Oppenheimer Reaffirms “Outperform” Rating for Advanced Drainage Systems (NYSE:WMS)

Oppenheimer reiterated their outperform rating on shares of Advanced Drainage Systems (NYSE:WMS) in a research note published on Thursday morning, Benzinga reports. Oppenheimer currently has a $192.00 price objective on the construction company’s stock.

Other research analysts have also issued research reports about the stock. Stephens lifted their price target on shares of Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an overweight rating in a research report on Friday, May 17th. Loop Capital decreased their price target on shares of Advanced Drainage Systems from $188.00 to $180.00 and set a buy rating on the stock in a research report on Monday, August 12th. Robert W. Baird decreased their price objective on shares of Advanced Drainage Systems from $200.00 to $187.00 and set an outperform rating for the company in a research note on Friday, August 9th. Barclays decreased their price objective on shares of Advanced Drainage Systems from $202.00 to $194.00 and set an overweight rating for the company in a research note on Friday, August 9th. Finally, KeyCorp raised their price objective on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the stock an overweight rating in a research note on Friday, May 17th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $190.14.

Advanced Drainage Systems Price Performance

NYSE WMS opened at $148.15 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.89 and a quick ratio of 1.90. The firm has a market capitalization of $11.48 billion, a PE ratio of 23.00, a P/E/G ratio of 1.19 and a beta of 1.55. Advanced Drainage Systems has a 12 month low of $102.32 and a 12 month high of $184.27. The company’s 50 day simple moving average is $162.26 and its 200 day simple moving average is $163.67.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, May 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.28. The firm had revenue of $653.80 million for the quarter, compared to analyst estimates of $611.99 million. Advanced Drainage Systems had a net margin of 17.09% and a return on equity of 43.60%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. As a group, equities research analysts forecast that Advanced Drainage Systems will post 7.18 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, August 30th. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 9.94%.

Insider Buying and Selling at Advanced Drainage Systems

In other Advanced Drainage Systems news, EVP Robert M. Klein sold 3,059 shares of Advanced Drainage Systems stock in a transaction on Friday, May 24th. The shares were sold at an average price of $175.95, for a total transaction of $538,231.05. Following the completion of the sale, the executive vice president now owns 102,070 shares of the company’s stock, valued at approximately $17,959,216.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Advanced Drainage Systems news, EVP Robert M. Klein sold 3,059 shares of Advanced Drainage Systems stock in a transaction on Friday, May 24th. The shares were sold at an average price of $175.95, for a total transaction of $538,231.05. Following the completion of the sale, the executive vice president now owns 102,070 shares of the company’s stock, valued at approximately $17,959,216.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tim A. Makowski sold 3,800 shares of Advanced Drainage Systems stock in a transaction on Friday, May 31st. The shares were sold at an average price of $170.68, for a total transaction of $648,584.00. Following the sale, the insider now directly owns 4,530 shares of the company’s stock, valued at approximately $773,180.40. The disclosure for this sale can be found here. Insiders sold 176,004 shares of company stock valued at $30,547,285 in the last quarter. Company insiders own 2.05% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WMS. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Advanced Drainage Systems by 319.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 151 shares of the construction company’s stock worth $26,000 after acquiring an additional 115 shares during the period. GAMMA Investing LLC bought a new position in Advanced Drainage Systems in the 4th quarter worth $28,000. West Oak Capital LLC raised its holdings in Advanced Drainage Systems by 133.3% in the 2nd quarter. West Oak Capital LLC now owns 175 shares of the construction company’s stock worth $28,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. raised its holdings in Advanced Drainage Systems by 1,472.7% in the 2nd quarter. Blue Trust Inc. now owns 173 shares of the construction company’s stock worth $30,000 after acquiring an additional 162 shares during the period. Finally, Rise Advisors LLC bought a new position in Advanced Drainage Systems in the 1st quarter worth $32,000. 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, 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.