KeyCorp Raises Advanced Drainage Systems (NYSE:WMS) Price Target to $185.00

Advanced Drainage Systems (NYSE:WMSFree Report) had its price objective boosted by KeyCorp from $160.00 to $185.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the construction company’s stock.

Other equities analysts have also issued research reports about the stock. Barclays upped their price target on shares of Advanced Drainage Systems from $151.00 to $156.00 and gave the stock an overweight rating in a research report on Wednesday, December 13th. Stephens upped 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. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Advanced Drainage Systems presently has a consensus rating of Moderate Buy and an average target price of $155.13.

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Advanced Drainage Systems Stock Performance

NYSE:WMS opened at $163.46 on Friday. The firm has a 50 day simple moving average of $134.98 and a 200-day simple moving average of $124.83. The company has a debt-to-equity ratio of 1.18, a current ratio of 3.03 and a quick ratio of 2.04. The firm has a market cap of $12.69 billion, a PE ratio of 25.99, a P/E/G ratio of 2.58 and a beta of 1.45. Advanced Drainage Systems has a 1-year low of $75.02 and a 1-year high of $164.40.

Advanced Drainage Systems (NYSE:WMSGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.44. The business 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 company’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.99 earnings per share. On average, equities analysts expect that Advanced Drainage Systems will post 5.52 EPS for the current year.

Advanced Drainage Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.14 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.56 annualized dividend and a dividend yield of 0.34%. Advanced Drainage Systems’s dividend payout ratio (DPR) is presently 8.90%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. bought a new position in Advanced Drainage Systems during the 3rd quarter valued at $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Advanced Drainage Systems by 94.2% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 233 shares of the construction company’s stock valued at $27,000 after acquiring an additional 113 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Advanced Drainage Systems during the 4th quarter valued at $27,000. GAMMA Investing LLC bought a new position in Advanced Drainage Systems during the 4th quarter valued at $28,000. Finally, Neo Ivy Capital Management bought a new position in Advanced Drainage Systems during the 2nd quarter valued at $33,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

About Advanced Drainage Systems

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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.

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