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

Advanced Drainage Systems (NYSE:WMS)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a research note issued on Tuesday, Marketbeat.com reports. They currently have a $190.00 price objective on the construction company’s stock. DA Davidson’s price objective points to a potential upside of 50.75% from the stock’s previous close.

WMS has been the topic of several other research reports. UBS Group upped their price target on Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Jefferies Financial Group started coverage on shares of Advanced Drainage Systems in a research report on Thursday, June 11th. They set a “buy” rating and a $175.00 price objective on the stock. National Bank Financial set a $190.00 target price on shares of Advanced Drainage Systems in a report on Monday, August 24th. KeyCorp reiterated an “overweight” rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. Finally, Royal Bank Of Canada raised their price target on shares of Advanced Drainage Systems from $170.00 to $178.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and a consensus target price of $188.70.

Advanced Drainage Systems Stock Performance

Advanced Drainage Systems stock opened at $126.04 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12. Advanced Drainage Systems has a fifty-two week low of $124.39 and a fifty-two week high of $179.32. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.42 and a beta of 1.29. The stock’s 50 day simple moving average is $136.00 and its two-hundred day simple moving average is $140.51.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings results 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 company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $991.39 million. During the same period in the prior year, the firm earned $1.95 earnings per share. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, analysts expect that Advanced Drainage Systems will post 6.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Advanced Drainage Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SkyView Investment Advisors LLC bought a new stake in shares of Advanced Drainage Systems in the second quarter worth approximately $283,000. Tidal Investments LLC boosted its holdings in Advanced Drainage Systems by 7.4% in the second quarter. Tidal Investments LLC now owns 9,471 shares of the construction company’s stock worth $1,487,000 after purchasing an additional 652 shares during the last quarter. IFP Advisors Inc grew its position in 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 during the period. Baird Financial Group Inc. grew its position in 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 during the period. Finally, Nykredit A S purchased a new stake in Advanced Drainage Systems during the 2nd quarter valued at $324,000. 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.