Advanced Drainage Systems (NYSE:WMS) Price Target Raised to $159.00

Key Points

• KeyCorp has raised its target price for Advanced Drainage Systems (NYSE:WMS) from $140.00 to $159.00, indicating a potential upside of 18.20% from the stock's previous close.
• Analysts from Barclays also increased their price target to $160.00, while UBS Group and Robert W. Baird adjusted their targets down to $146.00 and $141.00, respectively.
• Advanced Drainage Systems reported earnings of $1.95 per share for the latest quarter, exceeding estimates and marking a 1.8% increase in revenue compared to the same quarter last year.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) had its price objective upped by research analysts at KeyCorp from $140.00 to $159.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. KeyCorp's price target would indicate a potential upside of 20.78% from the company's previous close.

A number of other equities analysts have also recently weighed in on WMS. Barclays lifted their price target on shares of Advanced Drainage Systems from $135.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday. UBS Group reduced their price target on shares of Advanced Drainage Systems from $155.00 to $146.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Loop Capital reduced their target price on shares of Advanced Drainage Systems from $143.00 to $133.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Wall Street Zen cut Advanced Drainage Systems from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Finally, Oppenheimer lowered their target price on Advanced Drainage Systems from $165.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $148.63.

Advanced Drainage Systems Trading Down 1.4%

WMS stock traded down $1.88 during midday trading on Friday, reaching $131.64. The company's stock had a trading volume of 1,002,467 shares, compared to its average volume of 719,529. The business's 50-day simple moving average is $116.38 and its 200-day simple moving average is $114.37. The stock has a market cap of $10.22 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.91 and a beta of 1.27. Advanced Drainage Systems has a 52 week low of $93.92 and a 52 week high of $166.03. The company has a quick ratio of 2.10, a current ratio of 3.22 and a debt-to-equity ratio of 0.82.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.17. The company had revenue of $829.88 million for the quarter, compared to analysts' expectations of $800.54 million. Advanced Drainage Systems had a net margin of 14.82% and a return on equity of 29.57%. The business's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $2.06 earnings per share. As a group, sell-side analysts expect that Advanced Drainage Systems will post 6.1 EPS for the current year.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of large investors have recently modified their holdings of WMS. LPL Financial LLC boosted its stake in shares of Advanced Drainage Systems by 5.8% during the 4th quarter. LPL Financial LLC now owns 17,801 shares of the construction company's stock worth $2,058,000 after buying an additional 980 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Advanced Drainage Systems by 0.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 63,540 shares of the construction company's stock valued at $7,345,000 after purchasing an additional 308 shares during the last quarter. Cerity Partners LLC lifted its stake in Advanced Drainage Systems by 10.4% in the 4th quarter. Cerity Partners LLC now owns 31,402 shares of the construction company's stock valued at $3,977,000 after purchasing an additional 2,970 shares during the last quarter. FIL Ltd lifted its stake in Advanced Drainage Systems by 31.6% in the 4th quarter. FIL Ltd now owns 359,955 shares of the construction company's stock valued at $41,611,000 after purchasing an additional 86,452 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Advanced Drainage Systems in the 4th quarter valued at about $353,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.