Advanced Drainage Systems Gets Price Target Bumps By Analysts After Upbeat Q4 Results

Advanced Drainage Systems Inc WMS reported better-than-expected fourth-quarter EPS and sales results. The company also announced an increase in its annual dividend..

Advanced Drainage Systems reported sales decline of 8.9% Y/Y to $617.6 million, beating the consensus estimate of $562.8 million. EPS of $1.06 beat the consensus estimates of $0.77.

Advanced Drainage expects net sales of $2.60 billion to $2.80 billion (vs. consensus of $2.85 billion) and adjusted EBITDA of $725 million to $825 million. Capital expenditures is projected to be $200 million to $225 million.

Advanced Drainage shares gained 11% to close at $98.40 on Thursday.

These analysts made changes to their price targets on Advanced Drainage following earnings announcement.

  • Deutsche Bank raised the price target on Advanced Drainage from $125 to $131. Deutsche Bank analyst Joe Ahlersmeyer maintained a Buy rating.
  • Barclays lifted the price target on Advanced Drainage from $113 to $119. Barclays analyst Matthew Bouley maintained an Overweight rating.
  • Oppenheimer raised the price target from $108 to $115. Oppenheimer analyst Bryan Blair maintained Advanced Drainage Systems with an Outperform.
  • Morgan Stanley boosted the price target from $105 to $107. Morgan Stanley analyst Joshua Pokrzywinski maintained Advanced Drainage Systems with an Overweight.
  • Baird raised the price target from $120 to $125. Baird analyst Michael Halloran maintained Advanced Drainage Systems with an Outperform.


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