Advanced Drainage Systems (NYSE:WMS) Sets New 1-Year Low – Here’s Why

Advanced Drainage Systems, Inc. (NYSE:WMS)’s share price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $120.14 and last traded at $126.5690, with a volume of 124,784 shares. The stock had previously closed at $144.07.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WMS shares. UBS Group lifted their price target on shares of Advanced Drainage Systems from $205.00 to $207.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Zacks Research raised shares of Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. Barclays raised their price objective on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Oppenheimer dropped their target price on Advanced Drainage Systems from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Finally, Robert W. Baird set a $206.00 target price on Advanced Drainage Systems 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 company. According to MarketBeat, Advanced Drainage Systems presently has an average rating of “Moderate Buy” and an average target price of $187.40.

Advanced Drainage Systems Stock Performance

The company has a quick ratio of 1.18, a current ratio of 2.12 and a debt-to-equity ratio of 0.95. The business has a 50 day simple moving average of $130.70 and a two-hundred day simple moving average of $143.43. The firm has a market cap of $9.39 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.56 and a beta of 1.30.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, November 5th. The construction company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.07. The business had revenue of $889.41 million during the quarter, compared to the consensus estimate of $921.79 million. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $1.97 earnings per share. As a group, equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Advanced Drainage Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WMS. New York Life Investment Management LLC grew its stake in Advanced Drainage Systems by 12.8% in the 3rd quarter. New York Life Investment Management LLC now owns 9,612 shares of the construction company’s stock worth $1,218,000 after acquiring an additional 1,088 shares in the last quarter. Gen Wealth Partners Inc purchased a new position in shares of Advanced Drainage Systems during the third quarter worth approximately $29,000. M&G PLC raised its stake in shares of Advanced Drainage Systems by 64.2% during the third quarter. M&G PLC now owns 10,420 shares of the construction company’s stock valued at $1,323,000 after acquiring an additional 4,075 shares in the last quarter. AlphaCore Capital LLC bought a new stake in shares of Advanced Drainage Systems during the third quarter valued at approximately $877,000. Finally, Fulcrum Asset Management LLP bought a new stake in shares of Advanced Drainage Systems during the third quarter valued at approximately $176,000. Institutional investors own 89.83% of the company’s stock.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc (NYSE: WMS) is a manufacturer of water management products and solutions. The company produces thermoplastic corrugated pipe, fittings, drainage structures, stormwater chambers and related products used to manage the collection, conveyance, storage and treatment of water.

Its products serve a range of markets, including residential, commercial, agricultural, infrastructure and environmental applications. Advanced Drainage Systems supplies solutions for stormwater management, septic and wastewater systems, highway and road construction, land development, agriculture and erosion control.

Founded in 1966 and headquartered in Hilliard, Ohio, the company serves customers through a manufacturing and distribution network primarily covering the United States and Canada, with additional international operations.