Advanced Drainage Systems (NYSE:WMS) Earns “Buy” Rating from DA Davidson

Advanced Drainage Systems (NYSE:WMS)‘s stock had its “buy” rating reaffirmed by investment analysts at DA Davidson in a research note issued on Tuesday, Marketbeat.com reports. They presently have a $190.00 price objective on the construction company’s stock. DA Davidson’s price objective indicates a potential upside of 50.63% from the stock’s current price.

WMS has been the subject of several other research reports. UBS Group increased their target price on Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Jefferies Financial Group initiated coverage on Advanced Drainage Systems in a research report on Thursday, June 11th. They issued a “buy” rating and a $175.00 target price for the company. National Bank Financial set a $190.00 target price on Advanced Drainage Systems in a research report on Monday, August 24th. Barclays increased their target price on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, KeyCorp reissued an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $188.70.

Advanced Drainage Systems Trading Up 0.0%

NYSE WMS traded up $0.05 on Tuesday, hitting $126.13. The company’s stock had a trading volume of 907,567 shares, compared to its average volume of 808,451. Advanced Drainage Systems has a 52-week low of $122.90 and a 52-week high of $179.32. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company’s 50-day simple moving average is $136.00 and its 200 day simple moving average is $140.51. The firm has a market cap of $9.51 billion, a P/E ratio of 21.78, a PEG ratio of 1.38 and a beta of 1.29.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $991.39 million. During the same quarter last year, the business posted $1.95 EPS. The business’s revenue was up 20.6% on a year-over-year basis. Research analysts predict that Advanced Drainage Systems will post 6.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC increased its position in Advanced Drainage Systems by 43.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 3,834 shares of the construction company’s stock valued at $486,000 after buying an additional 1,162 shares in the last quarter. SkyView Investment Advisors LLC bought a new position in Advanced Drainage Systems during the 2nd quarter valued at approximately $283,000. Tidal Investments LLC increased its position in Advanced Drainage Systems by 7.4% during the 2nd quarter. Tidal Investments LLC now owns 9,471 shares of the construction company’s stock valued at $1,487,000 after buying an additional 652 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Advanced Drainage Systems by 95.4% in the 2nd quarter. IFP Advisors Inc now owns 2,581 shares of the construction company’s stock worth $405,000 after purchasing an additional 1,260 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Advanced Drainage Systems by 560.7% in the 2nd quarter. Baird Financial Group Inc. now owns 128,123 shares of the construction company’s stock worth $20,110,000 after purchasing an additional 108,732 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE:WMS) designs and manufactures water management solutions for infrastructure, construction, agriculture and residential applications. The company is best known for its thermoplastic corrugated pipe and related products used to manage stormwater, drainage and wastewater.

Its product portfolio includes stormwater detention and treatment systems, drainage pipe, septic wastewater systems, fittings, chambers, pumps and other water management components. Advanced Drainage Systems also provides products for agricultural drainage, commercial and residential construction, and large-scale infrastructure projects.

Founded in 1966 and headquartered in Hilliard, Ohio, the company serves customers primarily across North America through manufacturing facilities, distribution centers and a network of independent distributors.