Advanced Drainage Systems (NYSE:WMS) issued its quarterly earnings results on Thursday. The construction company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.41), Briefing.com reports. The firm had revenue of $495.90 million during the quarter, compared to analysts’ expectations of $473.84 million. Advanced Drainage Systems had a positive return on equity of 34.94% and a negative net margin of 12.86%. Advanced Drainage Systems’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 earnings per share.
WMS stock traded down $0.04 during midday trading on Friday, hitting $37.96. The stock had a trading volume of 481,781 shares, compared to its average volume of 325,136. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 31.11 and a beta of 0.94. The business has a 50-day moving average of $34.98 and a two-hundred day moving average of $32.04. Advanced Drainage Systems has a 52-week low of $23.04 and a 52-week high of $39.69. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.97 and a quick ratio of 1.03.
Several equities research analysts recently weighed in on the company. Robert W. Baird set a $68.00 price target on Advanced Drainage Systems and gave the stock a “hold” rating in a research note on Friday, October 18th. TheStreet cut Advanced Drainage Systems from a “b” rating to a “c” rating in a research note on Friday, August 2nd. ValuEngine cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Zacks Investment Research reaffirmed a “hold” rating and issued a $38.00 price target on shares of Advanced Drainage Systems in a research note on Saturday, October 12th. Finally, Barclays upped their price target on 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. Six investment analysts have rated the stock with a hold rating, Advanced Drainage Systems currently has a consensus rating of “Hold” and a consensus price target of $42.00.
In related news, Director Ross M. Jones bought 11,610 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were purchased at an average cost of $32.86 per share, with a total value of $381,504.60. Following the completion of the purchase, the director now owns 10,507 shares in the company, valued at approximately $345,260.02. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Berkshire Partners Holdings Ll bought 85,400 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was bought at an average cost of $31.44 per share, for a total transaction of $2,684,976.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 2,462,193 shares of company stock worth $73,912,528. Insiders own 20.84% of the company’s stock.
Advanced Drainage Systems Company Profile
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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