DA Davidson assumed coverage on shares of Advanced Drainage Systems (NYSE:WMS – Free Report) in a report published on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $190.00 price objective on the construction company’s stock.
Several other research firms have also commented on WMS. Zacks Research upgraded shares of Advanced Drainage Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. National Bank Financial set a $190.00 price objective on shares of Advanced Drainage Systems in a research note on Monday. Stephens upgraded shares of Advanced Drainage Systems from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $190.00 to $175.00 in a report on Wednesday, May 27th. Barclays lifted their target price on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group began coverage on shares of Advanced Drainage Systems in a report on Thursday, June 11th. They issued a “buy” rating and a $175.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $188.70.
Check Out Our Latest Stock Analysis on Advanced Drainage Systems
Advanced Drainage Systems Stock Performance
Advanced Drainage Systems (NYSE:WMS – Get Free Report) last posted its earnings results on Thursday, August 6th. The construction company reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $991.39 million. During the same period in the previous year, the business earned $1.95 earnings per share. Advanced Drainage Systems’s quarterly revenue was up 20.6% compared to the same quarter last year. Sell-side analysts forecast that Advanced Drainage Systems will post 6.62 earnings per share for the current fiscal year.
Advanced Drainage Systems Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Advanced Drainage Systems’s payout ratio is 13.82%.
Institutional Trading of Advanced Drainage Systems
Several institutional investors and hedge funds have recently made changes to their positions in WMS. Allworth Financial LP purchased a new stake in Advanced Drainage Systems during the 2nd quarter worth about $26,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Advanced Drainage Systems by 352.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after purchasing an additional 176 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in Advanced Drainage Systems by 78.1% in the 1st quarter. SJS Investment Consulting Inc. now owns 244 shares of the construction company’s stock valued at $33,000 after purchasing an additional 107 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Advanced Drainage Systems in the 3rd quarter valued at about $36,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Advanced Drainage Systems during the 4th quarter worth about $37,000. 89.83% of the stock is currently owned by hedge funds and other institutional investors.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.
The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.
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