Robert W. Baird Reaffirms “Hold” Rating for Badger Meter, Inc. (BMI)

Robert W. Baird reissued their hold rating on shares of Badger Meter, Inc. (NYSE:BMI) in a research note released on Tuesday, October 17th. The brokerage currently has a $44.00 target price on the scientific and technical instruments company’s stock.

BMI has been the topic of a number of other research reports. Sidoti raised their price objective on Badger Meter from $55.00 to $65.00 and gave the company a buy rating in a report on Thursday, October 5th. Boenning Scattergood reaffirmed a hold rating on shares of Badger Meter in a research report on Friday, July 21st. Stifel Nicolaus started coverage on Badger Meter in a research report on Monday, September 18th. They issued a hold rating and a $43.00 target price for the company. BidaskClub raised Badger Meter from a hold rating to a buy rating in a research report on Monday, July 24th. Finally, Zacks Investment Research downgraded Badger Meter from a strong-buy rating to a hold rating in a research report on Wednesday, September 20th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $48.00.

Shares of Badger Meter (NYSE BMI) traded up $0.02 during trading hours on Tuesday, hitting $44.38. 104,089 shares of the company’s stock were exchanged, compared to its average volume of 186,111. Badger Meter has a 1 year low of $31.65 and a 1 year high of $52.10. The firm has a market cap of $1,291.14, a price-to-earnings ratio of 38.90 and a beta of 0.65.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Monday, October 16th. The scientific and technical instruments company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). Badger Meter had a net margin of 8.39% and a return on equity of 12.62%. The company had revenue of $100.00 million during the quarter, compared to analyst estimates of $102.86 million. During the same period in the prior year, the business posted $0.30 EPS. Badger Meter’s revenue was up 3.8% compared to the same quarter last year. equities research analysts forecast that Badger Meter will post 1.19 earnings per share for the current year.

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In other Badger Meter news, Director Andrew J. Policano sold 8,850 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $45.67, for a total value of $404,179.50. Following the completion of the sale, the director now owns 32,561 shares in the company, valued at $1,487,060.87. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Beverly L. P. Smiley sold 7,550 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $45.26, for a total value of $341,713.00. Following the completion of the sale, the vice president now owns 56,449 shares of the company’s stock, valued at approximately $2,554,881.74. The disclosure for this sale can be found here. Insiders sold 24,400 shares of company stock valued at $1,111,013 over the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. First Personal Financial Services acquired a new position in Badger Meter during the second quarter worth $119,000. SG Americas Securities LLC acquired a new position in Badger Meter during the second quarter worth $140,000. Pinebridge Investments L.P. grew its holdings in Badger Meter by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 3,836 shares of the scientific and technical instruments company’s stock worth $153,000 after acquiring an additional 38 shares during the period. Victory Capital Management Inc. grew its holdings in Badger Meter by 33.2% during the first quarter. Victory Capital Management Inc. now owns 4,475 shares of the scientific and technical instruments company’s stock worth $164,000 after acquiring an additional 1,116 shares during the period. Finally, Rock Point Advisors LLC acquired a new position in Badger Meter during the third quarter worth $201,000. Institutional investors and hedge funds own 83.92% of the company’s stock.

Badger Meter Company Profile

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

Analyst Recommendations for Badger Meter (NYSE:BMI)

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