Advanced Drainage Systems Inc (WMS) Given Average Rating of “Hold” by Analysts

Advanced Drainage Systems Inc (NYSE:WMS) has been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $30.25.

A number of equities research analysts have issued reports on WMS shares. Zacks Investment Research upgraded Advanced Drainage Systems from a “hold” rating to a “strong-buy” rating and set a $34.00 target price on the stock in a research note on Tuesday, June 5th. Robert W. Baird raised their target price on Advanced Drainage Systems from $29.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, May 30th. ValuEngine upgraded Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Finally, Barclays raised their target price on Advanced Drainage Systems from $25.00 to $29.00 and gave the company a “hold” rating in a research note on Wednesday, May 30th.

In other Advanced Drainage Systems news, Chairman Joseph A. Chlapaty sold 900,000 shares of the firm’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $28.82, for a total value of $25,938,000.00. Following the sale, the chairman now directly owns 745,556 shares in the company, valued at $21,486,923.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ewout Leeuwenburg sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $28.80, for a total value of $576,000.00. Following the completion of the sale, the senior vice president now owns 53,062 shares in the company, valued at $1,528,185.60. The disclosure for this sale can be found here. Insiders sold 1,031,000 shares of company stock worth $29,686,220 over the last quarter. 20.97% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Advanced Drainage Systems by 0.7% during the first quarter. BlackRock Inc. now owns 2,376,615 shares of the construction company’s stock valued at $61,553,000 after purchasing an additional 15,512 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Advanced Drainage Systems by 3.8% during the first quarter. JPMorgan Chase & Co. now owns 1,350,900 shares of the construction company’s stock valued at $34,989,000 after purchasing an additional 49,634 shares in the last quarter. GCA Investment Management LLC raised its stake in shares of Advanced Drainage Systems by 7.7% during the fourth quarter. GCA Investment Management LLC now owns 971,663 shares of the construction company’s stock valued at $23,174,000 after purchasing an additional 69,397 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Advanced Drainage Systems by 15.4% during the first quarter. Dimensional Fund Advisors LP now owns 824,943 shares of the construction company’s stock valued at $21,366,000 after purchasing an additional 110,262 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of Advanced Drainage Systems during the fourth quarter valued at about $13,892,000. Institutional investors and hedge funds own 78.08% of the company’s stock.

Advanced Drainage Systems traded up $0.40, hitting $28.95, during trading hours on Thursday, according to MarketBeat. 347,400 shares of the stock were exchanged, compared to its average volume of 285,149. Advanced Drainage Systems has a 12 month low of $17.90 and a 12 month high of $31.00. The stock has a market capitalization of $1.63 billion, a PE ratio of 35.71 and a beta of 0.93. The company has a debt-to-equity ratio of 2.47, a current ratio of 2.07 and a quick ratio of 0.88.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Tuesday, May 29th. The construction company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.05). Advanced Drainage Systems had a return on equity of 47.40% and a net margin of 4.62%. The firm had revenue of $250.10 million for the quarter, compared to the consensus estimate of $253.38 million. During the same quarter last year, the business earned ($0.22) earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. research analysts anticipate that Advanced Drainage Systems will post 0.91 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Tuesday, June 5th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.11%. This is a boost from Advanced Drainage Systems’s previous quarterly dividend of $0.07. The ex-dividend date was Monday, June 4th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 39.51%.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products for non-residential, residential, agriculture, and infrastructure applications in the United States and internationally. The company provides single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products comprising storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

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