Advanced Drainage Systems (NYSE:WMS) Hits New 12-Month High – Here’s Why

Advanced Drainage Systems, Inc. (NYSE:WMS) shares reached a new 52-week high on Wednesday . The stock traded as high as $179.32 and last traded at $174.52, with a volume of 59916 shares trading hands. The stock had previously closed at $175.07.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on WMS. Robert W. Baird set a $205.00 price objective on Advanced Drainage Systems in a research report on Friday. Royal Bank Of Canada lifted their price objective on Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday. UBS Group set a $215.00 price objective on Advanced Drainage Systems and gave the stock a “buy” rating in a report on Friday. Oppenheimer raised their target price on shares of Advanced Drainage Systems from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Wednesday, January 21st. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $186.00.

Advanced Drainage Systems Trading Down 0.6%

The company has a quick ratio of 3.08, a current ratio of 4.12 and a debt-to-equity ratio of 0.72. The company’s 50 day moving average price is $153.47 and its two-hundred day moving average price is $144.94. The firm has a market cap of $13.56 billion, a PE ratio of 29.04, a P/E/G ratio of 2.04 and a beta of 1.34.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.16. The business had revenue of $693.35 million during the quarter, compared to the consensus estimate of $686.37 million. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. As a group, sell-side analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. Advanced Drainage Systems’s payout ratio is 11.98%.

Insider Activity at Advanced Drainage Systems

In other news, Director Robert M. Eversole sold 10,569 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total transaction of $1,615,154.58. Following the transaction, the director directly owned 50,076 shares of the company’s stock, valued at approximately $7,652,614.32. This trade represents a 17.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WMS. Bridges Investment Management Inc. lifted its position in shares of Advanced Drainage Systems by 32.9% in the 3rd quarter. Bridges Investment Management Inc. now owns 28,122 shares of the construction company’s stock worth $3,901,000 after purchasing an additional 6,960 shares during the period. Mediolanum International Funds Ltd bought a new position in shares of Advanced Drainage Systems in the 3rd quarter worth $24,314,000. Pacer Advisors Inc. bought a new stake in Advanced Drainage Systems during the third quarter valued at about $1,321,000. Asset Management One Co. Ltd. grew its stake in Advanced Drainage Systems by 29.7% in the third quarter. Asset Management One Co. Ltd. now owns 19,982 shares of the construction company’s stock valued at $2,772,000 after purchasing an additional 4,574 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Advanced Drainage Systems by 47.5% in the second quarter. Fisher Asset Management LLC now owns 40,651 shares of the construction company’s stock worth $4,669,000 after purchasing an additional 13,097 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.