RBC Capital Markets Reiterates “Outperform” Rating for Advanced Drainage Systems Inc. (WMS)
Advanced Drainage Systems Inc. (NYSE:WMS)‘s stock had its “outperform” rating reaffirmed by investment analysts at RBC Capital Markets in a research note issued on Saturday. They currently have a $26.00 target price on the stock, down from their previous target price of $29.00. RBC Capital Markets’ price objective points to a potential upside of 17.33% from the stock’s current price.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut Advanced Drainage Systems from a “hold” rating to a “sell” rating in a report on Thursday, August 11th. Boenning Scattergood cut Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a report on Thursday, August 11th. Royal Bank Of Canada lowered their price target on Advanced Drainage Systems from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday. Finally, TheStreet raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $27.75.
Advanced Drainage Systems (NYSE:WMS) opened at 22.16 on Friday. The stock has a market capitalization of $1.64 billion, a PE ratio of 82.07 and a beta of 0.85. Advanced Drainage Systems has a 12-month low of $17.72 and a 12-month high of $32.40. The stock has a 50 day moving average price of $23.67 and a 200-day moving average price of $24.62.
Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, October 6th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.13. 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 analysts anticipate that Advanced Drainage Systems will post $1.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 1.08%.
A number of institutional investors have recently made changes to their positions in WMS. Teacher Retirement System of Texas boosted its position in shares of Advanced Drainage Systems by 32.2% in the second quarter. Teacher Retirement System of Texas now owns 5,636 shares of the company’s stock worth $154,000 after buying an additional 1,372 shares in the last quarter. Pitcairn Co. acquired a new stake in Advanced Drainage Systems during the second quarter worth approximately $224,000. Dynamic Technology Lab Private Ltd acquired a new stake in Advanced Drainage Systems during the second quarter worth approximately $287,000. Springbok Capital Management LLC acquired a new stake in Advanced Drainage Systems during the first quarter worth approximately $245,000. Finally, BlackRock Inc. boosted its stake in Advanced Drainage Systems by 11.3% in the first quarter. BlackRock Inc. now owns 14,542 shares of the company’s stock worth $309,000 after buying an additional 1,477 shares in the last quarter. 70.62% of the stock is currently owned by institutional investors.
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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