Advanced Drainage Systems, Inc. designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the underground construction and infrastructure marketplace in the United States, Canada, Mexico, 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, mechanical aeration wastewater solutions, septic tanks and accessories, and combined treatment and dispersal systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators. The company also purchases and distributes construction fabrics and other geosynthetic products for soil stabilization, reinforcement, filtration, separation, erosion control, and sub-surface drainage, as well as drainage grates and other products. It offers its products for non-residential, residential, agriculture, and infrastructure applications through a network of approximately 38 distribution centers. The company was incorporated in 1966 and is headquartered in Hilliard, Ohio.
Advanced Drainage Systems Stock Up 2.9 %
NYSE:WMS opened at $148.56 on Monday. Advanced Drainage Systems has a 1-year low of $80.81 and a 1-year high of $149.26. The firm's 50-day moving average price is $104.15 and its 200-day moving average price is $109.47. The company has a market capitalization of $12.42 billion, a PE ratio of 33.01 and a beta of 1.51. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.78 and a quick ratio of 0.97.
Advanced Drainage Systems (NYSE:WMS - Get Rating) last posted its earnings results on Thursday, August 4th. The construction company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $1.22. The business had revenue of $914.20 million for the quarter, compared to analysts' expectations of $849.39 million. Advanced Drainage Systems had a net margin of 12.65% and a return on equity of 47.99%. The business's revenue for the quarter was up 36.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 EPS. On average, equities analysts predict that Advanced Drainage Systems will post 6.25 EPS for the current fiscal year.
Advanced Drainage Systems Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.32%. The ex-dividend date is Wednesday, August 31st. Advanced Drainage Systems's dividend payout ratio is currently 10.67%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Advanced Drainage Systems from $135.00 to $164.00 and gave the stock an "overweight" rating in a research note on Friday, August 5th. Robert W. Baird increased their price objective on shares of Advanced Drainage Systems from $119.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, August 5th. TheStreet cut shares of Advanced Drainage Systems from a "b" rating to a "c+" rating in a report on Thursday, May 19th. Loop Capital dropped their price target on shares of Advanced Drainage Systems from $158.00 to $124.00 and set a "buy" rating on the stock in a research report on Friday, July 8th. Finally, Morgan Stanley reduced their target price on shares of Advanced Drainage Systems from $142.00 to $120.00 and set an "overweight" rating for the company in a research note on Tuesday, June 28th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $144.50.
Insider Buying and Selling at Advanced Drainage Systems
In other Advanced Drainage Systems news, EVP Darin S. Harvey sold 20,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $112.55, for a total transaction of $2,251,000.00. Following the transaction, the executive vice president now owns 4,600 shares of the company's stock, valued at $517,730. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Darin S. Harvey sold 20,000 shares of Advanced Drainage Systems stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $112.55, for a total transaction of $2,251,000.00. Following the sale, the executive vice president now owns 4,600 shares in the company, valued at $517,730. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Kevin C. Talley sold 26,500 shares of Advanced Drainage Systems stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $90.54, for a total transaction of $2,399,310.00. Following the sale, the chief accounting officer now owns 62,025 shares in the company, valued at approximately $5,615,743.50. The disclosure for this sale can be found here. Insiders have sold 392,132 shares of company stock valued at $44,213,510 over the last 90 days. 9.33% of the stock is currently owned by corporate insiders.
