Advanced Drainage Systems, Inc. (WMS) Rating Reiterated by Robert W. Baird

Advanced Drainage Systems, Inc. (NYSE:WMS)‘s stock had its “buy” rating restated by research analysts at Robert W. Baird in a report issued on Friday. They currently have a $24.00 price objective on the construction company’s stock. Robert W. Baird’s price target would indicate a potential upside of 14.83% from the company’s previous close.

A number of other analysts also recently commented on the company. BidaskClub downgraded Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research downgraded Advanced Drainage Systems from a “buy” rating to a “sell” rating in a research report on Thursday, August 10th. ValuEngine downgraded Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Boenning Scattergood reaffirmed a “hold” rating on shares of Advanced Drainage Systems in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Advanced Drainage Systems in a research report on Friday, May 26th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $23.67.

Advanced Drainage Systems (NYSE WMS) opened at 20.90 on Friday. Advanced Drainage Systems has a 52 week low of $18.40 and a 52 week high of $26.30. The company has a market capitalization of $1.15 billion, a P/E ratio of 42.39 and a beta of 0.93. The stock’s 50 day moving average price is $20.09 and its 200 day moving average price is $21.10.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.06. The business had revenue of $358.36 million for the quarter, compared to analysts’ expectations of $372.63 million. Advanced Drainage Systems had a net margin of 2.50% and a return on equity of 62.10%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 earnings per share. Analysts anticipate that Advanced Drainage Systems will post $1.09 earnings per share for the current year.

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In other news, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $20.32 per share, with a total value of $70,028,673.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Joseph A. Chlapaty bought 10,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was purchased at an average cost of $20.28 per share, with a total value of $202,800.00. Following the completion of the transaction, the chairman now directly owns 227,786 shares of the company’s stock, valued at $4,619,500.08. The disclosure for this purchase can be found here. Company insiders own 21.43% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC increased its position in Advanced Drainage Systems by 1.0% in the second quarter. Manchester Capital Management LLC now owns 9,770 shares of the construction company’s stock worth $196,000 after buying an additional 100 shares during the last quarter. Stifel Financial Corp increased its position in Advanced Drainage Systems by 0.4% in the second quarter. Stifel Financial Corp now owns 40,687 shares of the construction company’s stock worth $813,000 after buying an additional 164 shares during the last quarter. Rhumbline Advisers increased its position in Advanced Drainage Systems by 0.5% in the second quarter. Rhumbline Advisers now owns 38,851 shares of the construction company’s stock worth $781,000 after buying an additional 178 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Advanced Drainage Systems by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 28,011 shares of the construction company’s stock worth $563,000 after buying an additional 346 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Advanced Drainage Systems by 0.9% in the second quarter. Alliancebernstein L.P. now owns 67,718 shares of the construction company’s stock worth $1,361,000 after buying an additional 609 shares during the last quarter. 78.79% of the stock is owned by institutional investors and hedge funds.

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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