Advanced Drainage Systems (NYSE:WMS) Price Target Lowered to $184.00 at Oppenheimer

Advanced Drainage Systems (NYSE:WMS) had its target price cut by Oppenheimer from $192.00 to $184.00 in a research note released on Monday morning,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

A number of other brokerages have also recently commented on WMS. KeyCorp cut their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday. Robert W. Baird cut their target price on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Barclays lowered their price target on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Loop Capital cut their price objective on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, StockNews.com lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Advanced Drainage Systems currently has a consensus rating of “Moderate Buy” and an average price target of $170.29.

Advanced Drainage Systems Price Performance

Shares of WMS stock opened at $130.31 on Monday. Advanced Drainage Systems has a 12 month low of $116.98 and a 12 month high of $184.27. The company has a market capitalization of $10.10 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.19 and a beta of 1.53. The stock has a 50 day moving average of $150.43 and a two-hundred day moving average of $158.96. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last issued its earnings results on Friday, November 8th. The construction company reported $1.70 EPS 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 the consensus estimate of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business earned $1.71 earnings per share. As a group, equities analysts expect that Advanced Drainage Systems will post 6.5 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.49%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 10.19%.

Hedge Funds Weigh In On Advanced Drainage Systems

Several large investors have recently made changes to their positions in WMS. CANADA LIFE ASSURANCE Co raised its holdings in Advanced Drainage Systems by 24.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,780 shares of the construction company’s stock worth $11,006,000 after purchasing an additional 12,655 shares during the last quarter. Magnetar Financial LLC acquired a new position in Advanced Drainage Systems in the first quarter valued at approximately $525,000. Price T Rowe Associates Inc. MD boosted its stake in Advanced Drainage Systems by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company’s stock valued at $24,059,000 after acquiring an additional 19,626 shares during the last quarter. Vanguard Group Inc. boosted its stake in Advanced Drainage Systems by 5.8% in 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 acquiring an additional 395,099 shares during the last quarter. Finally, Castleark Management LLC acquired a new stake in Advanced Drainage Systems during the 1st quarter worth $580,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

About Advanced Drainage Systems

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.