Advanced Drainage Systems (NYSE:WMS) Given New $160.00 Price Target at Oppenheimer

Advanced Drainage Systems (NYSE:WMS) had its price objective lowered by Oppenheimer from $165.00 to $160.00 in a research report report published on Friday, MarketBeat Ratings reports. The firm currently has an outperform rating on the construction company’s stock.

WMS has been the topic of several other reports. KeyCorp decreased their price objective on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of Advanced Drainage Systems in a research note on Tuesday, April 1st. They issued a “buy” rating and a $134.00 price target on the stock. Loop Capital cut their price objective on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a “buy” rating for the company in a research report on Friday. Robert W. Baird decreased their target price on Advanced Drainage Systems from $146.00 to $141.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, StockNews.com upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

Advanced Drainage Systems Trading Up 3.6%

Shares of NYSE:WMS opened at $121.73 on Friday. The company’s 50-day moving average price is $109.69 and its two-hundred day moving average price is $119.09. Advanced Drainage Systems has a one year low of $93.92 and a one year high of $181.03. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98. The stock has a market capitalization of $9.44 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, May 15th. The construction company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.06). The firm had revenue of $615.76 million during the quarter, compared to the consensus estimate of $653.22 million. Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. Advanced Drainage Systems’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.23 earnings per share. On average, equities analysts forecast that Advanced Drainage Systems will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, May 30th. This is a positive change from Advanced Drainage Systems’s previous quarterly dividend of $0.16. Advanced Drainage Systems’s dividend payout ratio (DPR) is 10.70%.

Hedge Funds Weigh In On Advanced Drainage Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WMS. UMB Bank n.a. increased its position 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 period. Blue Trust Inc. lifted its stake in Advanced Drainage Systems by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock worth $116,000 after purchasing an additional 108 shares during the last quarter. US Bancorp DE lifted its stake in Advanced Drainage Systems by 5.7% during the first quarter. US Bancorp DE now owns 2,017 shares of the construction company’s stock worth $219,000 after purchasing an additional 109 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Advanced Drainage Systems by 76.2% in the 1st quarter. Bessemer Group Inc. now owns 266 shares of the construction company’s stock valued at $29,000 after purchasing an additional 115 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Advanced Drainage Systems by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 2,390 shares of the construction company’s stock valued at $276,000 after purchasing an additional 119 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

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.