Advanced Drainage Systems (NYSE:WMS) Sets New 1-Year Low Following Analyst Downgrade

Advanced Drainage Systems, Inc. (NYSE:WMS) reached a new 52-week low during trading on Wednesday after Barclays lowered their price target on the stock from $149.00 to $130.00. Barclays currently has an overweight rating on the stock. Advanced Drainage Systems traded as low as $93.92 and last traded at $97.01, with a volume of 68132 shares. The stock had previously closed at $96.79.

WMS has been the subject of a number of other research reports. Loop Capital lowered their target price on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft began coverage on Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a “buy” rating and a $134.00 price objective for the company. StockNews.com lowered Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, April 1st. Stephens restated an “equal weight” rating and set a $135.00 target price on shares of Advanced Drainage Systems in a research note on Friday, February 7th. Finally, KeyCorp dropped their price target on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.78.

Institutional Investors Weigh In On Advanced Drainage Systems

Several large investors have recently modified their holdings of WMS. Mascagni Wealth Management Inc. purchased a new stake in Advanced Drainage Systems in the 4th quarter valued at $74,000. UMB Bank n.a. raised its holdings in shares of Advanced Drainage Systems by 12.7% in the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock valued at $90,000 after buying an additional 88 shares during the last quarter. Spire Wealth Management acquired a new stake in shares of Advanced Drainage Systems during the fourth quarter worth about $94,000. First Horizon Advisors Inc. boosted its stake in shares of Advanced Drainage Systems by 18.3% during the fourth quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock worth $102,000 after buying an additional 137 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Advanced Drainage Systems by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock worth $116,000 after buying an additional 108 shares during the last quarter. 89.83% of the stock is owned by institutional investors and hedge funds.

Advanced Drainage Systems Price Performance

The company has a 50-day moving average of $113.43 and a 200-day moving average of $127.70. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 1.13 and a beta of 1.48.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a net margin of 15.90% and a return on equity of 35.79%. As a group, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Friday, February 28th. Advanced Drainage Systems’s dividend payout ratio is presently 10.70%.

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.