KeyCorp Lowers Advanced Drainage Systems (NYSE:WMS) Price Target to $135.00

Advanced Drainage Systems (NYSE:WMS - Free Report) had its price target trimmed by KeyCorp from $180.00 to $135.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the construction company's stock.

Several other equities research analysts have also recently issued reports on the company. Loop Capital cut their price target on Advanced Drainage Systems from $170.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, February 7th. StockNews.com downgraded Advanced Drainage Systems from a "hold" rating to a "sell" rating in a research report on Tuesday, April 1st. Stephens restated an "equal weight" rating and issued a $135.00 price target on shares of Advanced Drainage Systems in a research report on Friday, February 7th. UBS Group raised shares of Advanced Drainage Systems from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Advanced Drainage Systems in a report on Tuesday, April 1st. They issued a "buy" rating and a $134.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Advanced Drainage Systems presently has an average rating of "Moderate Buy" and a consensus price target of $153.78.

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Advanced Drainage Systems Stock Performance

NYSE:WMS traded up $1.91 during mid-day trading on Tuesday, hitting $105.31. 678,762 shares of the stock were exchanged, compared to its average volume of 574,796. The firm's 50-day simple moving average is $112.30 and its 200 day simple moving average is $126.58. The stock has a market capitalization of $8.17 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48. Advanced Drainage Systems has a fifty-two week low of $93.92 and a fifty-two week high of $184.27. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21.

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

Advanced Drainage Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Friday, February 28th. Advanced Drainage Systems's dividend payout ratio is currently 10.70%.

Institutional Investors Weigh In On Advanced Drainage Systems

Several institutional investors have recently made changes to their positions in WMS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Advanced Drainage Systems by 63.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,064,527 shares of the construction company's stock valued at $238,659,000 after buying an additional 799,569 shares during the period. Norges Bank bought a new position in shares of Advanced Drainage Systems in the fourth quarter valued at approximately $86,185,000. Impax Asset Management Group plc grew its stake in Advanced Drainage Systems by 34.6% during the fourth quarter. Impax Asset Management Group plc now owns 2,530,000 shares of the construction company's stock valued at $291,723,000 after acquiring an additional 650,052 shares in the last quarter. First Trust Advisors LP increased its holdings in Advanced Drainage Systems by 45.8% during the 4th quarter. First Trust Advisors LP now owns 1,732,827 shares of the construction company's stock worth $200,315,000 after acquiring an additional 544,109 shares during the period. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Advanced Drainage Systems in the 4th quarter worth approximately $46,997,000. 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.