KeyCorp Has Lowered Expectations for Advanced Drainage Systems (NYSE:WMS) Stock Price

Advanced Drainage Systems (NYSE:WMS) had its target price cut by KeyCorp from $195.00 to $180.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the construction company’s stock. KeyCorp’s price target would indicate a potential upside of 37.44% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Loop Capital reduced their target price on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Robert W. Baird reduced their price objective on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Barclays lowered their target price on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. StockNews.com cut shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Oppenheimer restated an “outperform” rating and issued a $192.00 price objective on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $178.57.

Advanced Drainage Systems Trading Down 3.6 %

WMS opened at $130.97 on Monday. The firm has a 50 day simple moving average of $150.84 and a 200 day simple moving average of $159.35. Advanced Drainage Systems has a fifty-two week low of $112.11 and a fifty-two week high of $184.27. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WMS. Empowered Funds LLC boosted its position in Advanced Drainage Systems by 10.1% during the 1st quarter. Empowered Funds LLC now owns 7,696 shares of the construction company’s stock worth $1,326,000 after acquiring an additional 707 shares during the last quarter. QRG Capital Management Inc. acquired a new position in Advanced Drainage Systems during the first quarter worth $201,000. Russell Investments Group Ltd. grew its position in Advanced Drainage Systems by 63.0% in the first quarter. Russell Investments Group Ltd. now owns 66,714 shares of the construction company’s stock valued at $11,474,000 after purchasing an additional 25,786 shares in the last quarter. US Bancorp DE increased its stake in Advanced Drainage Systems by 11.8% in the 1st quarter. US Bancorp DE now owns 2,475 shares of the construction company’s stock valued at $426,000 after buying an additional 262 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in Advanced Drainage Systems during the 1st quarter worth about $346,000. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Company Profile

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.