Oppenheimer Issues Pessimistic Forecast for Advanced Drainage Systems (NYSE:WMS) Stock Price

Advanced Drainage Systems (NYSE:WMS) had its target price reduced by Oppenheimer from $192.00 to $184.00 in a report released on Monday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the construction company’s stock.

Several other research analysts have also issued reports on the company. StockNews.com lowered Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Robert W. Baird lowered their price objective on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Barclays dropped their target price on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Loop Capital decreased their price target on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, KeyCorp lowered their price target on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Stock Performance

Shares of WMS stock opened at $133.05 on Monday. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 1.19 and a beta of 1.53. The stock has a fifty day moving average of $150.64 and a 200 day moving average of $159.16. Advanced Drainage Systems has a 52 week low of $116.98 and a 52 week high of $184.27. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The company had revenue of $782.60 million during the quarter, compared to analysts’ expectations of $819.41 million. During the same period in the prior year, the business posted $1.71 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts expect that Advanced Drainage Systems will post 6.5 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s payout ratio is 10.19%.

Institutional Trading of Advanced Drainage Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Advanced Drainage Systems by 319.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock valued at $26,000 after buying an additional 115 shares during the last quarter. West Oak Capital LLC increased its holdings in shares of Advanced Drainage Systems by 133.3% in the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Advanced Drainage Systems by 1,472.7% in the second quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after purchasing an additional 162 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Advanced Drainage Systems in the second quarter worth $45,000. Finally, Huntington National Bank lifted its holdings in shares of Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company’s stock valued at $61,000 after purchasing an additional 213 shares in the last quarter. 89.83% 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 North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.