Zacks Investment Research upgraded shares of Advanced Drainage Systems, Inc. (NYSE:WMS) from a sell rating to a buy rating in a research report report published on Thursday, July 13th. They currently have $22.00 price objective on the construction company’s stock.
According to Zacks, “Advanced Drainage Systems, Inc. is a manufacturer of thermoplastic corrugated pipe, providing a comprehensive suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising PVC drainage structures, fittings and filters, and water quality filters and separators. Its products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. Advanced Drainage Systems, Inc. is headquartered in Hilliard, Ohio. “
Other research analysts also recently issued research reports about the company. Royal Bank Of Canada reissued a hold rating on shares of Advanced Drainage Systems in a research note on Friday, May 26th. Boenning Scattergood reaffirmed a hold rating on shares of Advanced Drainage Systems in a research note on Thursday, May 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $25.33.
Shares of Advanced Drainage Systems (WMS) opened at 22.50 on Thursday. Advanced Drainage Systems has a 1-year low of $18.40 and a 1-year high of $27.32. The stock has a market cap of $1.25 billion, a P/E ratio of 45.00 and a beta of 0.92. The company’s 50-day moving average is $20.23 and its 200 day moving average is $21.78.
Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Thursday, August 3rd. The construction company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.06. The business had revenue of $358.36 million for the quarter, compared to analyst estimates of $372.63 million. Advanced Drainage Systems had a return on equity of 62.10% and a net margin of 2.50%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 EPS. Equities research analysts anticipate that Advanced Drainage Systems will post $1.09 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, August 30th. Advanced Drainage Systems’s dividend payout ratio is presently 60.87%.
In other news, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average cost of $20.32 per share, for a total transaction of $70,028,673.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Joseph A. Chlapaty bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average price of $20.28 per share, for a total transaction of $202,800.00. Following the completion of the acquisition, the chairman now owns 227,786 shares in the company, valued at $4,619,500.08. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,486,293 shares of company stock worth $70,813,174 over the last 90 days. Company insiders own 21.43% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in Advanced Drainage Systems by 133.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,259 shares of the construction company’s stock worth $106,000 after buying an additional 3,006 shares during the last quarter. Sei Investments Co. bought a new stake in Advanced Drainage Systems during the first quarter worth approximately $157,000. Manchester Capital Management LLC raised its stake in Advanced Drainage Systems by 3,123.3% in the first quarter. Manchester Capital Management LLC now owns 9,670 shares of the construction company’s stock worth $212,000 after buying an additional 9,370 shares during the last quarter. Gotham Asset Management LLC bought a new stake in Advanced Drainage Systems during the first quarter worth approximately $238,000. Finally, Highbridge Capital Management LLC bought a new stake in Advanced Drainage Systems during the fourth quarter worth approximately $278,000. 79.84% of the stock is owned by institutional investors and hedge funds.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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