Brokerages Set Advanced Drainage Systems, Inc. (NYSE:WMS) Price Target at $187.00

Advanced Drainage Systems, Inc. (NYSE:WMS) has received a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $187.00.

Several analysts recently weighed in on the company. Zacks Research lowered Advanced Drainage Systems from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 17th. Oppenheimer reduced their target price on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, May 26th. KeyCorp reiterated an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Friday, July 17th. Finally, Royal Bank Of Canada upped their price target on Advanced Drainage Systems from $168.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, June 8th.

Advanced Drainage Systems Trading Up 1.1%

NYSE WMS opened at $142.05 on Thursday. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 1.53 and a beta of 1.26. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.42 and a quick ratio of 1.35. Advanced Drainage Systems has a 12 month low of $110.85 and a 12 month high of $179.32. The company’s fifty day moving average price is $142.29 and its two-hundred day moving average price is $148.72.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, May 21st. The construction company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.12. Advanced Drainage Systems had a net margin of 13.98% and a return on equity of 26.63%. The company had revenue of $676.76 million during the quarter, compared to the consensus estimate of $651.92 million. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s revenue was up 9.9% on a year-over-year basis. As a group, research analysts predict that Advanced Drainage Systems will post 6.55 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, June 1st. Advanced Drainage Systems’s dividend payout ratio is currently 14.71%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in shares of Advanced Drainage Systems by 352.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after buying an additional 176 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in Advanced Drainage Systems by 78.1% in the first quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after acquiring an additional 107 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Advanced Drainage Systems in the third quarter worth about $36,000. Kestra Advisory Services LLC acquired a new position in Advanced Drainage Systems in the fourth quarter valued at approximately $37,000. Finally, Clearstead Advisors LLC boosted its stake in Advanced Drainage Systems by 150.8% in the fourth quarter. Clearstead Advisors LLC now owns 301 shares of the construction company’s stock valued at $44,000 after acquiring an additional 181 shares during the period. 89.83% of the stock is currently owned by institutional investors.

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.