According to Latest Analyst Stock Ratings, Advanced Drainage Systems, Inc. (WMS:NYE) has been given an average recommendation of “Strong Buy” by the seven ratings firms currently covering the company. The average twelve-month price target among analysts who have updated their coverage on the WMS stock in the last year is $119.17.
WMS Stock-Analyst Ratings:
Various research firms have recently issued reports on WMS. Barclays raised their price target on Advanced Drainage Systems from $113.00 to $119.00 in a research note on Friday, May 19th. Robert W. Baird also raised their target price from $120.00 to $125.00 in a report on Friday, May 19th. However, Morgan Stanley lowered their price objective on Advanced Drainage Systems from $110.00 to $105.00 and assigned an “overweight” rating to the stock in a report on Wednesday, April 19th. Finally, Loop Capital increased their price objective on Advanced Drainage Systems from $115.00 to $120.00 in a report on Monday, May 22nd. The ratings indicate a generally positive sentiment among analysts.
Insider Buying and Selling:
In recent news, Chief Accounting Officer Kevin C. Talley sold 22,006 shares of Advanced Drainage Systems in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $89.67, amounting to a total transaction value of $1,973,278.02. Following the transaction, the chief accounting officer now holds 40,019 shares in the company, valued at $3,588,503.73. It is worth noting that insiders own 9.33% of the WMS stock.
Institutional Investor Activities:
Several large investors have made notable moves with respect to Advanced Drainage Systems. EverSource Wealth Advisors LLC acquired a new position in the company during the third quarter, valued at approximately $30,000.
Cullen Frost Bankers Inc. also acquired a new position in the third quarter, valued at around $37,000. Furthermore, Belpointe Asset Management LLC and Neo Ivy Capital Management acquired new positions in the fourth quarter and second quarter, respectively, with values of approximately $27,000 and $33,000.
Additionally, Global Retirement Partners LLC significantly increased its holdings in Advanced Drainage Systems during the first quarter, now owning 452 shares worth $39,000. Institutional investors currently own 83.46% of the WMS stock.
WMS Stock Price Performance:
On Tuesday, WMS opened at $97.57, with a twelve-month range of $75.02 to $153.36. The company has a debt-to-equity ratio of 1.55 and a current ratio of 2.69, indicating its financial stability. With a market capitalization of $7.71 billion, Advanced Drainage Systems has a price-to-earnings ratio of 16.07 and a beta of 1.38. The stock’s 50-day moving average price stands at $85.41, while the two-hundred-day moving average price is $87.64. These figures provide an overview of the market performance of the WMS stock and its financial position.
Quarterly Earnings and Dividend Updates:
On Thursday, May 18th, Advanced Drainage Systems announced its quarterly earnings results. The construction company reported earnings per share of $1.06 for the quarter, surpassing the consensus estimate of $0.68 by an impressive $0.38. The company’s net margin was recorded at 16.51%, with a return on equity of 52.49%.
Moreover, Advanced Drainage Systems achieved quarterly revenue of $617.60 million, exceeding analysts’ expectations of $567.10 million. However, the company experienced an 8.9% decline in revenue compared to the same quarter of the previous year. Analysts anticipate that Advanced Drainage Systems will post an EPS of 5.24 for the current year.
In addition to its strong financial performance, Advanced Drainage Systems also recently declared an increased quarterly dividend. Shareholders of record on Thursday, June 1st will receive a dividend of $0.14 per share, compared to the previous quarterly dividend of $0.12. This positive change reflects the company’s commitment to providing returns to its shareholders. With an annualized dividend of $0.56 and a yield of 0.57%, Advanced Drainage Systems demonstrates its focus on creating value for its investors.
Conclusion:
Advanced Drainage Systems, Inc. has received an average recommendation of “Strong Buy” from analysts, indicating positive sentiments surrounding the company’s prospects. The recent earnings report showcased impressive financial performance, exceeding expectations in terms of earnings per share and revenue. Moreover, the company’s decision to increase its dividend further reinforces its commitment to delivering value to shareholders. As the construction industry continues to evolve, Advanced Drainage Systems remains well-positioned with its comprehensive drainage solutions.
