Advanced Drainage Systems (NYSE:WMS) Stock Rating Upgraded by DA Davidson

Advanced Drainage Systems (NYSE:WMS) was upgraded by equities research analysts at DA Davidson to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

WMS has been the topic of several other research reports. National Bank Financial set a $190.00 target price on shares of Advanced Drainage Systems in a report on Monday. Zacks Research raised Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Friday, July 17th. Stephens upgraded shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $190.00 to $175.00 in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada lifted their price objective on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $188.70.

Advanced Drainage Systems Stock Up 0.8%

WMS stock opened at $141.52 on Monday. The firm’s 50-day simple moving average is $146.30 and its 200 day simple moving average is $147.00. The stock has a market cap of $10.67 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.27. The company has a quick ratio of 1.18, a current ratio of 2.12 and a debt-to-equity ratio of 0.95. Advanced Drainage Systems has a fifty-two week low of $128.03 and a fifty-two week high of $179.32.

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

Hedge Funds Weigh In On Advanced Drainage Systems

Several hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC grew its holdings in shares of Advanced Drainage Systems by 406.0% during the 4th quarter. HighTower Advisors LLC now owns 27,302 shares of the construction company’s stock worth $3,954,000 after purchasing an additional 21,906 shares in the last quarter. Pier Capital LLC lifted its position in Advanced Drainage Systems by 69,891.7% in the fourth quarter. Pier Capital LLC now owns 50,394 shares of the construction company’s stock worth $7,299,000 after purchasing an additional 50,322 shares during the period. BlackRock Inc. bought a new position in Advanced Drainage Systems in the second quarter worth $1,172,482,000. Mirabaud Asset Management Ltd acquired a new stake in Advanced Drainage Systems during the fourth quarter worth $3,283,000. Finally, Pictet Asset Management Holding SA boosted its stake in Advanced Drainage Systems by 32.9% during the first quarter. Pictet Asset Management Holding SA now owns 2,204,801 shares of the construction company’s stock worth $302,290,000 after buying an additional 546,298 shares in the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.

The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.