Advanced Drainage Systems (NYSE:WMS) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Advanced Drainage Systems (NYSE:WMS) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Several other equities analysts have also recently commented on the company. Barclays boosted their target price on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada raised their price target on Advanced Drainage Systems from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Oppenheimer cut their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, May 26th. UBS Group decreased their price objective on shares of Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Advanced Drainage Systems in a research note on Thursday, June 11th. They issued a “buy” rating and a $175.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $187.00.

Advanced Drainage Systems Stock Performance

NYSE WMS opened at $145.12 on Monday. The company’s 50 day simple moving average is $142.71 and its two-hundred day simple moving average is $148.63. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. Advanced Drainage Systems has a 1 year low of $110.85 and a 1 year high of $179.32. The stock has a market capitalization of $11.12 billion, a PE ratio of 26.68, a P/E/G ratio of 1.54 and a beta of 1.26.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, May 21st. The construction company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.12. The firm had revenue of $676.76 million during 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%. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. Analysts predict that Advanced Drainage Systems will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.20 per share. The ex-dividend date 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 yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 14.71%.

Institutional Investors Weigh In On Advanced Drainage Systems

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 during the last quarter. SJS Investment Consulting Inc. lifted its position in Advanced Drainage Systems by 78.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after buying an additional 107 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Advanced Drainage Systems in the 3rd quarter worth approximately $36,000. Kestra Advisory Services LLC purchased a new stake in Advanced Drainage Systems in the fourth quarter worth approximately $37,000. Finally, Clearstead Advisors LLC boosted its stake in Advanced Drainage Systems by 150.8% in the fourth quarter. Clearstead Advisors LLC now owns 301 shares of the construction company’s stock worth $44,000 after buying an additional 181 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

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.