Advanced Drainage Systems, Inc. (NYSE:WMS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Advanced Drainage Systems, Inc. (NYSE:WMS) have been given an average rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $187.00.

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Advanced Drainage Systems in a report on Thursday, June 11th. They set a “buy” rating and a $175.00 price objective on the stock. Stephens upgraded Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $190.00 to $175.00 in a research note on Wednesday, May 27th. Zacks Research lowered Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 17th. KeyCorp reaffirmed an “overweight” rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. Finally, Royal Bank Of Canada increased their price target on Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, June 8th.

Hedge Funds Weigh In On Advanced Drainage Systems

Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in Advanced Drainage Systems by 352.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after purchasing an additional 176 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock valued at $33,000 after buying an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Advanced Drainage Systems in the third quarter valued at $36,000. Kestra Advisory Services LLC acquired a new position in shares of Advanced Drainage Systems during the fourth quarter valued at about $37,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Advanced Drainage Systems during the fourth quarter worth about $42,000. 89.83% of the stock is currently owned by institutional investors.

Advanced Drainage Systems Stock Up 2.0%

Advanced Drainage Systems stock opened at $141.65 on Thursday. The company has a quick ratio of 1.35, a current ratio of 2.42 and a debt-to-equity ratio of 0.92. Advanced Drainage Systems has a 12-month low of $110.85 and a 12-month high of $179.32. The firm’s fifty day moving average is $142.14 and its 200 day moving average is $148.83. The company has a market capitalization of $10.86 billion, a PE ratio of 26.04, a PEG ratio of 1.50 and a beta of 1.26.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.12. The business had revenue of $676.76 million for the quarter, compared to analyst estimates of $651.92 million. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. Advanced Drainage Systems’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, sell-side analysts predict that Advanced Drainage Systems will post 6.55 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. Advanced Drainage Systems’s payout ratio is currently 14.71%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.