Advanced Drainage Systems (NYSE:WMS) Reaches New 52-Week Low – Time to Sell?

Shares of Advanced Drainage Systems, Inc. (NYSE:WMS) hit a new 52-week low on Monday . The stock traded as low as $113.10 and last traded at $114.11, with a volume of 37035 shares. The stock had previously closed at $115.58.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stephens reiterated an “equal weight” rating and issued a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. KeyCorp decreased 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 report on Monday, November 11th. Loop Capital dropped their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Oppenheimer dropped their target price on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Finally, Robert W. Baird lowered their price target on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $170.29.

Advanced Drainage Systems Price Performance

The business’s 50-day simple moving average is $133.13 and its 200 day simple moving average is $148.67. The company has a market capitalization of $8.96 billion, a P/E ratio of 18.41, a P/E/G ratio of 1.22 and a beta of 1.48. The company has a current ratio of 3.19, a quick ratio of 2.15 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $782.60 million during the quarter, compared to analyst estimates of $819.41 million. During the same quarter last year, the company earned $1.71 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts anticipate that Advanced Drainage Systems, Inc. will post 6.12 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, December 2nd. Advanced Drainage Systems’s payout ratio is 10.19%.

Institutional Trading of Advanced Drainage Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in Advanced Drainage Systems by 8.8% in the third quarter. State Street Corp now owns 2,541,688 shares of the construction company’s stock worth $399,452,000 after buying an additional 206,105 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of Advanced Drainage Systems during the third quarter worth $2,694,000. Advantage Alpha Capital Partners LP purchased a new stake in shares of Advanced Drainage Systems during the third quarter valued at $8,540,000. Swedbank AB increased its stake in Advanced Drainage Systems by 5.8% in the 3rd quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock worth $217,553,000 after purchasing an additional 75,455 shares in the last quarter. Finally, Rathbones Group PLC raised its holdings in Advanced Drainage Systems by 4.3% during the 2nd quarter. Rathbones Group PLC now owns 206,970 shares of the construction company’s stock worth $33,196,000 after buying an additional 8,468 shares during the period. 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.