Advanced Drainage Systems Inc. (NYSE:WMS)‘s stock had its “outperform” rating reiterated by investment analysts at RBC Capital Markets in a report released on Saturday. They currently have a $26.00 price objective on the stock, down from their prior price objective of $29.00. RBC Capital Markets’ price target indicates a potential upside of 17.33% from the stock’s current price.
WMS has been the topic of several other reports. Zacks Investment Research raised Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Boenning Scattergood cut Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 11th. Royal Bank Of Canada lowered their price objective on Advanced Drainage Systems from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, TheStreet raised Advanced Drainage Systems from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $27.75.
Advanced Drainage Systems (NYSE:WMS) opened at 22.16 on Friday. The stock has a 50 day moving average price of $23.67 and a 200 day moving average price of $24.62. Advanced Drainage Systems has a 12 month low of $17.72 and a 12 month high of $32.40. The stock has a market capitalization of $1.64 billion, a PE ratio of 82.07 and a beta of 0.85.
Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings data on Thursday, October 6th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.13. The business had revenue of $358 million for the quarter. Advanced Drainage Systems had a return on equity of 120.26% and a net margin of 1.60%. On average, equities research analysts forecast that Advanced Drainage Systems will post $1.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 1.08%.
Institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Ltd. purchased a new position in Advanced Drainage Systems during the second quarter valued at $26,888,000. Impax Asset Management LTD boosted its position in Advanced Drainage Systems by 76.9% in the second quarter. Impax Asset Management LTD now owns 1,062,967 shares of the company’s stock valued at $29,093,000 after buying an additional 462,091 shares during the last quarter. Kalmar Investments Inc. DE purchased a new position in Advanced Drainage Systems during the second quarter valued at $11,709,000. Schroder Investment Management Group purchased a new position in Advanced Drainage Systems during the second quarter valued at $11,386,000. Finally, JPMorgan Chase & Co. boosted its position in Advanced Drainage Systems by 78.8% in the second quarter. JPMorgan Chase & Co. now owns 890,454 shares of the company’s stock valued at $24,372,000 after buying an additional 392,451 shares during the last quarter. 70.62% of the stock is currently owned by hedge funds and other institutional investors.
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