Advanced Drainage Systems, Inc. (WMS) Given “Buy” Rating at Robert W. Baird
Robert W. Baird reiterated their buy rating on shares of Advanced Drainage Systems, Inc. (NYSE:WMS) in a report released on Wednesday. The firm currently has a $25.00 price target on the construction company’s stock.
WMS has been the subject of a number of other research reports. Boenning Scattergood reissued a hold rating on shares of Advanced Drainage Systems in a research report on Thursday, August 3rd. ValuEngine lowered shares of Advanced Drainage Systems from a hold rating to a sell rating in a research report on Tuesday, August 8th. BidaskClub raised shares of Advanced Drainage Systems from a strong sell rating to a sell rating in a research report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Advanced Drainage Systems from a buy rating to a sell rating in a research report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $24.00.
Advanced Drainage Systems (WMS) traded down 0.25% during mid-day trading on Wednesday, reaching $19.95. 237,080 shares of the company’s stock were exchanged. Advanced Drainage Systems has a 1-year low of $18.40 and a 1-year high of $26.30. The stock has a market capitalization of $1.10 billion, a PE ratio of 40.47 and a beta of 0.94. The firm’s 50-day moving average is $20.05 and its 200 day moving average is $20.85.
Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, August 3rd. The construction company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). The business had revenue of $358.36 million for the quarter, compared to analyst estimates of $372.63 million. Advanced Drainage Systems had a return on equity of 62.10% and a net margin of 2.50%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. Analysts forecast that Advanced Drainage Systems will post $1.09 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were issued a $0.07 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.40%. Advanced Drainage Systems’s payout ratio is 60.87%.
In related news, EVP Robert M. Klein sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $20.77, for a total value of $415,400.00. Following the completion of the sale, the executive vice president now directly owns 340,205 shares in the company, valued at $7,066,057.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Berkshire Partners Holdings Ll bought 3,446,293 shares of the stock in a transaction that occurred on 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 disclosure for this purchase can be found here. 21.43% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its stake in Advanced Drainage Systems by 133.4% during 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 Advanced Drainage Systems during the first quarter worth approximately $157,000. Manchester Capital Management LLC grew its stake in Advanced Drainage Systems by 1.0% during 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 Advanced Drainage Systems during the first quarter worth approximately $238,000. Finally, FMR LLC purchased a new stake in Advanced Drainage Systems during the second quarter worth approximately $245,000. Institutional investors own 78.58% of the company’s stock.
About Advanced Drainage Systems
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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