Advanced Drainage Systems (NYSE:WMS) Receives New Coverage from Analysts at Bank of America

Analysts at Bank of America initiated coverage on shares of Advanced Drainage Systems (NYSE:WMS) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set a “buy” rating on the construction company’s stock.

Several other equities analysts have also commented on WMS. Barclays raised their target price on shares of Advanced Drainage Systems from $29.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, August 6th. ValuEngine downgraded shares of Advanced Drainage Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Zacks Investment Research reiterated a “hold” rating and set a $38.00 price target on shares of Advanced Drainage Systems in a research report on Saturday, October 12th. Finally, Robert W. Baird set a $68.00 price objective on shares of Advanced Drainage Systems and gave the company a “hold” rating in a research note on Friday, October 18th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $42.00.

WMS opened at $37.78 on Tuesday. The firm has a market cap of $2.61 billion, a P/E ratio of 30.97 and a beta of 0.92. Advanced Drainage Systems has a 52-week low of $23.04 and a 52-week high of $39.69. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.31 and a current ratio of 2.34. The business’s fifty day moving average is $36.99 and its 200-day moving average is $33.14.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, November 7th. The construction company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.41). Advanced Drainage Systems had a negative net margin of 13.50% and a positive return on equity of 18.28%. The company had revenue of $495.90 million during the quarter, compared to analyst estimates of $473.84 million. During the same period last year, the firm earned $0.45 EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, research analysts predict that Advanced Drainage Systems will post -2.96 earnings per share for the current fiscal year.

In other Advanced Drainage Systems news, Director Alexander R. Fischer sold 10,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $36.68, for a total transaction of $366,800.00. Following the completion of the transaction, the director now owns 29,709 shares of the company’s stock, valued at $1,089,726.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Ewout Leeuwenburg sold 5,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $36.88, for a total value of $184,400.00. Following the transaction, the senior vice president now directly owns 59,210 shares of the company’s stock, valued at approximately $2,183,664.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 2,462,193 shares of company stock valued at $73,912,528 and have sold 1,057,000 shares valued at $39,528,500. 20.84% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Advanced Drainage Systems by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,733,836 shares of the construction company’s stock valued at $122,432,000 after purchasing an additional 28,682 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Advanced Drainage Systems by 0.3% during the second quarter. JPMorgan Chase & Co. now owns 1,888,536 shares of the construction company’s stock worth $60,943,000 after buying an additional 5,771 shares during the last quarter. Pictet Asset Management Ltd. grew its stake in shares of Advanced Drainage Systems by 25.4% during the third quarter. Pictet Asset Management Ltd. now owns 1,543,761 shares of the construction company’s stock worth $49,817,000 after buying an additional 312,472 shares during the last quarter. MIG Capital LLC grew its stake in shares of Advanced Drainage Systems by 75.7% during the second quarter. MIG Capital LLC now owns 1,000,180 shares of the construction company’s stock worth $32,796,000 after buying an additional 430,987 shares during the last quarter. Finally, Beck Mack & Oliver LLC increased its holdings in shares of Advanced Drainage Systems by 29.2% during the third quarter. Beck Mack & Oliver LLC now owns 963,942 shares of the construction company’s stock worth $31,106,000 after buying an additional 218,000 shares in the last quarter. 81.21% of the stock is owned by hedge funds and other institutional investors.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in the United States and internationally. The company offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.

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