Advanced Drainage Systems (NYSE:WMS) Stock Price Down 8.5% - Here's Why

Advanced Drainage Systems, Inc. (NYSE:WMS - Get Free Report) shares fell 8.5% on Friday . The stock traded as low as $141.74 and last traded at $145.44. 134,266 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 483,529 shares. The stock had previously closed at $159.00.

Wall Street Analysts Forecast Growth

WMS has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. StockNews.com downgraded Advanced Drainage Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 17th. Loop Capital dropped their price objective on Advanced Drainage Systems from $188.00 to $180.00 and set a "buy" rating for the company in a report on Monday, August 12th. Robert W. Baird reduced their target price on Advanced Drainage Systems from $200.00 to $187.00 and set an "outperform" rating on the stock in a research note on Friday, August 9th. Finally, Oppenheimer reiterated an "outperform" rating and set a $192.00 target price on shares of Advanced Drainage Systems in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Advanced Drainage Systems has an average rating of "Moderate Buy" and an average price target of $190.14.

Advanced Drainage Systems Stock Down 14.4 %

The business's fifty day moving average price is $151.62 and its two-hundred day moving average price is $159.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.90 and a current ratio of 2.89. The firm has a market capitalization of $10.56 billion, a P/E ratio of 21.54, a PEG ratio of 1.38 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last announced its earnings results on Friday, November 8th. The construction company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($0.23). Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The business had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. During the same period in the prior year, the company earned $1.71 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. Equities analysts expect that Advanced Drainage Systems, Inc. will post 6.95 earnings per share for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. Advanced Drainage Systems's payout ratio is 10.13%.

Institutional Trading of Advanced Drainage Systems

Several large investors have recently made changes to their positions in WMS. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Advanced Drainage Systems by 319.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company's stock worth $26,000 after purchasing an additional 115 shares in the last quarter. West Oak Capital LLC grew its stake in Advanced Drainage Systems by 133.3% in the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company's stock valued at $28,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. increased its holdings in Advanced Drainage Systems by 1,472.7% in the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company's stock worth $30,000 after acquiring an additional 162 shares in the last quarter. National Bank of Canada FI acquired a new position in Advanced Drainage Systems during the second quarter worth $45,000. Finally, Huntington National Bank lifted its holdings in Advanced Drainage Systems by 123.1% during the third quarter. Huntington National Bank now owns 386 shares of the construction company's stock valued at $61,000 after purchasing an additional 213 shares in the last quarter. 89.83% of the stock is owned by hedge funds and other institutional investors.

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.