Advanced Drainage Systems (NYSE:WMS) Coverage Initiated by Analysts at Northcoast Research

Northcoast Research initiated coverage on shares of Advanced Drainage Systems (NYSE:WMS) in a research note published on Wednesday morning, MarketBeat.com reports. The firm issued a buy rating and a $190.00 target price on the construction company’s stock.

WMS has been the topic of several other research reports. Oppenheimer lifted their price objective on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the company an outperform rating in a research report on Thursday, April 18th. KeyCorp boosted their price target on shares of Advanced Drainage Systems from $160.00 to $185.00 and gave the stock an overweight rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Advanced Drainage Systems from a hold rating to a buy rating in a research report on Wednesday, May 1st. Finally, Stephens boosted their price target on shares of Advanced Drainage Systems from $138.00 to $182.00 and gave the stock an overweight rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $162.56.

Advanced Drainage Systems Trading Up 0.0 %

Advanced Drainage Systems stock opened at $168.19 on Wednesday. The firm has a 50 day moving average of $164.71 and a 200 day moving average of $143.28. The firm has a market capitalization of $13.05 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 1.49 and a beta of 1.51. Advanced Drainage Systems has a 12-month low of $84.71 and a 12-month high of $176.31. The company has a current ratio of 3.03, a quick ratio of 2.04 and a debt-to-equity ratio of 1.18.

Advanced Drainage Systems (NYSE:WMS) last released its earnings results on Thursday, February 8th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.44. The company had revenue of $662.37 million during the quarter, compared to analyst estimates of $632.69 million. Advanced Drainage Systems had a net margin of 17.65% and a return on equity of 49.79%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. As a group, research analysts predict that Advanced Drainage Systems will post 6.09 earnings per share for the current year.

Insider Transactions at Advanced Drainage Systems

In related news, Director Ross M. Jones sold 762,895 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total value of $124,351,885.00. Following the completion of the transaction, the director now directly owns 70,749 shares of the company’s stock, valued at approximately $11,532,087. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Advanced Drainage Systems news, EVP Michael G. Huebert sold 10,000 shares of Advanced Drainage Systems stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $163.52, for a total transaction of $1,635,200.00. Following the completion of the transaction, the executive vice president now owns 13,450 shares in the company, valued at approximately $2,199,344. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ross M. Jones sold 762,895 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $163.00, for a total value of $124,351,885.00. Following the completion of the transaction, the director now directly owns 70,749 shares of the company’s stock, valued at $11,532,087. The disclosure for this sale can be found here. Insiders own 3.79% of the company’s stock.

Institutional Investors Weigh In On Advanced Drainage Systems

Hedge funds have recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in Advanced Drainage Systems in the 3rd quarter worth $25,000. Contravisory Investment Management Inc. purchased a new stake in shares of Advanced Drainage Systems during the fourth quarter worth about $27,000. GAMMA Investing LLC acquired a new position in shares of Advanced Drainage Systems during the 4th quarter worth about $28,000. Rise Advisors LLC acquired a new position in shares of Advanced Drainage Systems during the 1st quarter worth about $32,000. Finally, Avalon Trust Co purchased a new position in Advanced Drainage Systems in the 4th quarter valued at about $38,000. 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, and drainage solutions for use in the construction and agriculture marketplaces in the United States, Canada, Mexico, and internationally. The company operates through Pipe, International, Infiltrator, and Allied Products & Other segments.