KeyCorp Raises Advanced Drainage Systems (NYSE:WMS) Price Target to $185.00

Advanced Drainage Systems (NYSE:WMSFree Report) had its price target lifted by KeyCorp from $160.00 to $185.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Several other research firms also recently weighed in on WMS. Stephens increased their price target on Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an overweight rating in a research note on Friday. Barclays raised their price target on Advanced Drainage Systems from $151.00 to $156.00 and gave the company an overweight rating in a report on Wednesday, December 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $155.13.

Check Out Our Latest Report on Advanced Drainage Systems

Advanced Drainage Systems Trading Up 0.9 %

Shares of Advanced Drainage Systems stock opened at $163.46 on Friday. The stock has a fifty day simple moving average of $134.98 and a 200 day simple moving average of $124.83. Advanced Drainage Systems has a 12-month low of $75.02 and a 12-month high of $164.40. The company has a market capitalization of $12.69 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 2.58 and a beta of 1.45. The company has a current ratio of 3.03, a quick ratio of 2.04 and a debt-to-equity ratio of 1.18.

Advanced Drainage Systems (NYSE:WMSGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.44. The firm had revenue of $662.37 million during the quarter, compared to the consensus estimate of $632.69 million. Advanced Drainage Systems had a return on equity of 49.79% and a net margin of 17.65%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.99 EPS. On average, sell-side analysts anticipate that Advanced Drainage Systems will post 5.52 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, February 29th. This represents a $0.56 annualized dividend and a yield of 0.34%. Advanced Drainage Systems’s payout ratio is 8.90%.

Hedge Funds Weigh In On Advanced Drainage Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Advanced Drainage Systems by 5.1% during the 2nd quarter. Geode Capital Management LLC now owns 916,462 shares of the construction company’s stock worth $104,275,000 after acquiring an additional 44,265 shares during the last quarter. New York Life Investment Management LLC grew its position in Advanced Drainage Systems by 113.9% during the 3rd quarter. New York Life Investment Management LLC now owns 7,316 shares of the construction company’s stock worth $833,000 after acquiring an additional 3,896 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Advanced Drainage Systems during the 3rd quarter worth approximately $1,383,000. Comerica Bank bought a new position in Advanced Drainage Systems during the 2nd quarter worth approximately $29,937,000. Finally, Retirement Systems of Alabama grew its position in Advanced Drainage Systems by 7.3% during the 3rd quarter. Retirement Systems of Alabama now owns 86,465 shares of the construction company’s stock worth $9,842,000 after acquiring an additional 5,857 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

About Advanced Drainage Systems

(Get Free Report)

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.

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