Advanced Drainage Systems (NYSE:WMS) PT Raised to $180.00

Advanced Drainage Systems (NYSE:WMS) had its price target boosted by research analysts at Oppenheimer from $172.00 to $180.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Oppenheimer’s price target would suggest a potential upside of 14.74% from the company’s current price.

WMS has been the topic of several other research reports. Stephens lifted their price target on Advanced Drainage Systems from $138.00 to $182.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. StockNews.com downgraded Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Finally, KeyCorp lifted their price target on Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $159.13.

Advanced Drainage Systems Stock Performance

Shares of Advanced Drainage Systems stock opened at $156.87 on Thursday. The company has a market capitalization of $12.18 billion, a PE ratio of 24.94, a PEG ratio of 1.41 and a beta of 1.50. Advanced Drainage Systems has a 12 month low of $80.41 and a 12 month high of $176.31. The company has a current ratio of 3.03, a quick ratio of 2.04 and a debt-to-equity ratio of 1.18. The stock’s fifty day simple moving average is $164.93 and its 200 day simple moving average is $138.47.

Advanced Drainage Systems (NYSE:WMS) last issued its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 EPS for the quarter, topping the consensus estimate of $0.93 by $0.44. The business had revenue of $662.37 million for the quarter, compared to the consensus estimate of $632.69 million. Advanced Drainage Systems had a return on equity of 49.79% and a net margin of 17.65%. The firm’s revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 EPS. On average, research analysts predict that Advanced Drainage Systems will post 6.07 EPS for the current year.

Insider Activity at Advanced Drainage Systems

In related news, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at $2,199,344. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total value of $1,635,200.00. Following the sale, the executive vice president now owns 13,450 shares of the company’s stock, valued at $2,199,344. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ross M. Jones sold 762,895 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total value of $124,351,885.00. Following the completion of the sale, the director now directly owns 70,749 shares in the company, valued at approximately $11,532,087. The disclosure for this sale can be found here. 3.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of WMS. BlackRock Inc. grew its holdings in Advanced Drainage Systems by 76.4% during the first quarter. BlackRock Inc. now owns 6,672,684 shares of the construction company’s stock worth $561,907,000 after purchasing an additional 2,890,821 shares during the period. Morgan Stanley grew its holdings in Advanced Drainage Systems by 210.6% during the fourth quarter. Morgan Stanley now owns 1,123,772 shares of the construction company’s stock worth $92,116,000 after purchasing an additional 761,995 shares during the period. State Street Corp grew its holdings in Advanced Drainage Systems by 55.8% during the first quarter. State Street Corp now owns 2,054,386 shares of the construction company’s stock worth $173,000,000 after purchasing an additional 735,476 shares during the period. Norges Bank bought a new position in Advanced Drainage Systems during the fourth quarter worth about $88,640,000. Finally, Vanguard Group Inc. grew its holdings in Advanced Drainage Systems by 11.1% during the first quarter. Vanguard Group Inc. now owns 5,287,218 shares of the construction company’s stock worth $628,174,000 after purchasing an additional 526,175 shares during the period. Institutional investors own 89.83% of the company’s stock.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.