Royal Bank Of Canada Issues Pessimistic Forecast for Advanced Drainage Systems (NYSE:WMS) Stock Price

Advanced Drainage Systems (NYSE:WMS) had its target price decreased by stock analysts at Royal Bank Of Canada from $178.00 to $170.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 35.59% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Oppenheimer decreased their target price on Advanced Drainage Systems from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Friday. Robert W. Baird set a $206.00 target price on Advanced Drainage Systems in a research report on Friday, August 7th. UBS Group boosted their price target on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Friday, July 17th. Finally, DA Davidson reissued a “buy” rating and issued a $190.00 price objective on shares of Advanced Drainage Systems in a research report on Tuesday, October 6th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.40.

Advanced Drainage Systems Stock Performance

Shares of NYSE WMS traded down $1.35 during trading on Wednesday, hitting $125.38. The company had a trading volume of 7,541 shares, compared to its average volume of 818,867. Advanced Drainage Systems has a 12 month low of $122.90 and a 12 month high of $179.32. The firm has a market capitalization of $9.45 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 1.45 and a beta of 1.29. The stock has a 50 day simple moving average of $134.67 and a 200 day simple moving average of $140.23. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.39. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. Advanced Drainage Systems’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.95 EPS. As a group, analysts anticipate that Advanced Drainage Systems will post 6.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WMS. BlackRock Inc. acquired a new position in shares of Advanced Drainage Systems during the 2nd quarter worth approximately $1,172,482,000. Bamco Inc. NY purchased a new position in Advanced Drainage Systems in the 2nd quarter valued at about $106,800,000. Pictet Asset Management Holding SA boosted its stake in shares of Advanced Drainage Systems by 32.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock worth $302,290,000 after purchasing an additional 546,298 shares during the last quarter. Hill City Capital LP acquired a new position in shares of Advanced Drainage Systems in the second quarter valued at approximately $75,340,800. Finally, Bank of New York Mellon Corp purchased a new position in shares of Advanced Drainage Systems during the second quarter valued at approximately $74,104,000. 89.83% of the stock is owned by institutional investors and hedge funds.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE:WMS) designs and manufactures water management solutions for infrastructure, construction, agriculture and residential applications. The company is best known for its thermoplastic corrugated pipe and related products used to manage stormwater, drainage and wastewater.

Its product portfolio includes stormwater detention and treatment systems, drainage pipe, septic wastewater systems, fittings, chambers, pumps and other water management components. Advanced Drainage Systems also provides products for agricultural drainage, commercial and residential construction, and large-scale infrastructure projects.

Founded in 1966 and headquartered in Hilliard, Ohio, the company serves customers primarily across North America through manufacturing facilities, distribution centers and a network of independent distributors.