KeyCorp Cuts Advanced Drainage Systems (NYSE:WMS) Price Target to $135.00

Advanced Drainage Systems (NYSE:WMS) had its price target lowered by KeyCorp from $180.00 to $135.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the construction company’s stock.

Several other analysts have also recently commented on the stock. UBS Group upgraded shares of Advanced Drainage Systems from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research report on Wednesday, January 8th. Loop Capital cut their price target on shares of Advanced Drainage Systems from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. Barclays lowered their target price on shares of Advanced Drainage Systems from $160.00 to $149.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Advanced Drainage Systems in a research report on Tuesday, April 1st. They set a “buy” rating and a $134.00 price target on the stock. Finally, StockNews.com cut shares of Advanced Drainage Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $153.78.

Advanced Drainage Systems Price Performance

Shares of Advanced Drainage Systems stock opened at $102.94 on Tuesday. Advanced Drainage Systems has a twelve month low of $93.92 and a twelve month high of $184.27. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.98 and a current ratio of 3.21. The firm’s 50-day simple moving average is $112.54 and its 200-day simple moving average is $126.91. The firm has a market cap of $7.99 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 1.13 and a beta of 1.48.

Advanced Drainage Systems (NYSE:WMS) last released its quarterly earnings results 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 net margin of 15.90% and a return on equity of 35.79%. As a group, research analysts expect that Advanced Drainage Systems will post 6.1 EPS for the current fiscal year.

Advanced Drainage Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.64 annualized dividend and a yield of 0.62%. Advanced Drainage Systems’s dividend payout ratio (DPR) is currently 10.70%.

Hedge Funds Weigh In On Advanced Drainage Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WMS. UMB Bank n.a. grew its position in Advanced Drainage Systems by 12.7% during the fourth quarter. UMB Bank n.a. now owns 781 shares of the construction company’s stock worth $90,000 after buying an additional 88 shares in the last quarter. Blue Trust Inc. raised its position in shares of Advanced Drainage Systems by 12.0% during the fourth quarter. Blue Trust Inc. now owns 1,005 shares of the construction company’s stock worth $116,000 after purchasing an additional 108 shares during the period. CIBC Asset Management Inc increased its position in shares of Advanced Drainage Systems by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 2,390 shares of the construction company’s stock worth $276,000 after acquiring an additional 119 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Advanced Drainage Systems by 7.4% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,812 shares of the construction company’s stock valued at $231,000 after buying an additional 125 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its stake in shares of Advanced Drainage Systems by 18.3% in the 4th quarter. First Horizon Advisors Inc. now owns 884 shares of the construction company’s stock worth $102,000 after acquiring an additional 137 shares in the last quarter. 89.83% of the stock is owned by 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.