Oppenheimer Reaffirms Outperform Rating for Advanced Drainage Systems (NYSE:WMS)

Advanced Drainage Systems (NYSE:WMS)‘s stock had its “outperform” rating reissued by equities research analysts at Oppenheimer in a note issued to investors on Thursday, Benzinga reports. They presently have a $192.00 price objective on the construction company’s stock. Oppenheimer’s price target points to a potential upside of 32.17% from the company’s current price.

WMS has been the subject of several other research reports. KeyCorp increased their price target on Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Stephens increased their price target on Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Barclays cut their price target on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. StockNews.com downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Robert W. Baird cut their price target on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.14.

Advanced Drainage Systems Trading Down 0.7 %

Shares of Advanced Drainage Systems stock opened at $145.27 on Thursday. Advanced Drainage Systems has a 1 year low of $102.32 and a 1 year high of $184.27. The firm has a market cap of $11.26 billion, a PE ratio of 22.56, a P/E/G ratio of 1.16 and a beta of 1.55. The stock has a fifty day moving average price of $162.81 and a 200-day moving average price of $163.22. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.28. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. The firm had revenue of $653.80 million during the quarter, compared to analyst estimates of $611.99 million. During the same period last year, the firm posted $1.06 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. Equities research analysts anticipate that Advanced Drainage Systems will post 7.19 EPS for the current year.

Insiders Place Their Bets

In other Advanced Drainage Systems news, insider Tim A. Makowski sold 3,800 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $170.68, for a total value of $648,584.00. Following the completion of the transaction, the insider now owns 4,530 shares in the company, valued at approximately $773,180.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $172.58, for a total transaction of $1,725,800.00. Following the completion of the sale, the executive vice president now owns 7,225 shares in the company, valued at approximately $1,246,890.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Tim A. Makowski sold 3,800 shares of Advanced Drainage Systems stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $170.68, for a total value of $648,584.00. Following the sale, the insider now owns 4,530 shares of the company’s stock, valued at approximately $773,180.40. The disclosure for this sale can be found here. Insiders sold a total of 176,004 shares of company stock worth $30,547,285 in the last quarter. 2.05% of the stock is owned by company insiders.

Institutional Trading of Advanced Drainage Systems

A number of large investors have recently modified their holdings of WMS. Swedbank AB bought a new stake in shares of Advanced Drainage Systems during the 1st quarter valued at about $220,853,000. Norges Bank purchased a new position in shares of Advanced Drainage Systems during the 4th quarter valued at about $88,640,000. Vanguard Group Inc. raised its holdings in shares of Advanced Drainage Systems by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock valued at $1,251,353,000 after buying an additional 395,099 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Advanced Drainage Systems by 107.4% during the 4th quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company’s stock valued at $79,814,000 after buying an additional 293,924 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Advanced Drainage Systems by 78.5% during the 4th quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock valued at $92,750,000 after buying an additional 289,925 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Company Profile

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.