Loop Capital Cuts Advanced Drainage Systems (NYSE:WMS) Price Target to $133.00

Advanced Drainage Systems (NYSE:WMS) had its price objective cut by Loop Capital from $143.00 to $133.00 in a report released on Friday morning, MarketBeat reports. They currently have a buy rating on the construction company’s stock.

A number of other analysts have also weighed in on WMS. KeyCorp reduced their price target on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Robert W. Baird cut their target price on Advanced Drainage Systems from $146.00 to $141.00 and set an “outperform” rating for the company in a research report on Friday. Barclays decreased their price target on Advanced Drainage Systems from $149.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. StockNews.com upgraded Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. Finally, Stephens restated an “equal weight” rating and issued a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday, February 7th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $139.88.

Advanced Drainage Systems Stock Up 3.6%

WMS opened at $121.73 on Friday. The stock’s 50 day moving average price is $109.69 and its 200 day moving average price is $119.09. 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 cap of $9.44 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.13 and a beta of 1.31. Advanced Drainage Systems has a 12 month low of $93.92 and a 12 month high of $181.03.

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

Advanced Drainage Systems Increases Dividend

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

Institutional Investors Weigh In On Advanced Drainage Systems

Several large investors have recently modified their holdings of WMS. Assenagon Asset Management S.A. boosted its position in shares of Advanced Drainage Systems by 50.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 96,764 shares of the construction company’s stock valued at $11,186,000 after purchasing an additional 32,418 shares during the period. Outlook Wealth Advisors LLC lifted its stake in Advanced Drainage Systems by 29.4% during the fourth quarter. Outlook Wealth Advisors LLC now owns 2,701 shares of the construction company’s stock valued at $312,000 after buying an additional 613 shares in the last quarter. Foresight Group Ltd Liability Partnership boosted its holdings in shares of Advanced Drainage Systems by 16.3% in the fourth quarter. Foresight Group Ltd Liability Partnership now owns 7,828 shares of the construction company’s stock worth $899,000 after buying an additional 1,097 shares during the period. UMB Bank n.a. boosted its holdings 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 buying an additional 88 shares during the period. Finally, Guinness Asset Management LTD increased its position in shares of Advanced Drainage Systems by 38.3% in the fourth quarter. Guinness Asset Management LTD now owns 4,228 shares of the construction company’s stock worth $489,000 after acquiring an additional 1,171 shares in the last quarter. 89.83% of the stock is owned by institutional investors.

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.