Oppenheimer Issues Pessimistic Forecast for Advanced Drainage Systems (NYSE:WMS) Stock Price

Advanced Drainage Systems (NYSE:WMS) had its price objective lowered by research analysts at Oppenheimer from $192.00 to $184.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the construction company’s stock. Oppenheimer’s target price points to a potential upside of 40.49% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Barclays cut their price objective on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Robert W. Baird lowered their target price on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Loop Capital cut their price target on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, KeyCorp dropped their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $178.57.

Advanced Drainage Systems Stock Down 3.6 %

Shares of WMS stock opened at $130.97 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The stock has a fifty day moving average price of $150.84 and a 200 day moving average price of $159.35. The stock has a market cap of $10.15 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.53. Advanced Drainage Systems has a one year low of $112.11 and a one year high of $184.27.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). The company had revenue of $782.60 million during the quarter, compared to the consensus estimate of $819.41 million. Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.71 earnings per share. Analysts predict that Advanced Drainage Systems will post 6.95 earnings per share for the current year.

Institutional Investors Weigh In On Advanced Drainage Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Advanced Drainage Systems by 319.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock worth $26,000 after buying an additional 115 shares in the last quarter. West Oak Capital LLC lifted its stake in shares of Advanced Drainage Systems by 133.3% in the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Blue Trust Inc. grew its position in Advanced Drainage Systems by 1,472.7% during the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after acquiring an additional 162 shares during the last quarter. National Bank of Canada FI purchased a new position in shares of Advanced Drainage Systems in the second quarter worth $45,000. Finally, Huntington National Bank increased its stake in shares of Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company’s stock valued at $61,000 after buying an additional 213 shares during the period. 89.83% of the stock is currently owned by institutional investors.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.