Advanced Drainage Systems Inc. (NYSE:WMS) has earned an average rating of “Hold” from the six brokerages that are covering the stock. Five analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $27.00.
WMS has been the topic of several research reports. Zacks Investment Research upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Friday, August 26th. TheStreet upgraded shares of Advanced Drainage Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Deutsche Bank AG reaffirmed a “hold” rating and set a $25.00 target price (up previously from $24.00) on shares of Advanced Drainage Systems in a report on Wednesday, June 8th. Royal Bank Of Canada increased their target price on shares of Advanced Drainage Systems from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Wednesday, June 8th. Finally, Boenning Scattergood lowered shares of Advanced Drainage Systems from an “outperform” rating to a “neutral” rating in a report on Thursday, August 11th.
Shares of Advanced Drainage Systems (NYSE:WMS) traded down 2.20% during trading on Tuesday, hitting $23.08. 139,424 shares of the stock traded hands. The company has a 50 day moving average price of $25.20 and a 200 day moving average price of $24.29. Advanced Drainage Systems has a 12 month low of $17.72 and a 12 month high of $33.06. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 76.93 and a beta of 0.86.
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The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Tuesday, August 30th.
A number of large investors have recently made changes to their positions in WMS. Teacher Retirement System of Texas raised its stake in shares of Advanced Drainage Systems by 32.2% in the second quarter. Teacher Retirement System of Texas now owns 5,636 shares of the company’s stock worth $154,000 after buying an additional 1,372 shares during the period. Legal & General Group Plc raised its stake in shares of Advanced Drainage Systems by 0.3% in the first quarter. Legal & General Group Plc now owns 9,099 shares of the company’s stock worth $187,000 after buying an additional 23 shares during the period. Pitcairn Co. purchased a new stake in shares of Advanced Drainage Systems during the second quarter worth about $224,000. Springbok Capital Management LLC purchased a new stake in shares of Advanced Drainage Systems during the first quarter worth about $245,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Advanced Drainage Systems during the first quarter worth about $260,000. 71.19% 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 pipe and related water management products. The Company operates through two segments: Domestic and International. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products.
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