Advanced Drainage Systems (NYSE:WMS) Reaches New 12-Month Low – Here’s What Happened

Shares of Advanced Drainage Systems, Inc. (NYSE:WMS) hit a new 52-week low on Friday . The stock traded as low as $112.01 and last traded at $113.38, with a volume of 50463 shares changing hands. The stock had previously closed at $115.02.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Oppenheimer reduced their target price on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Loop Capital lowered their price objective on shares of Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, November 11th. UBS Group upgraded Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Wednesday. Barclays reduced their target price on shares of Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $135.00 price target (down previously from $170.00) on shares of Advanced Drainage Systems in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $168.38.

Advanced Drainage Systems Price Performance

The company’s 50 day simple moving average is $127.38 and its 200 day simple moving average is $145.71. The company has a debt-to-equity ratio of 0.97, a current ratio of 3.19 and a quick ratio of 2.15. The company has a market capitalization of $8.75 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.22 and a beta of 1.51.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). The firm had revenue of $782.60 million for the quarter, compared to analysts’ expectations of $819.41 million. Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.71 EPS. As a group, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current year.

Advanced Drainage Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.16 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 0.57%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 10.19%.

Institutional Trading of Advanced Drainage Systems

A number of institutional investors have recently modified their holdings of WMS. CIBC Asset Management Inc increased its holdings in Advanced Drainage Systems by 3.6% in the third quarter. CIBC Asset Management Inc now owns 2,271 shares of the construction company’s stock valued at $357,000 after buying an additional 79 shares in the last quarter. CWM LLC increased its position in shares of Advanced Drainage Systems by 18.1% in the third quarter. CWM LLC now owns 555 shares of the construction company’s stock valued at $87,000 after buying an additional 85 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its stake in shares of Advanced Drainage Systems by 4.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,411 shares of the construction company’s stock worth $379,000 after buying an additional 111 shares during the last quarter. UMB Bank n.a. grew its stake in Advanced Drainage Systems by 20.5% in the 3rd quarter. UMB Bank n.a. now owns 693 shares of the construction company’s stock valued at $109,000 after acquiring an additional 118 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in Advanced Drainage Systems by 8.8% during the third quarter. QRG Capital Management Inc. now owns 1,638 shares of the construction company’s stock worth $257,000 after acquiring an additional 132 shares during the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.