Advanced Drainage Systems (NYSE:WMS) Stock Crosses Above 50 Day Moving Average After Analyst Downgrade

Advanced Drainage Systems, Inc. (NYSE:WMS)’s share price passed above its 50-day moving average during trading on Monday after DA Davidson upgraded the stock to a strong-buy rating. The stock has a 50-day moving average of $129.91 and traded as high as $133.13. Advanced Drainage Systems shares last traded at $131.1230, with a volume of 973,727 shares changing hands.

WMS has been the subject of a number of other reports. UBS Group raised their target price on Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Stephens raised Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $190.00 to $175.00 in a research report on Wednesday, May 27th. Zacks Research upgraded Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Friday, July 17th. Finally, 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. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.40.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Advanced Drainage Systems in the second quarter worth about $1,172,482,000. Pictet Asset Management Holding SA boosted its position in shares of Advanced Drainage Systems by 33.4% in the third quarter. Pictet Asset Management Holding SA now owns 1,505,017 shares of the construction company’s stock valued at $190,712,000 after acquiring an additional 377,043 shares during the period. Amundi grew its stake in Advanced Drainage Systems by 5.1% during the second quarter. Amundi now owns 1,354,610 shares of the construction company’s stock valued at $212,681,000 after acquiring an additional 65,938 shares in the last quarter. KBC Group NV grew its stake in Advanced Drainage Systems by 1.7% during the first quarter. KBC Group NV now owns 916,981 shares of the construction company’s stock valued at $125,746,000 after acquiring an additional 14,915 shares in the last quarter. Finally, Bamco Inc. NY purchased a new position in Advanced Drainage Systems during the second quarter valued at approximately $106,800,000. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Up 5.5%

The stock’s fifty day moving average is $129.91 and its two-hundred day moving average is $142.96. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm has a market cap of $9.89 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 1.65 and a beta of 1.30.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, November 5th. The construction company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.07. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The business had revenue of $889.41 million for the quarter, compared to analysts’ expectations of $921.79 million. During the same period in the prior year, the company posted $1.97 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, research analysts anticipate that Advanced Drainage Systems, Inc. will post 6.52 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.6%. Advanced Drainage Systems’s dividend payout ratio is presently 15.21%.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) manufactures water-management products for infrastructure, construction, agriculture and residential markets. Its offerings include thermoplastic corrugated pipe and related products used to manage stormwater, drainage and wastewater.

The company also provides stormwater storage, treatment and infiltration systems, as well as products for onsite wastewater and septic systems through its Infiltrator Water Technologies business. Its portfolio includes solutions for projects ranging from roadways and commercial developments to residential wastewater applications.

Founded in 1966 and headquartered in Hilliard, Ohio, Advanced Drainage Systems serves customers across North America and in international markets.