Advanced Drainage Systems’ (WMS) Buy Rating Reaffirmed at Robert W. Baird
Robert W. Baird reiterated their buy rating on shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in a research note issued to investors on Friday. The firm currently has a $24.00 price target on the construction company’s stock.
Several other equities analysts have also commented on the company. Boenning Scattergood reiterated a hold rating on shares of Advanced Drainage Systems in a research note on Thursday, May 25th. Zacks Investment Research upgraded Advanced Drainage Systems from a sell rating to a buy rating and set a $22.00 target price for the company in a research note on Thursday, July 13th. BidaskClub upgraded Advanced Drainage Systems from a strong sell rating to a sell rating in a research note on Monday, July 31st. Royal Bank Of Canada reiterated a hold rating on shares of Advanced Drainage Systems in a research note on Friday, May 26th. Finally, ValuEngine lowered Advanced Drainage Systems from a hold rating to a sell rating in a research note on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Advanced Drainage Systems presently has a consensus rating of Hold and an average target price of $23.67.
Shares of Advanced Drainage Systems (NYSE WMS) traded up 2.20% during mid-day trading on Friday, reaching $20.90. The company’s stock had a trading volume of 292,453 shares. Advanced Drainage Systems has a 1-year low of $18.40 and a 1-year high of $26.30. The company’s 50-day moving average is $20.09 and its 200 day moving average is $21.10. The firm has a market capitalization of $1.15 billion, a P/E ratio of 42.39 and a beta of 0.93.
Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, August 3rd. The construction company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.06. Advanced Drainage Systems had a return on equity of 62.10% and a net margin of 2.50%. The company had revenue of $358.36 million during the quarter, compared to analyst estimates of $372.63 million. During the same period last year, the firm earned $0.29 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. On average, analysts expect that Advanced Drainage Systems will post $1.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Wednesday, August 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 60.87%.
In related news, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was bought at an average price of $20.32 per share, with a total value of $70,028,673.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Joseph A. Chlapaty bought 10,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was bought at an average cost of $20.28 per share, with a total value of $202,800.00. Following the transaction, the chairman now directly owns 227,786 shares of the company’s stock, valued at $4,619,500.08. The disclosure for this purchase can be found here. 21.43% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of Advanced Drainage Systems by 133.4% in the second quarter. BNP Paribas Arbitrage SA now owns 5,259 shares of the construction company’s stock worth $106,000 after buying an additional 3,006 shares during the period. Sei Investments Co. purchased a new stake in shares of Advanced Drainage Systems in the first quarter worth about $157,000. Manchester Capital Management LLC boosted its position in shares of Advanced Drainage Systems by 1.0% in the second quarter. Manchester Capital Management LLC now owns 9,770 shares of the construction company’s stock worth $196,000 after buying an additional 100 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Advanced Drainage Systems in the first quarter worth about $238,000. Finally, FMR LLC purchased a new stake in shares of Advanced Drainage Systems in the second quarter worth about $245,000. 78.79% of the stock is owned by institutional investors.
Advanced Drainage Systems Company Profile
Advanced Drainage Systems, Inc is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States.
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