Advanced Drainage Systems (NYSE:WMS) Earns Buy Rating from Analysts at DA Davidson

Stock analysts at DA Davidson assumed coverage on shares of Advanced Drainage Systems (NYSE:WMS) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating and a $190.00 price target on the construction company’s stock. DA Davidson’s price objective points to a potential upside of 35.37% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Barclays upped their price target on shares of Advanced Drainage Systems from $181.00 to $191.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada lifted their price objective on Advanced Drainage Systems from $170.00 to $178.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Oppenheimer cut their price objective on Advanced Drainage Systems from $195.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday, May 26th. National Bank Financial set a $190.00 target price on Advanced Drainage Systems in a report on Monday. Finally, KeyCorp restated an “overweight” rating on shares of Advanced Drainage Systems in a research report on Monday, June 22nd. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $188.70.

Advanced Drainage Systems Stock Performance

NYSE WMS opened at $140.35 on Tuesday. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 1.57 and a beta of 1.27. The stock has a 50-day moving average of $146.34 and a 200 day moving average of $147.14. The company has a current ratio of 2.12, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Advanced Drainage Systems has a twelve month low of $128.03 and a twelve month high of $179.32.

Advanced Drainage Systems (NYSE:WMS) last announced its earnings results on Thursday, August 6th. The construction company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.39. Advanced Drainage Systems had a return on equity of 28.28% and a net margin of 14.00%.The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.39 million. During the same period in the prior year, the company posted $1.95 EPS. The business’s quarterly revenue was up 20.6% on a year-over-year basis. Sell-side analysts anticipate that Advanced Drainage Systems will post 6.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its holdings in Advanced Drainage Systems by 15,172.0% in the 2nd quarter. California State Teachers Retirement System now owns 13,246,953 shares of the construction company’s stock valued at $2,079,242,000 after buying an additional 13,160,213 shares in the last quarter. Wedmont Private Capital acquired a new position in Advanced Drainage Systems in the 2nd quarter valued at about $228,000. AlphaGrep UK Ltd acquired a new position in Advanced Drainage Systems in the 2nd quarter valued at about $239,000. Raiffeisen Bank International AG grew its stake in shares of Advanced Drainage Systems by 20.0% in the 2nd quarter. Raiffeisen Bank International AG now owns 18,000 shares of the construction company’s stock valued at $2,781,000 after buying an additional 3,000 shares during the period. Finally, Rik Saylor Financial Inc. grew its stake in shares of Advanced Drainage Systems by 11.7% in the 2nd quarter. Rik Saylor Financial Inc. now owns 25,596 shares of the construction company’s stock valued at $4,017,000 after buying an additional 2,689 shares during the period. Hedge funds and other institutional investors own 89.83% of the company’s stock.

Advanced Drainage Systems Company Profile

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.