Oppenheimer Lowers Advanced Drainage Systems (NYSE:WMS) Price Target to $184.00

Advanced Drainage Systems (NYSE:WMS - Free Report) had its price target reduced by Oppenheimer from $192.00 to $184.00 in a research note published on Monday,Benzinga reports. Oppenheimer currently has an outperform rating on the construction company's stock.

A number of other brokerages have also recently issued reports on WMS. KeyCorp dropped their price objective on Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating on the stock in a report on Monday. Loop Capital lowered their price target on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a "buy" rating on the stock in a report on Monday, August 12th. Robert W. Baird reduced their price objective on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Barclays decreased their target price on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. Finally, StockNews.com downgraded shares of Advanced Drainage Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 17th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $178.57.

Advanced Drainage Systems Stock Performance

NYSE:WMS traded down $0.48 on Monday, reaching $135.68. 1,376,273 shares of the company's stock were exchanged, compared to its average volume of 497,456. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 21.77, a P/E/G ratio of 1.15 and a beta of 1.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The stock has a fifty day simple moving average of $151.62 and a 200-day simple moving average of $159.75. Advanced Drainage Systems has a 52 week low of $112.11 and a 52 week high of $184.27.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The construction company reported $1.70 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.23). Advanced Drainage Systems had a return on equity of 43.60% and a net margin of 17.09%. The business had revenue of $782.60 million during the quarter, compared to the consensus estimate of $819.41 million. During the same period last year, the business posted $1.71 earnings per share. The firm's quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts predict that Advanced Drainage Systems will post 6.95 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 0.47%. Advanced Drainage Systems's dividend payout ratio is presently 10.19%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Advanced Drainage Systems by 24.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 63,780 shares of the construction company's stock worth $11,006,000 after purchasing an additional 12,655 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of Advanced Drainage Systems during the first quarter worth approximately $525,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Advanced Drainage Systems by 16.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 139,677 shares of the construction company's stock worth $24,059,000 after acquiring an additional 19,626 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Advanced Drainage Systems by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 7,265,169 shares of the construction company's stock valued at $1,251,353,000 after purchasing an additional 395,099 shares in the last quarter. Finally, Castleark Management LLC purchased a new stake in shares of Advanced Drainage Systems in the 1st quarter valued at $580,000. Institutional investors own 89.83% of the company's stock.

About Advanced Drainage Systems

Advanced Drainage Systems, Inc designs, manufactures, and markets thermoplastic corrugated pipes and related water management products in North America and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments. It offers single, double, and triple wall corrugated polypropylene and polyethylene pipes; plastic leachfield chambers and systems; EZflow synthetic aggregate bundles; wastewater purification through mechanical aeration wastewater for residential and commercial systems; septic tanks and accessories; combined treatment and dispersal systems, including advanced enviro-septic and advanced treatment leachfield systems; and allied products, including storm retention/detention and septic chambers, polyvinyl chloride drainage structures, fittings, and water quality filters and separators.