Advanced Drainage Systems (NYSE:WMS) Shares Gap Up to $176.18

Advanced Drainage Systems, Inc. (NYSE:WMS) gapped up prior to trading on Thursday . The stock had previously closed at $176.18, but opened at $180.64. Advanced Drainage Systems shares last traded at $171.83, with a volume of 246,612 shares changing hands.

Wall Street Analyst Weigh In

WMS has been the topic of several research reports. Northcoast Research initiated coverage on Advanced Drainage Systems in a report on Wednesday, May 8th. They issued a “buy” rating and a $190.00 price target on the stock. KeyCorp upped their price target on Advanced Drainage Systems from $160.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, February 9th. StockNews.com raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Oppenheimer lifted their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, Stephens lifted their price objective on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $162.56.

Advanced Drainage Systems Stock Performance

The firm’s fifty day moving average price is $165.69 and its 200 day moving average price is $145.62. The company has a current ratio of 3.03, a quick ratio of 2.04 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $13.35 billion, a PE ratio of 28.01, a PEG ratio of 1.50 and a beta of 1.51.

Insider Activity

In other news, EVP Michael G. Huebert sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the transaction, the executive vice president now directly owns 13,450 shares in the company, valued at approximately $2,199,344. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Michael G. Huebert sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $163.52, for a total value of $1,635,200.00. Following the completion of the sale, the executive vice president now directly owns 13,450 shares in the company, valued at $2,199,344. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ross M. Jones sold 762,895 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $163.00, for a total transaction of $124,351,885.00. Following the completion of the sale, the director now owns 70,749 shares of the company’s stock, valued at $11,532,087. The disclosure for this sale can be found here. 3.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bayesian Capital Management LP acquired a new position in shares of Advanced Drainage Systems during the first quarter valued at about $861,000. Blue Edge Capital LLC acquired a new position in shares of Advanced Drainage Systems during the first quarter valued at about $691,000. Price T Rowe Associates Inc. MD increased its stake in Advanced Drainage Systems by 16.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company’s stock valued at $24,059,000 after acquiring an additional 19,626 shares during the period. Magnetar Financial LLC bought a new stake in Advanced Drainage Systems in the first quarter valued at about $525,000. Finally, Lazard Asset Management LLC increased its stake in Advanced Drainage Systems by 117.5% in the first quarter. Lazard Asset Management LLC now owns 12,032 shares of the construction company’s stock valued at $2,071,000 after acquiring an additional 6,500 shares during the period. Institutional investors and hedge funds own 89.83% of the company’s stock.

Advanced Drainage Systems Company Profile

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.