Robert W. Baird reiterated their buy rating on shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in a research note published on Friday, September 8th. The brokerage currently has a $24.00 target price on the construction company’s stock.
A number of other brokerages have also recently weighed in on WMS. BidaskClub cut Advanced Drainage Systems from a hold rating to a sell rating in a research note on Wednesday, August 16th. Boenning Scattergood reissued a hold rating on shares of Advanced Drainage Systems in a research note on Thursday, May 25th. Zacks Investment Research raised Advanced Drainage Systems from a sell rating to a buy rating and set a $22.00 target price on the stock in a research note on Thursday, July 13th. ValuEngine cut Advanced Drainage Systems from a hold rating to a sell rating in a research note on Tuesday, August 8th. Finally, Royal Bank Of Canada reaffirmed a hold rating on shares of Advanced Drainage Systems in a research note on Friday, May 26th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $23.67.
Shares of Advanced Drainage Systems (WMS) opened at 19.85 on Friday. Advanced Drainage Systems has a 1-year low of $18.40 and a 1-year high of $26.30. The firm’s 50 day moving average is $20.12 and its 200 day moving average is $20.99. The firm has a market capitalization of $1.10 billion, a PE ratio of 40.26 and a beta of 0.93.
Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.06). The company had revenue of $358.36 million during the quarter, compared to analysts’ expectations of $372.63 million. Advanced Drainage Systems had a return on equity of 62.10% and a net margin of 2.50%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. Analysts anticipate that Advanced Drainage Systems will post $1.09 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 1.41%. Advanced Drainage Systems’s payout ratio is 60.87%.
In related news, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of Advanced Drainage Systems stock in a transaction that occurred on Monday, August 7th. The stock was purchased at an average cost of $20.32 per share, for a total transaction of $70,028,673.76. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert M. Klein sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $20.77, for a total value of $415,400.00. Following the completion of the sale, the executive vice president now owns 340,205 shares of the company’s stock, valued at $7,066,057.85. The disclosure for this sale can be found here. Insiders own 21.43% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of WMS. First Trust Advisors LP lifted its holdings in shares of Advanced Drainage Systems by 28.4% during the second quarter. First Trust Advisors LP now owns 265,679 shares of the construction company’s stock worth $5,340,000 after buying an additional 58,820 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $4,801,000. Wells Fargo & Company MN lifted its holdings in shares of Advanced Drainage Systems by 19.3% during the first quarter. Wells Fargo & Company MN now owns 32,136 shares of the construction company’s stock worth $703,000 after buying an additional 5,205 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Advanced Drainage Systems by 1.0% during the first quarter. PNC Financial Services Group Inc. now owns 434,163 shares of the construction company’s stock worth $9,508,000 after buying an additional 4,200 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Advanced Drainage Systems by 7.1% during the first quarter. Principal Financial Group Inc. now owns 30,454 shares of the construction company’s stock worth $667,000 after buying an additional 2,023 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.
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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