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

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays reduced their target price on Advanced Drainage Systems from $194.00 to $172.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Robert W. Baird decreased their target price on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. UBS Group upgraded shares of 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. Oppenheimer dropped their target price on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, Loop Capital decreased their price target on Advanced Drainage Systems from $180.00 to $170.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Advanced Drainage Systems currently has an average rating of “Moderate Buy” and a consensus target price of $168.38.

Advanced Drainage Systems Price Performance

The company’s 50-day simple moving average is $128.12 and its 200 day simple moving average is $146.19. The company has a market cap of $8.83 billion, a PE ratio of 18.13, a PEG ratio of 1.22 and a beta of 1.51. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19.

Advanced Drainage Systems (NYSE:WMS) last released its 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 company had revenue of $782.60 million during the quarter, compared to analysts’ expectations of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business posted $1.71 earnings per share. On average, sell-side analysts predict that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.16 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.64 annualized dividend and a yield of 0.56%. Advanced Drainage Systems’s dividend payout ratio (DPR) is 10.19%.

Institutional Investors Weigh In On Advanced Drainage Systems

Several institutional investors have recently modified their holdings of the company. National Bank of Canada FI acquired a new stake in Advanced Drainage Systems during the second quarter worth approximately $45,000. Huntington National Bank raised its stake in Advanced Drainage Systems by 123.1% during the 3rd quarter. Huntington National Bank now owns 386 shares of the construction company’s stock worth $61,000 after acquiring an additional 213 shares in the last quarter. Millburn Ridgefield Corp lifted its position in Advanced Drainage Systems by 642.4% in the third quarter. Millburn Ridgefield Corp now owns 490 shares of the construction company’s stock valued at $77,000 after acquiring an additional 424 shares during the last quarter. CWM LLC lifted its holdings in shares of Advanced Drainage Systems by 18.1% in the 3rd quarter. CWM LLC now owns 555 shares of the construction company’s stock valued at $87,000 after purchasing an additional 85 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Advanced Drainage Systems by 20.5% in the third 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 period. 89.83% of the stock is 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.