Loop Capital Cuts Advanced Drainage Systems (NYSE:WMS) Price Target to $170.00

Advanced Drainage Systems (NYSE:WMS) had its price objective cut by Loop Capital from $180.00 to $170.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other analysts have also recently issued reports about the company. StockNews.com cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Barclays cut their price objective on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research note on Monday. Robert W. Baird reduced their price objective on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a report on Monday. Oppenheimer dropped their price target on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, KeyCorp decreased their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a report on Monday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $170.29.

Advanced Drainage Systems Stock Performance

WMS stock opened at $133.05 on Monday. The stock’s fifty day moving average is $150.64 and its two-hundred day moving average is $159.16. The stock 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 company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19. Advanced Drainage Systems has a 1 year low of $116.98 and a 1 year high of $184.27.

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

Advanced Drainage Systems Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WMS. MetLife Investment Management LLC lifted its position in shares of Advanced Drainage Systems by 1.7% during the 3rd quarter. MetLife Investment Management LLC now owns 37,662 shares of the construction company’s stock valued at $5,919,000 after acquiring an additional 646 shares during the last quarter. Fernbridge Capital Management LP lifted its holdings in shares of Advanced Drainage Systems by 108.2% during the third quarter. Fernbridge Capital Management LP now owns 253,549 shares of the construction company’s stock valued at $39,848,000 after purchasing an additional 131,781 shares during the last quarter. Townsquare Capital LLC boosted its position in shares of Advanced Drainage Systems by 5.1% in the 3rd quarter. Townsquare Capital LLC now owns 5,213 shares of the construction company’s stock valued at $819,000 after purchasing an additional 255 shares during the period. Thematics Asset Management increased its stake in Advanced Drainage Systems by 4.5% in the 3rd quarter. Thematics Asset Management now owns 93,500 shares of the construction company’s stock worth $14,694,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Advanced Drainage Systems during the 3rd quarter worth about $1,263,000. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Company Profile

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.