Badger Meter (NYSE:BMI) PT Raised to $184.00

Badger Meter (NYSE:BMI) had its price objective lifted by research analysts at Robert W. Baird from $180.00 to $184.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the scientific and technical instruments company’s stock. Robert W. Baird’s target price indicates a potential downside of 9.98% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Northcoast Research raised shares of Badger Meter from a “sell” rating to a “neutral” rating in a report on Thursday, April 18th. Maxim Group raised their price objective on shares of Badger Meter from $190.00 to $207.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Stifel Nicolaus raised their price objective on shares of Badger Meter from $175.00 to $192.00 and gave the stock a “hold” rating in a report on Thursday, July 18th. Finally, StockNews.com raised shares of Badger Meter from a “hold” rating to a “buy” rating in a report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $184.20.

Badger Meter Stock Up 1.4 %

Shares of NYSE:BMI opened at $204.41 on Monday. The firm’s 50 day moving average price is $191.30 and its 200 day moving average price is $171.40. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 58.91, a price-to-earnings-growth ratio of 2.89 and a beta of 0.78. Badger Meter has a fifty-two week low of $134.06 and a fifty-two week high of $206.57.

Badger Meter (NYSE:BMI) last issued its earnings results on Friday, July 19th. The scientific and technical instruments company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.09. The firm had revenue of $216.70 million for the quarter, compared to analysts’ expectations of $203.39 million. Badger Meter had a net margin of 14.44% and a return on equity of 21.42%. The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. On average, equities analysts anticipate that Badger Meter will post 3.94 EPS for the current year.

Hedge Funds Weigh In On Badger Meter

A number of institutional investors have recently modified their holdings of BMI. Norges Bank acquired a new position in shares of Badger Meter in the 4th quarter valued at $47,359,000. DekaBank Deutsche Girozentrale grew its position in Badger Meter by 851.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 141,591 shares of the scientific and technical instruments company’s stock valued at $21,585,000 after buying an additional 126,707 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Badger Meter by 33.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 397,614 shares of the scientific and technical instruments company’s stock valued at $61,380,000 after buying an additional 100,304 shares during the last quarter. KBC Group NV grew its position in Badger Meter by 29.8% in the 4th quarter. KBC Group NV now owns 324,720 shares of the scientific and technical instruments company’s stock valued at $50,127,000 after buying an additional 74,578 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in Badger Meter in the 4th quarter valued at $10,360,000. 89.01% of the stock is owned by institutional investors and hedge funds.

Badger Meter Company Profile

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.