Advanced Drainage Systems Inc (NYSE:WMS) Receives $29.33 Average Price Target from Brokerages

Shares of Advanced Drainage Systems Inc (NYSE:WMS) have been assigned an average recommendation of “Hold” from the six analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $29.33.

Separately, Zacks Investment Research raised shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Friday, April 12th.

WMS opened at $30.35 on Thursday. The company has a market cap of $1.75 billion, a P/E ratio of 24.88 and a beta of 0.88. Advanced Drainage Systems has a 1 year low of $23.04 and a 1 year high of $33.50. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.26 and a quick ratio of 0.98.

Advanced Drainage Systems (NYSE:WMS) last posted its earnings results on Thursday, May 23rd. The construction company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.03. The firm had revenue of $272.22 million during the quarter, compared to the consensus estimate of $274.41 million. Advanced Drainage Systems had a net margin of 5.39% and a return on equity of 37.25%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS. On average, analysts expect that Advanced Drainage Systems will post 1.27 earnings per share for the current year.

The business also recently declared a special dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a $1.00 dividend. The ex-dividend date is Friday, May 31st. This is a boost from Advanced Drainage Systems’s previous special dividend of $0.08. Advanced Drainage Systems’s dividend payout ratio is currently 29.51%.

In other Advanced Drainage Systems news, EVP Ronald R. Vitarelli sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $25.47, for a total value of $63,675.00. Following the completion of the transaction, the executive vice president now owns 30,285 shares in the company, valued at approximately $771,358.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 20.97% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WMS. Norges Bank purchased a new position in Advanced Drainage Systems in the 4th quarter worth approximately $24,393,000. Beck Mack & Oliver LLC purchased a new position in Advanced Drainage Systems in the 1st quarter worth approximately $18,823,000. Marshall Wace LLP boosted its holdings in Advanced Drainage Systems by 1,497.6% in the 1st quarter. Marshall Wace LLP now owns 705,918 shares of the construction company’s stock worth $18,191,000 after acquiring an additional 661,733 shares during the period. MIG Capital LLC purchased a new position in Advanced Drainage Systems in the 1st quarter worth approximately $14,668,000. Finally, Wellington Management Group LLP boosted its holdings in Advanced Drainage Systems by 6.3% in the 1st quarter. Wellington Management Group LLP now owns 5,402,710 shares of the construction company’s stock worth $139,228,000 after acquiring an additional 322,119 shares during the period. Hedge funds and other institutional investors own 79.71% of the company’s stock.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

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