Advanced Drainage Systems (NYSE:WMS) Announces Earnings Results, Beats Expectations By $0.10 EPS

Advanced Drainage Systems (NYSE:WMS) posted its quarterly earnings results on Thursday. The construction company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.97 by $0.10, FiscalAI reports. The firm had revenue of $676.76 million for the quarter, compared to analyst estimates of $651.92 million. Advanced Drainage Systems had a net margin of 15.75% and a return on equity of 27.72%. Advanced Drainage Systems’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share.

Advanced Drainage Systems Stock Up 0.1%

Shares of WMS stock traded up $0.16 on Thursday, hitting $136.99. The stock had a trading volume of 150,772 shares, compared to its average volume of 821,786. The stock’s 50 day moving average is $142.80 and its 200-day moving average is $150.22. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 22.71, a P/E/G ratio of 1.38 and a beta of 1.33. Advanced Drainage Systems has a 52-week low of $105.14 and a 52-week high of $179.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 3.08 and a current ratio of 4.12.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of institutional investors have recently added to or reduced their stakes in WMS. Wellington Management Group LLP lifted its holdings in Advanced Drainage Systems by 234.0% in the third quarter. Wellington Management Group LLP now owns 1,188,906 shares of the construction company’s stock worth $164,901,000 after acquiring an additional 832,929 shares during the last quarter. Amundi grew its holdings in shares of Advanced Drainage Systems by 80.9% during the fourth quarter. Amundi now owns 1,279,576 shares of the construction company’s stock valued at $185,324,000 after purchasing an additional 572,193 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Advanced Drainage Systems by 875.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 458,910 shares of the construction company’s stock worth $66,464,000 after purchasing an additional 411,883 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Advanced Drainage Systems by 586.9% in the 3rd quarter. Franklin Resources Inc. now owns 285,810 shares of the construction company’s stock worth $39,642,000 after purchasing an additional 244,202 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Advanced Drainage Systems by 1,209.7% in the 2nd quarter. Squarepoint Ops LLC now owns 260,607 shares of the construction company’s stock worth $29,933,000 after purchasing an additional 240,709 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WMS. Robert W. Baird set a $205.00 price objective on shares of Advanced Drainage Systems in a research report on Friday, February 6th. Oppenheimer reaffirmed an “outperform” rating and set a $195.00 price target (down from $200.00) on shares of Advanced Drainage Systems in a research report on Friday, April 17th. UBS Group set a $215.00 price target on Advanced Drainage Systems and gave the company a “buy” rating in a report on Friday, February 6th. Royal Bank Of Canada boosted their price objective on Advanced Drainage Systems from $176.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Advanced Drainage Systems in a research report on Monday, April 20th. Five 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 a consensus rating of “Moderate Buy” and a consensus target price of $199.83.

About Advanced Drainage Systems

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.