Barclays Has Lowered Expectations for Advanced Drainage Systems (NYSE:WMS) Stock Price

Advanced Drainage Systems (NYSE:WMS) had its target price cut by equities research analysts at Barclays from $191.00 to $183.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the construction company’s stock. Barclays‘s price target points to a potential upside of 49.25% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Oppenheimer cut their target price on Advanced Drainage Systems from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Friday, October 9th. Royal Bank Of Canada dropped their price target on shares of Advanced Drainage Systems from $178.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. 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. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Thursday, October 15th. Finally, Stephens reaffirmed an “overweight” rating and issued a $175.00 target price on shares of Advanced Drainage Systems in a report on Monday, September 21st. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.60.

Advanced Drainage Systems Stock Down 0.0%

Shares of WMS traded down $0.01 during mid-day trading on Friday, reaching $122.61. The company had a trading volume of 251,928 shares, compared to its average volume of 822,174. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 2.12. The firm has a 50-day moving average price of $130.34 and a 200 day moving average price of $143.25. Advanced Drainage Systems has a 52 week low of $119.53 and a 52 week high of $179.32. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.65 and a beta of 1.30.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly 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. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%. The company had revenue of $889.41 million for the quarter, compared to the consensus estimate of $921.79 million. During the same quarter in the prior year, the business posted $1.97 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side analysts forecast that Advanced Drainage Systems will post 6.57 EPS for the current year.

Hedge Funds Weigh In On Advanced Drainage Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP bought a new stake in shares of Advanced Drainage Systems in the second quarter worth approximately $26,000. Gen Wealth Partners Inc bought a new position in Advanced Drainage Systems during the third quarter valued at approximately $29,000. Avalon Trust Co bought a new position in Advanced Drainage Systems during the second quarter valued at approximately $42,000. Vega Investment Solutions purchased a new stake in Advanced Drainage Systems in the second quarter worth approximately $50,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Advanced Drainage Systems in the second quarter worth approximately $55,000. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems News Roundup

Here are the key news stories impacting Advanced Drainage Systems this week:

• Positive Sentiment: ADS declared a quarterly dividend of $0.20 per share, payable December 15 to shareholders of record December 1. That equates to $0.80 annually and a yield of about 0.6%. Dividend details
• Positive Sentiment: Quarterly EPS of $1.88 topped the $1.81 consensus estimate cited in one report, and revenue rose 4.6% year over year. Quarterly earnings results
• Negative Sentiment: Revenue of $889.41 million missed the $921.79 million estimate, while EPS fell from $1.97 a year earlier. Other coverage cited an EPS consensus of $1.89, meaning the $1.88 result also missed that benchmark. Revenue miss and stock reaction
• Negative Sentiment: Reports said the company cut its guidance, adding to investor concerns about its outlook. The earnings disappointments and guidance reduction were cited as reasons WMS shares fell sharply. Results and guidance coverage

Advanced Drainage Systems Company Profile

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.