Advanced Drainage Systems (NYSE:WMS) Upgraded by DA Davidson to “Strong-Buy” Rating

Advanced Drainage Systems (NYSE:WMS) was upgraded by analysts at DA Davidson to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on WMS. National Bank Financial set a $190.00 target price on shares of Advanced Drainage Systems in a research report on Monday. Royal Bank Of Canada boosted their price target on Advanced Drainage Systems from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Barclays increased their price target on Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. UBS Group lifted their price objective on Advanced Drainage Systems from $205.00 to $207.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, KeyCorp reiterated an “overweight” rating on shares of Advanced Drainage Systems in a research note on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.70.

Advanced Drainage Systems Trading Up 0.8%

Shares of WMS stock opened at $141.52 on Monday. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.54 and a beta of 1.27. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $146.30 and a 200 day moving average price of $147.00. Advanced Drainage Systems has a twelve month low of $128.03 and a twelve month high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.39. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $991.39 million. Advanced Drainage Systems had a net margin of 14.00% and a return on equity of 28.28%. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period last year, the company earned $1.95 EPS. Research analysts forecast that Advanced Drainage Systems will post 6.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of hedge funds have recently made changes to their positions in WMS. Allworth Financial LP purchased a new stake in shares of Advanced Drainage Systems during the 2nd quarter valued at $26,000. Northwestern Mutual Wealth Management Co. increased its stake in Advanced Drainage Systems by 352.0% during 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 last quarter. SJS Investment Consulting Inc. raised its holdings in shares of Advanced Drainage Systems by 78.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock worth $33,000 after purchasing an additional 107 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Advanced Drainage Systems in the 3rd quarter valued at about $36,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Advanced Drainage Systems during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

About Advanced Drainage Systems

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.