4,416,770.54. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Joseph A. Chlapaty bought 10,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was bought at an average cost of $20.28 per share, for a total transaction of $202,800.00. Following the purchase, the chairman now directly owns 227,786 shares of the company’s stock, valued at approximately $4,619,500.08. The disclosure for this purchase can be found here. Corporate insiders own 21.43% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in WMS. Algert Global LLC bought a new position in Advanced Drainage Systems during the first quarter valued at $965,000. Wells Fargo & Company MN raised its position in Advanced Drainage Systems by 19.3% in the first quarter. Wells Fargo & Company MN now owns 32,136 shares of the construction company’s stock valued at $703,000 after buying an additional 5,205 shares during the last quarter. Manchester Capital Management LLC raised its position in Advanced Drainage Systems by 3,123.3% in the first quarter. Manchester Capital Management LLC now owns 9,670 shares of the construction company’s stock valued at $212,000 after buying an additional 9,370 shares during the last quarter. Torch Wealth Management LLC raised its position in Advanced Drainage Systems by 1.7% in the first quarter. Torch Wealth Management LLC now owns 18,480 shares of the construction company’s stock valued at $405,000 after buying an additional 300 shares during the last quarter. Finally, Daiwa SB Investments Ltd. bought a new position in Advanced Drainage Systems during the first quarter valued at $747,000. 79.55% of the stock is currently owned by hedge funds and other institutional investors.
Advanced Drainage Systems Company Profile
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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