KeyCorp Issues Pessimistic Forecast for Advanced Drainage Systems (NYSE:WMS) Stock Price

Advanced Drainage Systems (NYSE:WMS - Get Free Report) had its price objective dropped by equities researchers at KeyCorp from $195.00 to $180.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. KeyCorp's target price would suggest a potential upside of 32.67% from the company's current price.

A number of other research analysts have also recently issued reports on the stock. Oppenheimer reissued an "outperform" rating and issued a $192.00 price objective on shares of Advanced Drainage Systems in a research note on Thursday, August 15th. 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 research report on Monday, August 12th. Barclays decreased their target price on Advanced Drainage Systems from $202.00 to $194.00 and set an "overweight" rating on the stock in a research report on Friday, August 9th. Robert W. Baird dropped their target price on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an "outperform" rating for the company in a report on Friday, August 9th. Finally, StockNews.com lowered 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 stock. According to data from MarketBeat.com, Advanced Drainage Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.57.

Advanced Drainage Systems Stock Performance

Shares of 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 company has a current ratio of 2.89, a quick ratio of 1.90 and a debt-to-equity ratio of 1.04. Advanced Drainage Systems has a twelve month low of $112.11 and a twelve month high of $184.27. The company has a fifty day moving average of $151.62 and a 200-day moving average of $159.75. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.15 and a beta of 1.53.

Advanced Drainage Systems (NYSE:WMS - Get Free Report) last released 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 return on equity of 43.60% and a net margin of 17.09%. The company had revenue of $782.60 million for the quarter, compared to analyst estimates of $819.41 million. During the same period last year, the company posted $1.71 earnings per share. The business's revenue for the quarter was up .3% compared to the same quarter last year. On average, research analysts predict that Advanced Drainage Systems will post 6.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Advanced Drainage Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its holdings in shares of Advanced Drainage Systems by 10.1% during the first quarter. Empowered Funds LLC now owns 7,696 shares of the construction company's stock worth $1,326,000 after purchasing an additional 707 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Advanced Drainage Systems in the first quarter valued at about $201,000. Russell Investments Group Ltd. raised its position in shares of Advanced Drainage Systems by 63.0% during the first quarter. Russell Investments Group Ltd. now owns 66,714 shares of the construction company's stock worth $11,474,000 after acquiring an additional 25,786 shares during the last quarter. US Bancorp DE lifted its stake in shares of Advanced Drainage Systems by 11.8% in the first quarter. US Bancorp DE now owns 2,475 shares of the construction company's stock worth $426,000 after acquiring an additional 262 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Advanced Drainage Systems in the first quarter worth approximately $346,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

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.