Loop Capital Trims Advanced Drainage Systems (NYSE:WMS) Target Price to $180.00

Advanced Drainage Systems (NYSE:WMS) had its target price reduced by Loop Capital from $188.00 to $180.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other research analysts have also recently commented on the stock. StockNews.com cut shares of Advanced Drainage Systems from a buy rating to a hold rating in a report on Wednesday, July 17th. KeyCorp boosted their price target on Advanced Drainage Systems from $185.00 to $195.00 and gave the company an overweight rating in a report on Friday, May 17th. Barclays reduced their price objective on Advanced Drainage Systems from $202.00 to $194.00 and set an overweight rating on the stock in a report on Friday. Stephens increased their price target on Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an overweight rating in a research report on Friday, May 17th. Finally, Robert W. Baird cut their price target on Advanced Drainage Systems from $200.00 to $187.00 and set an outperform rating on the stock in a research note on Friday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $188.43.

Advanced Drainage Systems Trading Up 2.6 %

NYSE WMS traded up $3.63 during trading on Monday, hitting $145.53. The stock had a trading volume of 23,953 shares, compared to its average volume of 498,382. Advanced Drainage Systems has a one year low of $102.32 and a one year high of $184.27. The stock has a 50 day simple moving average of $163.59 and a 200 day simple moving average of $163.24. The stock has a market capitalization of $11.28 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.16 and a beta of 1.55. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.28. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. The firm had revenue of $653.80 million for the quarter, compared to the consensus estimate of $611.99 million. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Sell-side analysts predict that Advanced Drainage Systems will post 7.19 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, August 30th. Advanced Drainage Systems’s payout ratio is 9.94%.

Insider Activity

In related news, insider Tim A. Makowski sold 3,800 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $170.68, for a total transaction of $648,584.00. Following the completion of the sale, the insider now owns 4,530 shares of the company’s stock, valued at $773,180.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider D. Scott Barbour sold 85,938 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $174.10, for a total transaction of $14,961,805.80. Following the transaction, the insider now directly owns 45,994 shares of the company’s stock, valued at approximately $8,007,555.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tim A. Makowski sold 3,800 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $170.68, for a total value of $648,584.00. Following the completion of the sale, the insider now owns 4,530 shares of the company’s stock, valued at $773,180.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,004 shares of company stock worth $30,547,285. Corporate insiders own 2.05% of the company’s stock.

Hedge Funds Weigh In On Advanced Drainage Systems

Several hedge funds have recently modified their holdings of the stock. Swedbank AB acquired a new stake in Advanced Drainage Systems in the 1st quarter worth approximately $220,853,000. Norges Bank acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter worth $88,640,000. Vanguard Group Inc. grew its holdings in shares of Advanced Drainage Systems by 5.8% during the first quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company’s stock valued at $1,251,353,000 after buying an additional 395,099 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Advanced Drainage Systems by 107.4% in the 4th quarter. Wellington Management Group LLP now owns 567,504 shares of the construction company’s stock valued at $79,814,000 after acquiring an additional 293,924 shares during the period. Finally, KBC Group NV raised its stake in Advanced Drainage Systems by 78.5% in the 4th quarter. KBC Group NV now owns 659,483 shares of the construction company’s stock worth $92,750,000 after acquiring an additional 289,925 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.