Advanced Drainage Systems (NYSE:WMS) Price Target Lowered to $180.00 at Loop Capital

Advanced Drainage Systems (NYSE:WMS) had its price target reduced by Loop Capital from $188.00 to $180.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other equities research analysts also recently issued reports on the company. StockNews.com downgraded Advanced Drainage Systems from a buy rating to a hold rating in a research report on Wednesday, July 17th. Stephens lifted their price target on Advanced Drainage Systems from $182.00 to $193.00 and gave the company an overweight rating in a research report on Friday, May 17th. Oppenheimer upped their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Northcoast Research assumed coverage on shares of Advanced Drainage Systems in a research report on Wednesday, May 8th. They set a buy rating and a $190.00 target price for the company. Finally, Robert W. Baird cut their price target on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an outperform rating for the company in a research note on Friday. 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 data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $188.43.

Advanced Drainage Systems Price Performance

NYSE WMS traded up $3.63 during trading hours on Monday, hitting $145.53. The company had a trading volume of 23,953 shares, compared to its average volume of 498,382. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89. The firm has a market capitalization of $11.28 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.16 and a beta of 1.55. Advanced Drainage Systems has a 52 week low of $102.32 and a 52 week high of $184.27. The firm has a 50 day simple moving average of $163.59 and a 200 day simple moving average of $163.24.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, May 16th. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.28. The company had revenue of $653.80 million during the quarter, compared to analyst estimates of $611.99 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. Advanced Drainage Systems’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $1.06 earnings per share. Equities research analysts expect that Advanced Drainage Systems will post 7.19 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Advanced Drainage Systems

In related news, EVP Robert M. Klein sold 3,059 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $175.95, for a total transaction of $538,231.05. Following the transaction, the executive vice president now owns 102,070 shares of the company’s stock, valued at approximately $17,959,216.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Robert M. Klein sold 3,059 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $175.95, for a total transaction of $538,231.05. Following the transaction, the executive vice president now directly owns 102,070 shares in the company, valued at approximately $17,959,216.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider D. Scott Barbour sold 85,938 shares of Advanced Drainage Systems stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $174.10, for a total value of $14,961,805.80. Following the completion of the transaction, the insider now directly owns 45,994 shares in the company, valued at $8,007,555.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,004 shares of company stock worth $30,547,285. 2.05% of the stock is currently owned by insiders.

Institutional Trading of Advanced Drainage Systems

Several large investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Advanced Drainage Systems by 319.4% in the 1st 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 during the period. GAMMA Investing LLC purchased a new stake in Advanced Drainage Systems in the fourth quarter worth $28,000. West Oak Capital LLC boosted its holdings in Advanced Drainage Systems by 133.3% in the second 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 in the last quarter. Blue Trust Inc. increased 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 valued at $30,000 after purchasing an additional 162 shares during the period. Finally, Rise Advisors LLC bought a new position in Advanced Drainage Systems in the 1st quarter worth $32,000. 89.83% of the stock is owned by institutional investors.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.