Advanced Drainage Systems, Inc. (NYSE:WMS) Sees Significant Drop in Short Interest
by Tristan Rich · The Markets DailyAdvanced Drainage Systems, Inc. (NYSE:WMS – Get Free Report) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 2,578,716 shares, a decrease of 22.0% from the January 29th total of 3,307,921 shares. Based on an average trading volume of 982,347 shares, the short-interest ratio is currently 2.6 days. Currently, 3.4% of the company’s stock are sold short. Currently, 3.4% of the company’s stock are sold short. Based on an average trading volume of 982,347 shares, the short-interest ratio is currently 2.6 days.
Advanced Drainage Systems Stock Down 0.6%
Advanced Drainage Systems stock traded down $0.91 during mid-day trading on Wednesday, reaching $161.30. The stock had a trading volume of 455,247 shares, compared to its average volume of 749,308. Advanced Drainage Systems has a one year low of $93.92 and a one year high of $179.32. The company has a 50-day moving average price of $160.10 and a two-hundred day moving average price of $149.72. The company has a market capitalization of $12.57 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 1.91 and a beta of 1.27. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.12 and a quick ratio of 3.08.
Advanced Drainage Systems (NYSE:WMS – Get Free Report) last issued its earnings results on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.16. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. The business had revenue of $693.35 million during the quarter, compared to analysts’ expectations of $686.37 million. During the same period in the previous year, the company earned $1.09 earnings per share. The business’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts expect that Advanced Drainage Systems will post 6.1 EPS for the current fiscal year.
Advanced Drainage Systems Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, March 2nd. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 11.98%.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Royal Bank Of Canada lifted their price target on Advanced Drainage Systems from $176.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Wednesday, January 21st. UBS Group set a $215.00 target price on shares of Advanced Drainage Systems and gave the stock a “buy” rating in a research report on Friday, February 6th. Barclays increased their price target on shares of Advanced Drainage Systems from $187.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Finally, Oppenheimer boosted their price objective on shares of Advanced Drainage Systems from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, February 9th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Advanced Drainage Systems has an average rating of “Moderate Buy” and a consensus target price of $186.00.
Check Out Our Latest Stock Analysis on Advanced Drainage Systems
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of WMS. Mather Group LLC. purchased a new stake in shares of Advanced Drainage Systems during the third quarter valued at $28,000. Northwestern Mutual Wealth Management Co. lifted its stake in Advanced Drainage Systems by 352.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after acquiring an additional 176 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Advanced Drainage Systems during the 3rd quarter valued at about $33,000. Cullen Frost Bankers Inc. grew its stake in shares of Advanced Drainage Systems by 1,242.1% in the third quarter. Cullen Frost Bankers Inc. now owns 255 shares of the construction company’s stock worth $35,000 after acquiring an additional 236 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Advanced Drainage Systems during the third quarter valued at approximately $36,000. 89.83% of the stock is owned by institutional investors.
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.