In a report released today, Ryan Connors from Boenning & Scattergood maintained a Hold rating on Advanced Drainage Systems (WMS). The company’s shares opened today at $28.36.
Connors observed:
“Weather cited on top-line; Price/cost management effective. The top-line was mixed in the quarter, with International sales expanding 12.4% year/year (driven by strength in but U.S. sales flat (of note, the company says sales of Allied Products were strong in the quarter, suggesting a decline in core pipe sales). Management cites weather for the lack of U.S. growth, noting record September rainfall in key regions, a challenging year/year comp due to and buying ahead of a major price increase. Despite the tepid 2Q, management affirmed its FY2019 revenue guidance, saying that the outlook for construction demand remains favorable and that its strategy of driving above-market growth is intact.”
According to TipRanks.com, Connors is a 4-star analyst with an average return of 10.0% and a 71.2% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, Mueller Water Products, and Franklin Electric Co.
Currently, the analyst consensus on Advanced Drainage Systems is a Moderate Buy with an average price target of $35.
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The company has a one-year high of $33.50 and a one-year low of $20.85. Currently, Advanced Drainage Systems has an average volume of 280.6K.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is neutral on the stock.
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Advanced Drainage Systems, Inc. engages in the manufacture of thermoplastic corrugated pipe which provides suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace. It operates through the following segments: Domestic and International.
