KeyCorp Lowers Advanced Drainage Systems (NYSE:WMS) Price Target to $180.00

Advanced Drainage Systems (NYSE:WMS) had its price target cut by KeyCorp from $195.00 to $180.00 in a research report report published on Monday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Several other analysts also recently weighed in on WMS. Barclays lowered their price objective on Advanced Drainage Systems from $202.00 to $194.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Robert W. Baird lowered their price objective on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Oppenheimer reissued an “outperform” rating and set a $192.00 target price on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. Loop Capital reduced their target price on Advanced Drainage Systems from $188.00 to $180.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, StockNews.com cut Advanced Drainage Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $178.57.

Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $135.68 on Monday. The business has a 50 day moving average of $151.20 and a 200 day moving average of $159.57. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.15 and a beta of 1.53. Advanced Drainage Systems has a 1-year low of $112.11 and a 1-year high of $184.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. The firm had revenue of $782.60 million during the quarter, compared to the consensus estimate of $819.41 million. During the same quarter in the previous year, the firm earned $1.71 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts predict that Advanced Drainage Systems will post 6.95 earnings per share for the current fiscal year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 annualized dividend and a yield of 0.47%. Advanced Drainage Systems’s payout ratio is 10.19%.

Institutional Investors Weigh In On Advanced Drainage Systems

A number of institutional investors have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Advanced Drainage Systems by 217.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 79,646 shares of the construction company’s stock worth $12,517,000 after acquiring an additional 54,518 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Advanced Drainage Systems by 4.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 2,411 shares of the construction company’s stock worth $379,000 after acquiring an additional 111 shares during the last quarter. Mawer Investment Management Ltd. grew its stake in shares of Advanced Drainage Systems by 43.0% in the third quarter. Mawer Investment Management Ltd. now owns 67,007 shares of the construction company’s stock worth $10,531,000 after acquiring an additional 20,149 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Advanced Drainage Systems by 2.6% during the third quarter. Natixis Advisors LLC now owns 21,711 shares of the construction company’s stock valued at $3,412,000 after purchasing an additional 550 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Advanced Drainage Systems by 3.6% during 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 during the last quarter. 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.