Brokerages Set Advanced Drainage Systems Inc (NYSE:WMS) PT at $32.00

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Advanced Drainage Systems Inc (NYSE:WMS) has earned an average rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $32.00.

WMS has been the topic of a number of analyst reports. ValuEngine downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research downgraded shares of Advanced Drainage Systems from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. TheStreet downgraded shares of Advanced Drainage Systems from a “b” rating to a “c” rating in a research report on Friday, August 2nd. Finally, Barclays lifted their price objective on shares of Advanced Drainage Systems from $29.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 6th.

NYSE:WMS opened at $31.22 on Tuesday. The firm has a 50-day simple moving average of $32.87 and a 200-day simple moving average of $29.01. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.03 and a current ratio of 1.97. Advanced Drainage Systems has a one year low of $23.04 and a one year high of $35.29. The firm has a market cap of $1.88 billion, a P/E ratio of 25.59 and a beta of 0.95.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.29). Advanced Drainage Systems had a positive return on equity of 34.94% and a negative net margin of 12.86%. The firm had revenue of $413.70 million during the quarter, compared to analysts’ expectations of $413.64 million. During the same period in the previous year, the firm earned $0.51 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts predict that Advanced Drainage Systems will post -3.12 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.09 dividend. The ex-dividend date is Thursday, August 29th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from Advanced Drainage Systems’s previous quarterly dividend of $0.08. Advanced Drainage Systems’s payout ratio is presently 29.51%.

A number of large investors have recently added to or reduced their stakes in WMS. Investors Research Corp purchased a new stake in Advanced Drainage Systems during the 1st quarter worth approximately $34,000. Point72 Asset Management L.P. purchased a new stake in Advanced Drainage Systems during the 2nd quarter worth approximately $85,000. Quantamental Technologies LLC grew its position in Advanced Drainage Systems by 27.7% during the 2nd quarter. Quantamental Technologies LLC now owns 2,682 shares of the construction company’s stock worth $88,000 after purchasing an additional 582 shares during the last quarter. Bank of Montreal Can purchased a new stake in Advanced Drainage Systems during the 2nd quarter worth approximately $101,000. Finally, NumerixS Investment Technologies Inc grew its position in Advanced Drainage Systems by 109.5% during the 1st quarter. NumerixS Investment Technologies Inc now owns 4,400 shares of the construction company’s stock worth $112,000 after purchasing an additional 2,300 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

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