Shares of Advanced Drainage Systems Inc (NYSE:WMS) have been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $33.50.
Several research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Advanced Drainage Systems from $29.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 6th. ValuEngine lowered shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. TheStreet lowered shares of Advanced Drainage Systems from a “b” rating to a “c” rating in a research note on Friday, August 2nd. Finally, Zacks Investment Research reissued a “hold” rating and set a $38.00 price objective on shares of Advanced Drainage Systems in a research note on Saturday.
In related news, major shareholder Berkshire Partners Holdings Ll purchased 68,310 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $29.75 per share, with a total value of $2,032,222.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ross M. Jones purchased 2,000,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $29.75 per share, for a total transaction of $59,500,000.00. Following the purchase, the director now owns 10,507 shares of the company’s stock, valued at approximately $312,583.25. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,462,193 shares of company stock worth $73,912,528 in the last three months. 20.84% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in WMS. Marshall Wace LLP lifted its stake in Advanced Drainage Systems by 1,497.6% in the first quarter. Marshall Wace LLP now owns 705,918 shares of the construction company’s stock valued at $18,191,000 after buying an additional 661,733 shares in the last quarter. Cramer Rosenthal Mcglynn LLC bought a new position in Advanced Drainage Systems in the second quarter valued at approximately $16,443,000. MIG Capital LLC lifted its stake in Advanced Drainage Systems by 75.7% in the second quarter. MIG Capital LLC now owns 1,000,180 shares of the construction company’s stock valued at $32,796,000 after buying an additional 430,987 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Advanced Drainage Systems in the second quarter valued at approximately $12,363,000. Finally, Bank of New York Mellon Corp lifted its stake in Advanced Drainage Systems by 27.1% in the second quarter. Bank of New York Mellon Corp now owns 894,858 shares of the construction company’s stock valued at $29,342,000 after buying an additional 190,870 shares in the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE WMS traded down $0.16 during mid-day trading on Wednesday, hitting $34.93. The company’s stock had a trading volume of 260,108 shares, compared to its average volume of 320,733. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 28.69 and a beta of 0.92. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.97 and a quick ratio of 1.03. Advanced Drainage Systems has a one year low of $23.04 and a one year high of $35.39. The company’s fifty day simple moving average is $32.29 and its 200-day simple moving average is $30.67.
Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.29). Advanced Drainage Systems had a positive return on equity of 34.94% and a negative net margin of 12.86%. The firm had revenue of $413.70 million for the quarter, compared to the consensus estimate of $413.64 million. During the same period in the previous year, the business earned $0.51 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts predict that Advanced Drainage Systems will post -2.8 EPS for the current year.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.
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