Advanced Drainage Systems (NYSE:WMS) Releases Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Advanced Drainage Systems (NYSE:WMS) released its quarterly earnings results on Thursday. The construction company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.10, FiscalAI reports. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The company had revenue of $676.76 million during the quarter, compared to the consensus estimate of $651.92 million. During the same period in the prior year, the firm earned $1.03 earnings per share. Advanced Drainage Systems’s revenue was up 9.9% on a year-over-year basis.

Advanced Drainage Systems Trading Down 1.1%

NYSE:WMS opened at $135.35 on Thursday. Advanced Drainage Systems has a 52 week low of $105.14 and a 52 week high of $179.32. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 1.38 and a beta of 1.33. The company’s 50 day moving average price is $142.80 and its 200-day moving average price is $150.22. The company has a quick ratio of 3.08, a current ratio of 4.12 and a debt-to-equity ratio of 0.72.

Institutional Investors Weigh In On Advanced Drainage Systems

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its stake in shares of Advanced Drainage Systems by 352.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock worth $26,000 after acquiring an additional 176 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Advanced Drainage Systems in the third quarter worth approximately $36,000. Kestra Advisory Services LLC purchased a new stake in Advanced Drainage Systems in the fourth quarter worth approximately $37,000. Los Angeles Capital Management LLC bought a new stake in Advanced Drainage Systems in the 4th quarter worth approximately $42,000. Finally, Danske Bank A S bought a new stake in Advanced Drainage Systems in the 3rd quarter worth approximately $55,000. 89.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WMS has been the subject of several research reports. KeyCorp increased their target price on Advanced Drainage Systems from $180.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Royal Bank Of Canada upped their price target on Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Advanced Drainage Systems in a report on Monday, April 20th. UBS Group set a $215.00 price objective on Advanced Drainage Systems and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, Robert W. Baird set a $205.00 target price on shares of Advanced Drainage Systems in a report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.83.

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.