Advanced Drainage Systems Inc. (NYSE:WMS) had its price target lowered by Royal Bank Of Canada from $29.00 to $26.00 in a report issued on Friday morning. The brokerage currently has an outperform rating on the stock.
WMS has been the subject of several other reports. Zacks Investment Research upgraded Advanced Drainage Systems from a sell rating to a hold rating in a research report on Friday, September 9th. Boenning Scattergood cut Advanced Drainage Systems from an outperform rating to a neutral rating in a research report on Thursday, August 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $27.75.
Shares of Advanced Drainage Systems (NYSE:WMS) traded up 1.53% during midday trading on Friday, hitting $22.50. The stock had a trading volume of 81,030 shares. The firm’s 50-day moving average price is $23.67 and its 200-day moving average price is $24.62. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 83.33 and a beta of 0.85. Advanced Drainage Systems has a 1-year low of $17.72 and a 1-year high of $32.40.
Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, October 6th. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.13. Advanced Drainage Systems had a return on equity of 156.42% and a net margin of 2.63%. The business earned $358 million during the quarter. Analysts forecast that Advanced Drainage Systems will post $1.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Tuesday, August 30th.
Several large investors have recently added to or reduced their stakes in the stock. Allen Investment Management LLC bought a new stake in Advanced Drainage Systems during the first quarter worth $2,254,000. BlackRock Inc. raised its stake in Advanced Drainage Systems by 11.3% in the first quarter. BlackRock Inc. now owns 14,542 shares of the company’s stock worth $309,000 after buying an additional 1,477 shares during the period. Credit Agricole S A raised its stake in Advanced Drainage Systems by 721.3% in the first quarter. Credit Agricole S A now owns 155,000 shares of the company’s stock worth $3,301,000 after buying an additional 136,128 shares during the period. Schroder Investment Management Group bought a new stake in Advanced Drainage Systems during the second quarter worth $11,386,000. Finally, Springbok Capital Management LLC bought a new stake in Advanced Drainage Systems during the first quarter worth $245,000. 70.37% of the stock is owned by 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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