Advanced Drainage Systems (NYSE:WMS) Hits New 12-Month Low After Analyst Downgrade

Advanced Drainage Systems, Inc. (NYSE:WMS)’s share price hit a new 52-week low on Wednesday after Barclays lowered their price target on the stock from $149.00 to $130.00. Barclays currently has an overweight rating on the stock. Advanced Drainage Systems traded as low as $93.92 and last traded at $97.01, with a volume of 68132 shares traded. The stock had previously closed at $96.79.

Other equities research analysts also recently issued research reports about the company. Loop Capital reduced their target price on Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Advanced Drainage Systems in a research note on Tuesday, April 1st. They issued a “buy” rating and a $134.00 price objective on the stock. UBS Group raised Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Wednesday, January 8th. Stephens restated an “equal weight” rating and issued a $135.00 price target on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Finally, KeyCorp lowered their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $153.78.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. NBC Securities Inc. bought a new stake in Advanced Drainage Systems during the 1st quarter worth approximately $26,000. Mascagni Wealth Management Inc. acquired a new position in shares of Advanced Drainage Systems during the fourth quarter worth $74,000. UMB Bank n.a. grew its stake in shares of Advanced Drainage Systems by 12.7% in the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock worth $90,000 after purchasing an additional 88 shares during the last quarter. Spire Wealth Management acquired a new stake in Advanced Drainage Systems in the fourth quarter valued at $94,000. Finally, First Horizon Advisors Inc. increased its holdings in Advanced Drainage Systems by 18.3% in the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock valued at $102,000 after purchasing an additional 137 shares during the period. Institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Stock Performance

The firm has a market capitalization of $7.99 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. The company has a 50-day moving average of $112.54 and a 200-day moving average of $126.91. The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. On average, equities analysts anticipate that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio is currently 10.70%.

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.