Advanced Drainage Systems (NYSE:WMS) Reaches New 1-Year Low - What's Next?

Shares of Advanced Drainage Systems, Inc. (NYSE:WMS - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $113.10 and last traded at $114.11, with a volume of 37035 shares. The stock had previously closed at $115.58.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WMS shares. KeyCorp cut their price target on Advanced Drainage Systems from $195.00 to $180.00 and set an "overweight" rating on the stock in a report on Monday, November 11th. Robert W. Baird cut their target price on shares of Advanced Drainage Systems from $174.00 to $161.00 and set an "outperform" rating on the stock in a research note on Monday, November 11th. Stephens reaffirmed an "equal weight" rating and issued a $135.00 price target (down from $170.00) on shares of Advanced Drainage Systems in a research note on Wednesday, November 13th. Oppenheimer cut their price objective on shares of Advanced Drainage Systems from $192.00 to $184.00 and set an "outperform" rating on the stock in a research report on Monday, November 11th. Finally, Loop Capital decreased their target price on Advanced Drainage Systems from $180.00 to $170.00 and set a "buy" rating for the company in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $170.29.

Advanced Drainage Systems Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.15 and a current ratio of 3.19. The firm has a market capitalization of $8.90 billion, a P/E ratio of 18.29, a PEG ratio of 1.22 and a beta of 1.48. The firm has a 50 day simple moving average of $134.66 and a two-hundred day simple moving average of $149.48.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last posted 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). The firm had revenue of $782.60 million during the quarter, compared to analysts' expectations of $819.41 million. Advanced Drainage Systems had a net margin of 16.89% and a return on equity of 40.31%. Advanced Drainage Systems's revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.71 EPS. Equities research analysts forecast that Advanced Drainage Systems, Inc. will post 6.12 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Monday, December 2nd. Advanced Drainage Systems's dividend payout ratio (DPR) is presently 10.19%.

Hedge Funds Weigh In On Advanced Drainage Systems

Large investors have recently modified their holdings of the business. State Street Corp boosted its holdings in Advanced Drainage Systems by 8.8% in the 3rd quarter. State Street Corp now owns 2,541,688 shares of the construction company's stock worth $399,452,000 after buying an additional 206,105 shares during the period. Millennium Management LLC boosted its holdings in shares of Advanced Drainage Systems by 136.2% in the second quarter. Millennium Management LLC now owns 312,393 shares of the construction company's stock worth $50,105,000 after acquiring an additional 180,154 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Advanced Drainage Systems in the second quarter worth $21,657,000. Fernbridge Capital Management LP grew its position in shares of Advanced Drainage Systems by 108.2% in the third quarter. Fernbridge Capital Management LP now owns 253,549 shares of the construction company's stock valued at $39,848,000 after purchasing an additional 131,781 shares in the last quarter. Finally, abrdn plc raised its stake in shares of Advanced Drainage Systems by 28.5% during the 3rd quarter. abrdn plc now owns 579,485 shares of the construction company's stock valued at $91,683,000 after purchasing an additional 128,539 shares during the period. Hedge funds and other 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.