Loop Capital Trims Advanced Drainage Systems (NYSE:WMS) Target Price to $180.00

Advanced Drainage Systems (NYSE:WMS) had its price objective trimmed by Loop Capital from $188.00 to $180.00 in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Other research analysts have also issued reports about the company. KeyCorp raised their target price on Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an overweight rating in a research report on Friday, May 17th. Northcoast Research initiated coverage on Advanced Drainage Systems in a research note on Wednesday, May 8th. They issued a buy rating and a $190.00 price objective on the stock. Stephens increased their target price on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the company an overweight rating in a research report on Friday, May 17th. Robert W. Baird dropped their price target on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an outperform rating on the stock in a research report on Friday, August 9th. Finally, Barclays decreased their price objective on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an overweight rating for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $190.14.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $149.09 on Monday. The stock’s 50-day moving average is $162.54 and its 200-day moving average is $163.12. Advanced Drainage Systems has a 1-year low of $102.32 and a 1-year high of $184.27. The company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04. The stock has a market cap of $11.56 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.28. The firm had revenue of $653.80 million for the quarter, compared to analyst estimates of $611.99 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.06 EPS. Equities research analysts anticipate that Advanced Drainage Systems will post 7.18 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.43%. Advanced Drainage Systems’s payout ratio is presently 9.94%.

Insider Buying and Selling

In other Advanced Drainage Systems news, insider Tim A. Makowski sold 3,800 shares of Advanced Drainage Systems stock in a transaction on Friday, May 31st. The shares were sold at an average price of $170.68, for a total value of $648,584.00. Following the completion of the sale, the insider now directly owns 4,530 shares of the company’s stock, valued at $773,180.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider D. Scott Barbour sold 85,938 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $174.10, for a total transaction of $14,961,805.80. Following the transaction, the insider now directly owns 45,994 shares of the company’s stock, valued at $8,007,555.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tim A. Makowski sold 3,800 shares of Advanced Drainage Systems stock in a transaction on Friday, May 31st. The shares were sold at an average price of $170.68, for a total transaction of $648,584.00. Following the completion of the sale, the insider now directly 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 have sold a total of 176,004 shares of company stock valued at $30,547,285 over the last ninety days. 2.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WMS. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Advanced Drainage Systems in the 2nd quarter worth about $1,331,000. Scientech Research LLC bought a new stake in Advanced Drainage Systems during the 2nd quarter worth approximately $639,000. Lighthouse Investment Partners LLC purchased a new stake in shares of Advanced Drainage Systems in the second quarter worth approximately $802,000. Millennium Management LLC lifted its holdings in shares of Advanced Drainage Systems by 136.2% in the second quarter. Millennium Management LLC now owns 312,393 shares of the construction company’s stock valued at $50,105,000 after purchasing an additional 180,154 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Advanced Drainage Systems by 8.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 135,976 shares of the construction company’s stock valued at $21,809,000 after buying an additional 10,367 shares during the last quarter. 89.83% of the stock is owned by institutional investors.

About Advanced Drainage Systems

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.