Advanced Drainage Systems Inc. (WMS) Rating Increased to Buy at TheStreet
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Advanced Drainage Systems from a hold rating to a sell rating in a research report on Thursday, August 11th. Boenning Scattergood downgraded shares of Advanced Drainage Systems from an outperform rating to a neutral rating in a research report on Thursday, August 11th. Royal Bank Of Canada lifted their price target on shares of Advanced Drainage Systems from $27.00 to $29.00 and gave the company an outperform rating in a research report on Wednesday, June 8th. Finally, Deutsche Bank AG reiterated a hold rating and set a $25.00 price target (up from $24.00) on shares of Advanced Drainage Systems in a research report on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $27.75.
Advanced Drainage Systems (NYSE:WMS) opened at 23.00 on Thursday. The company has a 50-day moving average price of $23.56 and a 200-day moving average price of $24.68. The firm has a market capitalization of $1.70 billion, a PE ratio of 85.19 and a beta of 0.85. Advanced Drainage Systems has a 12-month low of $17.72 and a 12-month high of $32.40.
Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, October 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.13. Advanced Drainage Systems had a net margin of 2.63% and a return on equity of 156.42%. The company earned $358 million during the quarter. On average, analysts predict that Advanced Drainage Systems will post $1.09 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.06 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.24 annualized dividend and a yield of 1.04%.
A number of hedge funds have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in Advanced Drainage Systems by 32.2% in the second quarter. Teacher Retirement System of Texas now owns 5,636 shares of the company’s stock valued at $154,000 after buying an additional 1,372 shares during the last quarter. Legal & General Group Plc boosted its stake in Advanced Drainage Systems by 0.3% in the first quarter. Legal & General Group Plc now owns 9,099 shares of the company’s stock valued at $187,000 after buying an additional 23 shares during the last quarter. Pitcairn Co. purchased a new stake in Advanced Drainage Systems during the second quarter valued at approximately $224,000. Springbok Capital Management LLC purchased a new stake in Advanced Drainage Systems during the first quarter valued at approximately $245,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Advanced Drainage Systems during the second quarter valued at approximately $287,000. 70.37% of the stock is owned by hedge funds and other institutional investors.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc designs, manufactures and markets thermoplastic corrugated pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products.
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