Advanced Drainage Systems Inc. (NYSE:WMS) had its price objective dropped by Royal Bank Of Canada from $29.00 to $26.00 in a research note issued on Friday. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 20.48% from the stock’s current price.

WMS has been the topic of several other research reports. Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Boenning Scattergood lowered Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $28.33.

Advanced Drainage Systems (NYSE:WMS) opened at 21.58 on Friday. The company has a market capitalization of $1.59 billion, a PE ratio of 79.93 and a beta of 0.85. The company has a 50-day moving average price of $23.75 and a 200 day moving average price of $24.62. Advanced Drainage Systems has a 12 month low of $17.72 and a 12 month high of $32.50.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, October 6th. The company reported $0.37 earnings per share for the quarter. The firm had revenue of $358 million for the quarter. Advanced Drainage Systems had a return on equity of 120.26% and a net margin of 1.60%. On average, equities research analysts forecast that Advanced Drainage Systems will post $1.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Tuesday, August 30th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pictet Asset Management Ltd. acquired a new position in Advanced Drainage Systems during the second quarter worth $26,888,000. Impax Asset Management LTD raised its position in Advanced Drainage Systems by 76.9% in the second quarter. Impax Asset Management LTD now owns 1,062,967 shares of the company’s stock worth $29,093,000 after buying an additional 462,091 shares during the last quarter. Kalmar Investments Inc. DE acquired a new position in Advanced Drainage Systems during the second quarter worth $11,709,000. Schroder Investment Management Group acquired a new position in Advanced Drainage Systems during the second quarter worth $11,386,000. Finally, JPMorgan Chase & Co. raised its position in Advanced Drainage Systems by 78.8% in the second quarter. JPMorgan Chase & Co. now owns 890,454 shares of the company’s stock worth $24,372,000 after buying an additional 392,451 shares during the last quarter. 70.62% 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 pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products.

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