Advanced Drainage Systems (NYSE:WMS) Upgraded by Jefferies Financial Group to “Strong-Buy” Rating

Jefferies Financial Group upgraded shares of Advanced Drainage Systems (NYSE:WMS) to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other brokerages have also commented on WMS. Oppenheimer decreased 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. Royal Bank Of Canada boosted their price objective on Advanced Drainage Systems from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group decreased their price objective on Advanced Drainage Systems from $215.00 to $205.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Stephens raised Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $190.00 to $175.00 in a report on Wednesday, May 27th. Finally, Barclays decreased their price objective on Advanced Drainage Systems from $198.00 to $181.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $185.75.

Advanced Drainage Systems Stock Performance

Shares of Advanced Drainage Systems stock opened at $134.93 on Thursday. Advanced Drainage Systems has a one year low of $109.63 and a one year high of $179.32. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 1.39 and a beta of 1.29. The business has a 50-day simple moving average of $141.80 and a 200 day simple moving average of $149.21. 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 (NYSE:WMS) last issued its 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. Advanced Drainage Systems had a return on equity of 26.63% and a net margin of 13.98%.The business had revenue of $676.76 million during the quarter, compared to analyst estimates of $651.92 million. During the same period in the previous year, the company posted $1.03 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, research analysts anticipate that Advanced Drainage Systems will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 1st. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.18. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 14.71%.

Hedge Funds Weigh In On Advanced Drainage Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after buying an additional 176 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in shares of 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 purchased a new position in shares of Advanced Drainage Systems in the 3rd quarter worth approximately $36,000. Kestra Advisory Services LLC purchased a new position in shares of Advanced Drainage Systems in the 4th quarter worth approximately $37,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Advanced Drainage Systems in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 89.83% of the company’s stock.

About Advanced Drainage Systems

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.