Advanced Drainage Systems (NYSE:WMS) Hits New 1-Year Low - Here's Why

Advanced Drainage Systems, Inc. (NYSE:WMS - Get Free Report) shares hit a new 52-week low during trading on Thursday . The company traded as low as $101.59 and last traded at $102.14, with a volume of 197707 shares trading hands. The stock had previously closed at $109.99.

Analyst Ratings Changes

Several brokerages have commented on WMS. KeyCorp lowered their target price on shares of Advanced Drainage Systems from $180.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday. UBS Group raised shares of Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price objective on the stock in a research report on Wednesday, January 8th. StockNews.com lowered shares of Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft initiated coverage on Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 target price on the stock. Finally, Barclays cut their price target on Advanced Drainage Systems from $149.00 to $130.00 and set an "overweight" rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, Advanced Drainage Systems has a consensus rating of "Moderate Buy" and a consensus price target of $153.78.

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Advanced Drainage Systems Price Performance

The company has a current ratio of 3.21, a quick ratio of 1.98 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $7.51 billion, a PE ratio of 16.18, a P/E/G ratio of 1.13 and a beta of 1.48. The firm's fifty day moving average price is $114.53 and its 200 day moving average price is $128.31.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last issued its earnings results on Thursday, February 6th. The construction company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 35.79% and a net margin of 15.90%. As a group, equities analysts forecast that Advanced Drainage Systems, Inc. will post 6.1 earnings per share for the current year.

Advanced Drainage Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.16 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.64 annualized dividend and a dividend yield of 0.66%. Advanced Drainage Systems's dividend payout ratio is currently 10.70%.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of hedge funds have recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. bought a new position in shares of Advanced Drainage Systems in the fourth quarter worth about $74,000. UMB Bank n.a. grew its stake in shares of Advanced Drainage Systems by 12.7% in the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company's stock worth $90,000 after acquiring an additional 88 shares during the last quarter. Spire Wealth Management acquired a new position in Advanced Drainage Systems during the 4th quarter valued at $94,000. First Horizon Advisors Inc. increased its holdings in shares of Advanced Drainage Systems by 18.3% during the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company's stock worth $102,000 after purchasing an additional 137 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Advanced Drainage Systems by 12.0% in the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company's stock valued at $116,000 after buying an additional 108 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 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.