Brokerages Set Advanced Drainage Systems, Inc. (NYSE:WMS) PT at $139.88

Shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $139.88.

Several brokerages have issued reports on WMS. UBS Group cut their price objective on Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Robert W. Baird cut their price objective on Advanced Drainage Systems from $146.00 to $141.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Barclays increased their price objective on Advanced Drainage Systems from $130.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Stephens reissued an "equal weight" rating and set a $135.00 price objective on shares of Advanced Drainage Systems in a report on Friday, February 7th. Finally, Oppenheimer lowered their target price on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating on the stock in a report on Friday, May 16th.

Advanced Drainage Systems Stock Performance

Shares of WMS stock traded up $0.66 during midday trading on Friday, hitting $108.86. The company had a trading volume of 46,552 shares, compared to its average volume of 599,973. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.21 and a quick ratio of 1.98. The company's 50 day simple moving average is $110.23 and its 200 day simple moving average is $117.34. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.13 and a beta of 1.31. Advanced Drainage Systems has a 52-week low of $93.92 and a 52-week high of $179.57.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The construction company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.06). The company had revenue of $615.76 million for the quarter, compared to analysts' expectations of $653.22 million. Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. The business's quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. Research analysts anticipate that Advanced Drainage Systems will post 6.1 earnings per share for the current fiscal year.

Advanced Drainage Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.18 per share. This is a positive change from Advanced Drainage Systems's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, May 30th. Advanced Drainage Systems's payout ratio is currently 12.50%.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of hedge funds and other institutional investors have recently modified their holdings of WMS. Foresight Group Ltd Liability Partnership lifted its position in shares of Advanced Drainage Systems by 1,377.0% during the first quarter. Foresight Group Ltd Liability Partnership now owns 115,622 shares of the construction company's stock worth $12,559,000 after acquiring an additional 107,794 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Advanced Drainage Systems by 482.8% in the first quarter. Intech Investment Management LLC now owns 28,435 shares of the construction company's stock worth $3,089,000 after buying an additional 23,556 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Advanced Drainage Systems by 50.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,114,224 shares of the construction company's stock worth $338,360,000 after buying an additional 1,049,697 shares during the period. United Services Automobile Association bought a new position in shares of Advanced Drainage Systems during the first quarter valued at approximately $493,000. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of Advanced Drainage Systems by 160.9% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 200,074 shares of the construction company's stock valued at $21,738,000 after acquiring an additional 123,379 shares in the last quarter. Hedge funds and other institutional investors own 89.83% 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 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.