Advanced Drainage Systems (NYSE:WMS) Reaches New 12-Month High – What’s Next?
by Renee Jackson · The Cerbat GemAdvanced Drainage Systems, Inc. (NYSE:WMS – Get Free Report)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $161.19 and last traded at $158.23, with a volume of 210777 shares trading hands. The stock had previously closed at $156.30.
Wall Street Analyst Weigh In
WMS has been the topic of a number of research analyst reports. KeyCorp upped their target price on Advanced Drainage Systems from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Wednesday, January 21st. Oppenheimer lifted their price target on Advanced Drainage Systems from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, January 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $176.00 target price on shares of Advanced Drainage Systems in a research note on Thursday, January 15th. Finally, Barclays increased their price target on shares of Advanced Drainage Systems from $181.00 to $187.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $165.33.
Get Our Latest Report on Advanced Drainage Systems
Advanced Drainage Systems Trading Down 0.5%
The stock has a 50-day moving average of $151.58 and a two-hundred day moving average of $142.68. The company has a market cap of $12.09 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.60 and a current ratio of 3.48.
Advanced Drainage Systems (NYSE:WMS – Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The construction company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.27. The company had revenue of $850.38 million for the quarter, compared to analysts’ expectations of $802.49 million. Advanced Drainage Systems had a net margin of 15.35% and a return on equity of 28.85%. Advanced Drainage Systems’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.70 EPS. On average, equities research analysts predict that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.
Advanced Drainage Systems Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.18 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.5%. Advanced Drainage Systems’s payout ratio is currently 12.29%.
Insider Activity at Advanced Drainage Systems
In other Advanced Drainage Systems news, Director Robert M. Eversole sold 10,569 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total transaction of $1,615,154.58. Following the completion of the sale, the director directly owned 50,076 shares in the company, valued at approximately $7,652,614.32. The trade was a 17.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tim A. Makowski sold 4,901 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $149.21, for a total transaction of $731,278.21. Following the sale, the insider owned 2,467 shares of the company’s stock, valued at $368,101.07. This trade represents a 66.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 97,772 shares of company stock worth $14,605,539. Company insiders own 1.63% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of WMS. Bridges Investment Management Inc. boosted its stake in shares of Advanced Drainage Systems by 32.9% during the third quarter. Bridges Investment Management Inc. now owns 28,122 shares of the construction company’s stock valued at $3,901,000 after purchasing an additional 6,960 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Advanced Drainage Systems by 134.8% in the second quarter. Valeo Financial Advisors LLC now owns 5,275 shares of the construction company’s stock worth $606,000 after purchasing an additional 3,028 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Advanced Drainage Systems in the third quarter worth $24,314,000. Pacer Advisors Inc. acquired a new position in Advanced Drainage Systems in the third quarter valued at approximately $1,321,000. Finally, Asset Management One Co. Ltd. boosted its holdings in Advanced Drainage Systems by 29.7% during the third quarter. Asset Management One Co. Ltd. now owns 19,982 shares of the construction company’s stock worth $2,772,000 after buying an additional 4,574 shares in the last quarter. Institutional investors own 89.83% of the company’s stock.
About Advanced Drainage Systems
Advanced Drainage Systems, Inc (NYSE: WMS) is a leading manufacturer and supplier of water management solutions in North America. Headquartered in Hilliard, Ohio, the company specializes in the design, production and distribution of high-density polyethylene (HDPE) drainage pipe and related products. Its core business addresses stormwater management, on-site septic systems and erosion control for residential, commercial and infrastructure projects.
The company’s product portfolio includes corrugated plastic pipe, tubing, fittings, geocells, geogrids and stormwater structures such as inlets, manholes and detention/retention systems.