Advanced Drainage Systems (NYSE:WMS) Reaches New 52-Week High – Here’s Why

Advanced Drainage Systems, Inc. (NYSE:WMS)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $179.32 and last traded at $174.52, with a volume of 59916 shares. The stock had previously closed at $175.07.

Analyst Ratings Changes

WMS has been the topic of a number of analyst reports. Barclays boosted their price target on Advanced Drainage Systems from $187.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. KeyCorp raised their price target on Advanced Drainage Systems from $180.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Royal Bank Of Canada upped their price target on shares of Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Weiss Ratings restated a “hold (c)” rating on shares of Advanced Drainage Systems in a research note on Wednesday, January 21st. Finally, UBS Group set a $215.00 target price on shares of Advanced Drainage Systems and gave the stock a “buy” rating in a research note on Friday, February 6th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $186.00.

Advanced Drainage Systems Stock Down 2.8%

The company has a quick ratio of 3.08, a current ratio of 4.12 and a debt-to-equity ratio of 0.72. The company has a market cap of $13.11 billion, a PE ratio of 28.03, a PEG ratio of 2.04 and a beta of 1.34. The company’s fifty day moving average is $154.24 and its 200-day moving average is $145.30.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results on Thursday, February 5th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.16. Advanced Drainage Systems had a return on equity of 27.72% and a net margin of 15.75%.The firm had revenue of $693.35 million for the quarter, compared to the consensus estimate of $686.37 million. During the same period last year, the business posted $1.09 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. On average, analysts predict that Advanced Drainage Systems, Inc. will post 6.1 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, March 2nd. Advanced Drainage Systems’s payout ratio is currently 11.98%.

Insider Activity

In related news, Director Robert M. Eversole sold 10,569 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $152.82, for a total transaction of $1,615,154.58. Following the completion of the sale, the director directly owned 50,076 shares in the company, valued at approximately $7,652,614.32. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.63% of the company’s stock.

Institutional Investors Weigh In On Advanced Drainage Systems

Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its position in Advanced Drainage Systems by 352.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 226 shares of the construction company’s stock valued at $26,000 after purchasing an additional 176 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Advanced Drainage Systems during the 3rd quarter valued at about $28,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Advanced Drainage Systems during the 3rd quarter valued at approximately $33,000. Cullen Frost Bankers Inc. increased its holdings in Advanced Drainage Systems by 1,242.1% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 255 shares of the construction company’s stock worth $35,000 after acquiring an additional 236 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Advanced Drainage Systems in the 3rd quarter worth approximately $36,000. 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.