A dark pool trade was detected in WMS stock on September 18, 2020.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
On September 18, 2020, Loop Capital analyst Garik Shmois keeps his Buy rating and $67 price target on Advanced Drainage following an “expert call” discussing the stormwater pipe market-leading indicators, geographic mix, product mix considerations, pricing and other topics. The analyst says he is even more positive on the stock after the discussion suggestion that the company is set to capture a wider price to raw material spread on “stickiness” of its pricing and outperformance relative to the broader construction markets. Shmois adds that the accelerating housing market helps to offset a more sluggish commercial market for Advanced Drainage.
Back on August 6, 2020, Advanced Drainage reported Q1 EPS of 83c versus the consensus estimate of 68c. The company reported Q1 revenue of $508.6M versus the consensus estimate of $494.94M.
CEO Scott Barbour commented, “We had a strong start to FY21 as demand and business activity remained stable overall in Q1, with underlying variability by geography and end market. Strong performance in key growth states like the Carolinas, Florida, the Southeast and Utah was partially offset early in the quarter by states that reduced construction activity due to the COVID pandemic. Additionally, we experienced a strong selling season in the domestic Agriculture market with 36% growth in the first quarter. As a whole, ADS benefitted from our national presence as well as our geographic and end market exposure, including the increased exposure to the Residential end market that Infiltrator provides. “We also achieved record profitability in Q1. Organic Adjusted EBITDA margin increased 830 basis points driven by favorable material cost, lower manufacturing and transportation costs driven by our operational initiatives, contributions from the proactive cost mitigation steps announced in March, and leverage from the sales growth in both pipe and Allied products. (…) Q2 continues similarly to Q1 at both ADS and Infiltrator. Our order book, project tracking, book to bill ratio and backlog all remain positive year-over-year. We expect the normal seasonal patterns to apply as the year progresses. However, uncertainties exist regarding the future market environment. Disciplined execution and focusing on the basics are particularly important in the current market environment and we will be focused on these as we build on our strong start to FY21.”