Northcoast Research Initiates Coverage on Advanced Drainage Systems (NYSE:WMS)

Investment analysts at Northcoast Research assumed coverage on shares of Advanced Drainage Systems (NYSE:WMS) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $190.00 price target on the construction company’s stock. Northcoast Research’s price objective would suggest a potential upside of 10.24% from the stock’s previous close.

WMS has been the subject of several other reports. Stephens increased their price objective on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. StockNews.com upgraded Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Oppenheimer boosted their price objective on Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Finally, KeyCorp upped their target price on Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.56.

Advanced Drainage Systems Stock Up 2.5 %

Shares of NYSE WMS opened at $172.35 on Wednesday. The stock has a market capitalization of $13.38 billion, a PE ratio of 27.40, a P/E/G ratio of 1.49 and a beta of 1.51. The company has a quick ratio of 2.04, a current ratio of 3.03 and a debt-to-equity ratio of 1.18. The firm has a fifty day moving average of $164.89 and a 200-day moving average of $143.49. Advanced Drainage Systems has a 52-week low of $84.71 and a 52-week high of $176.31.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.44. Advanced Drainage Systems had a return on equity of 49.79% and a net margin of 17.65%. The company had revenue of $662.37 million for the quarter, compared to the consensus estimate of $632.69 million. During the same period last year, the business posted $0.99 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Advanced Drainage Systems will post 6.09 EPS for the current year.

Insiders Place Their Bets

In related news, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total value of $124,351,885.00. Following the completion of the sale, the director now owns 70,749 shares in the company, valued at $11,532,087. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Michael G. Huebert sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the sale, the executive vice president now directly owns 13,450 shares in the company, valued at approximately $2,199,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ross M. Jones sold 762,895 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the sale, the director now owns 70,749 shares in the company, valued at $11,532,087. The disclosure for this sale can be found here. 3.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WMS. NBC Securities Inc. acquired a new position in shares of Advanced Drainage Systems during the 3rd quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Advanced Drainage Systems by 319.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after buying an additional 115 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Advanced Drainage Systems during the fourth quarter worth about $27,000. GAMMA Investing LLC bought a new stake in Advanced Drainage Systems in the fourth quarter worth about $28,000. Finally, Rise Advisors LLC acquired a new stake in Advanced Drainage Systems in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.