Advanced Drainage Systems, Inc. (NYSE:WMS) Rating Reiterated by Robert W. Baird

Advanced Drainage Systems, Inc. (NYSE:WMS)‘s stock had its “buy” rating reissued by Robert W. Baird in a research note issued on Wednesday, October 4th. They currently have a $25.00 target price on the construction company’s stock. Robert W. Baird’s price target points to a potential upside of 27.23% from the stock’s previous close.

A number of other brokerages also recently issued reports on WMS. BidaskClub upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. ValuEngine downgraded shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded shares of Advanced Drainage Systems from a “buy” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Advanced Drainage Systems in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $24.00.

Shares of Advanced Drainage Systems (NYSE:WMS) opened at 19.65 on Wednesday. The stock has a 50 day moving average of $20.14 and a 200 day moving average of $20.77. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 39.86 and a beta of 0.94. Advanced Drainage Systems has a 12 month low of $18.40 and a 12 month high of $26.30.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.27 earnings per share (EPS) 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 net margin of 2.50% and a return on equity of 62.10%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. On average, equities research analysts expect that Advanced Drainage Systems will post $1.09 EPS for the current fiscal year.

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In other Advanced Drainage Systems news, EVP Robert M. Klein sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $20.77, for a total transaction of $415,400.00. Following the completion of the transaction, the executive vice president now directly owns 340,205 shares in the company, valued at approximately $7,066,057.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the company’s stock in a transaction on Monday, August 7th. The shares were acquired at an average price of $20.32 per share, with a total value of $70,028,673.76. The disclosure for this purchase can be found here. Company insiders own 21.43% of the company’s stock.

Large investors have recently bought and sold shares of the business. Manchester Capital Management LLC boosted its stake in shares of Advanced Drainage Systems by 1.0% during the 2nd quarter. Manchester Capital Management LLC now owns 9,770 shares of the construction company’s stock worth $196,000 after purchasing an additional 100 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Advanced Drainage Systems by 0.4% during the 2nd quarter. Stifel Financial Corp now owns 40,687 shares of the construction company’s stock worth $813,000 after purchasing an additional 164 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Advanced Drainage Systems by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 38,851 shares of the construction company’s stock worth $781,000 after purchasing an additional 178 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Advanced Drainage Systems by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,011 shares of the construction company’s stock worth $563,000 after purchasing an additional 346 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Advanced Drainage Systems by 0.9% during the 2nd quarter. Alliancebernstein L.P. now owns 67,718 shares of the construction company’s stock worth $1,361,000 after purchasing an additional 609 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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