Advanced Drainage Systems (NYSE:WMS) Price Target Cut to $170.00 by Analysts at Loop Capital

Advanced Drainage Systems (NYSE:WMS) had its target price cut by Loop Capital from $180.00 to $170.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other brokerages also recently issued reports on WMS. Barclays reduced their price target on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating for the company in a report on Monday. StockNews.com lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird cut their target price on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a report on Monday. Oppenheimer decreased their price target on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, KeyCorp lowered their price target on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $178.57.

Advanced Drainage Systems Price Performance

WMS stock opened at $133.51 on Monday. The company has a market capitalization of $10.35 billion, a P/E ratio of 21.61, a PEG ratio of 1.15 and a beta of 1.53. The company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04. Advanced Drainage Systems has a twelve month low of $112.11 and a twelve month high of $184.27. The business has a 50 day simple moving average of $151.20 and a 200-day simple moving average of $159.57.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.23). The firm had revenue of $782.60 million during the quarter, compared to analysts’ expectations of $819.41 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $1.71 earnings per share. As a group, equities analysts anticipate that Advanced Drainage Systems will post 6.95 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s payout ratio is 10.19%.

Hedge Funds Weigh In On Advanced Drainage Systems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Advanced Drainage Systems by 319.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after buying an additional 115 shares during the period. West Oak Capital LLC raised its stake in Advanced Drainage Systems by 133.3% during the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. boosted its holdings in Advanced Drainage Systems by 1,472.7% in the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after buying an additional 162 shares during the period. National Bank of Canada FI purchased a new position in Advanced Drainage Systems in the 2nd quarter worth approximately $45,000. Finally, Huntington National Bank boosted its holdings in shares of Advanced Drainage Systems by 123.1% during the 3rd quarter. Huntington National Bank now owns 386 shares of the construction company’s stock valued at $61,000 after purchasing an additional 213 shares during the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.