Loop Capital Issues Pessimistic Forecast for Advanced Drainage Systems (NYSE:WMS) Stock Price

Advanced Drainage Systems (NYSE:WMS) had its price objective reduced by equities researchers at Loop Capital from $170.00 to $160.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Loop Capital’s price target would suggest a potential upside of 32.88% from the company’s current price.

Several other research analysts have also issued reports on the company. Oppenheimer lowered their target price on Advanced Drainage Systems from $192.00 to $184.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Robert W. Baird decreased their price objective on Advanced Drainage Systems from $174.00 to $161.00 and set an “outperform” rating for the company in a report on Monday, November 11th. UBS Group upgraded Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a report on Wednesday, January 8th. KeyCorp decreased their price objective on shares of Advanced Drainage Systems from $195.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Stephens reiterated an “equal weight” rating and issued a $135.00 target price on shares of Advanced Drainage Systems in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.25.

Advanced Drainage Systems Stock Performance

Shares of WMS traded up $2.73 during midday trading on Friday, reaching $120.41. 890,142 shares of the stock were exchanged, compared to its average volume of 636,330. Advanced Drainage Systems has a twelve month low of $110.75 and a twelve month high of $184.27. The company has a market cap of $9.33 billion, a P/E ratio of 19.17, a PEG ratio of 1.16 and a beta of 1.52. The stock’s 50 day simple moving average is $121.63 and its 200 day simple moving average is $140.70. The company has a quick ratio of 2.15, a current ratio of 3.19 and a debt-to-equity ratio of 0.97.

Advanced Drainage Systems (NYSE:WMS) last announced its quarterly earnings data on Thursday, February 6th. The construction company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.25). Advanced Drainage Systems had a return on equity of 40.31% and a net margin of 16.89%. On average, sell-side analysts expect that Advanced Drainage Systems will post 6.12 earnings per share for the current year.

Hedge Funds Weigh In On Advanced Drainage Systems

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp raised its position in Advanced Drainage Systems by 8.8% during the third quarter. State Street Corp now owns 2,541,688 shares of the construction company’s stock valued at $399,452,000 after purchasing an additional 206,105 shares during the period. Impax Asset Management Group plc increased its position in shares of 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 worth $291,723,000 after acquiring an additional 650,052 shares during the period. Swedbank AB increased its stake in shares of Advanced Drainage Systems by 5.8% during the third quarter. Swedbank AB now owns 1,384,276 shares of the construction company’s stock valued at $217,553,000 after buying an additional 75,455 shares during the period. Geode Capital Management LLC boosted its stake in shares of Advanced Drainage Systems by 5.2% during the third quarter. Geode Capital Management LLC now owns 1,186,878 shares of the construction company’s stock valued at $186,578,000 after purchasing an additional 59,158 shares in the last quarter. Finally, Amundi boosted its position in Advanced Drainage Systems by 72.2% during the 4th quarter. Amundi now owns 854,764 shares of the construction company’s stock valued at $98,678,000 after acquiring an additional 358,271 shares in the last quarter. 89.83% of the stock is currently owned by hedge funds and other institutional investors.

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.