Advanced Drainage Systems (NYSE:WMS) Price Target Cut to $161.00 by Analysts at Robert W. Baird

Advanced Drainage Systems (NYSE:WMS) had its price objective reduced by Robert W. Baird from $174.00 to $161.00 in a research report sent to investors on Monday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the construction company’s stock.

WMS has been the subject of a number of other research reports. Loop Capital dropped their target price 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. StockNews.com downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Oppenheimer lowered their target price on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a report on Monday. Barclays reduced their price objective on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, KeyCorp dropped their target price on Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a report on Monday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus target price of $170.29.

Advanced Drainage Systems Stock Down 2.1 %

WMS opened at $130.31 on Monday. The company has a market cap of $10.10 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.19 and a beta of 1.53. Advanced Drainage Systems has a twelve month low of $116.98 and a twelve month high of $184.27. The company has a 50-day moving average price of $150.43 and a 200 day moving average price of $158.96. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). The firm had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. Advanced Drainage Systems’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.71 EPS. Sell-side analysts expect that Advanced Drainage Systems will post 6.5 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems’s dividend payout ratio is currently 10.19%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Verition Fund Management LLC purchased a new stake in Advanced Drainage Systems during the third quarter worth approximately $6,544,000. Isthmus Partners LLC raised its holdings in Advanced Drainage Systems by 15.3% during the third quarter. Isthmus Partners LLC now owns 2,572 shares of the construction company’s stock worth $404,000 after purchasing an additional 342 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Advanced Drainage Systems by 3.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 97,348 shares of the construction company’s stock worth $15,299,000 after purchasing an additional 3,185 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Advanced Drainage Systems by 1.7% during the 3rd quarter. MetLife Investment Management LLC now owns 37,662 shares of the construction company’s stock worth $5,919,000 after buying an additional 646 shares during the last quarter. Finally, Fernbridge Capital Management LP boosted its holdings in shares of Advanced Drainage Systems by 108.2% in the 3rd quarter. Fernbridge Capital Management LP now owns 253,549 shares of the construction company’s stock valued at $39,848,000 after buying an additional 131,781 shares in the last quarter. 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.