RBC Capital Markets reiterated their outperform rating on shares of Advanced Drainage Systems Inc. (NYSE:WMS) in a research report released on Saturday morning. The brokerage currently has a $26.00 price objective on the stock, down from their prior price objective of $29.00.
WMS has been the subject of a number of other reports. Zacks Investment Research upgraded Advanced Drainage Systems from a sell rating to a hold rating in a report on Friday, September 9th. Boenning Scattergood lowered Advanced Drainage Systems from an outperform rating to a neutral rating in a report on Thursday, August 11th. Royal Bank Of Canada decreased their target price on Advanced Drainage Systems from $29.00 to $26.00 and set an outperform rating for the company in a report on Friday. Finally, TheStreet upgraded Advanced Drainage Systems from a hold rating to a buy rating in a report on Thursday. One research 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 stock has a consensus rating of Hold and a consensus price target of $27.75.
Advanced Drainage Systems (NYSE:WMS) opened at 22.16 on Friday. Advanced Drainage Systems has a one year low of $17.72 and a one year high of $32.40. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 82.07 and a beta of 0.85. The stock has a 50 day moving average price of $23.67 and a 200-day moving average price of $24.62.
Advanced Drainage Systems (NYSE:WMS) last released its 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. The firm earned $358 million during the quarter. Advanced Drainage Systems had a return on equity of 120.26% and a net margin of 1.60%. On average, analysts predict that Advanced Drainage Systems will post $1.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Tuesday, August 30th.
A number of hedge funds have recently made changes to their positions in the company. Allen Investment Management LLC acquired a new stake in shares of Advanced Drainage Systems during the first quarter worth about $2,254,000. BlackRock Inc. boosted 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 boosted 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 purchased a new stake in Advanced Drainage Systems during the second quarter worth approximately $11,386,000. Finally, Springbok Capital Management LLC purchased a new stake in Advanced Drainage Systems during the first quarter worth approximately $245,000. 70.62% of the stock is owned by institutional investors.
Advanced Drainage Systems Company Profile
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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