Advanced Drainage Systems (NYSE:WMS) Given New $194.00 Price Target at Barclays

Advanced Drainage Systems (NYSE:WMS) had its target price dropped by stock analysts at Barclays from $202.00 to $194.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the construction company’s stock. Barclays‘s target price suggests a potential upside of 32.68% from the stock’s previous close.

WMS has been the subject of several other reports. Oppenheimer lifted their price target on shares of Advanced Drainage Systems from $172.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. KeyCorp lifted their target price on shares of Advanced Drainage Systems from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. Stephens increased their price target on Advanced Drainage Systems from $182.00 to $193.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Robert W. Baird dropped their price target on Advanced Drainage Systems from $200.00 to $187.00 and set an “outperform” rating for the company in a report on Friday. Finally, Northcoast Research started coverage on Advanced Drainage Systems in a research note on Wednesday, May 8th. They issued a “buy” rating and a $190.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Drainage Systems has a consensus rating of “Moderate Buy” and a consensus target price of $189.83.

Advanced Drainage Systems Stock Down 1.9 %

WMS stock opened at $146.22 on Friday. Advanced Drainage Systems has a twelve month low of $102.32 and a twelve month high of $184.27. The company has a quick ratio of 1.90, a current ratio of 2.96 and a debt-to-equity ratio of 1.13. The company has a market cap of $11.33 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55. The business’s 50-day simple moving average is $164.77 and its 200 day simple moving average is $162.65.

Advanced Drainage Systems (NYSE:WMS) last posted its quarterly earnings results on Thursday, August 8th. The construction company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.08. Advanced Drainage Systems had a net margin of 17.74% and a return on equity of 46.93%. The firm had revenue of $815.34 million for the quarter, compared to the consensus estimate of $828.00 million. On average, research analysts anticipate that Advanced Drainage Systems will post 7.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Robert M. Klein sold 3,059 shares of Advanced Drainage Systems stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $175.95, for a total transaction of $538,231.05. Following the transaction, the executive vice president now owns 102,070 shares in the company, valued at approximately $17,959,216.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Robert M. Klein sold 3,059 shares of the firm’s 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 sale, the executive vice president now directly owns 102,070 shares in the company, valued at $17,959,216.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Scott A. Cottrill sold 73,207 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $173.11, for a total transaction of $12,672,863.77. Following the completion of the sale, the chief financial officer now directly owns 91,442 shares in the company, valued at $15,829,524.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 176,004 shares of company stock worth $30,547,285. Corporate insiders own 2.05% of the company’s stock.

Institutional Trading of Advanced Drainage Systems

A number of institutional investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in Advanced Drainage Systems by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 63,692 shares of the construction company’s stock worth $10,216,000 after acquiring an additional 851 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Advanced Drainage Systems by 19.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,081 shares of the construction company’s stock worth $655,000 after purchasing an additional 661 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Advanced Drainage Systems by 4.7% in the 2nd quarter. William Blair Investment Management LLC now owns 1,430,091 shares of the construction company’s stock valued at $229,372,000 after buying an additional 64,618 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in shares of Advanced Drainage Systems in the second quarter valued at $382,000. Finally, Federated Hermes Inc. increased its holdings in Advanced Drainage Systems by 1.2% during the second quarter. Federated Hermes Inc. now owns 344,314 shares of the construction company’s stock worth $55,225,000 after buying an additional 4,240 shares during the last quarter. 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.