Badger Meter, Inc. (BMI) Rating Reiterated by Stifel Nicolaus

Badger Meter, Inc. (NYSE:BMI)‘s stock had its “hold” rating reissued by analysts at Stifel Nicolaus in a research report issued to clients and investors on Tuesday, October 17th, Marketbeat.com reports. They presently have a $43.00 price objective on the scientific and technical instruments company’s stock, down from their prior price objective of $49.00. Stifel Nicolaus’ price target would suggest a potential downside of 3.59% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. BidaskClub raised shares of Badger Meter from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Sidoti boosted their target price on shares of Badger Meter from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Canaccord Genuity reiterated a “hold” rating and set a $40.00 price objective on shares of Badger Meter in a research note on Friday, October 6th. Zacks Investment Research downgraded shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Badger Meter in a research note on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Badger Meter presently has a consensus rating of “Hold” and an average target price of $48.00.

Shares of Badger Meter (BMI) traded up $0.25 on Tuesday, reaching $44.60. 69,121 shares of the company’s stock were exchanged, compared to its average volume of 186,111. The firm has a market capitalization of $1,291.14, a PE ratio of 38.90 and a beta of 0.65. Badger Meter has a one year low of $31.65 and a one year high of $52.10.

Badger Meter (NYSE:BMI) last announced its 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). The business had revenue of $100.00 million for the quarter, compared to analyst estimates of $102.86 million. Badger Meter had a return on equity of 12.62% and a net margin of 8.39%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. sell-side analysts forecast that Badger Meter will post 1.19 EPS for the current year.

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In other news, Director Andrew J. Policano sold 8,850 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $45.67, for a total transaction of $404,179.50. Following the completion of the transaction, the director now owns 32,561 shares in the company, valued at $1,487,060.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Beverly L. P. Smiley sold 7,550 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $45.26, for a total transaction of $341,713.00. Following the completion of the transaction, 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 worth $1,111,013 over the last ninety days. 4.50% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. NGAM Advisors L.P. raised its position in Badger Meter by 3.7% during the second quarter. NGAM Advisors L.P. now owns 133,905 shares of the scientific and technical instruments company’s stock valued at $5,336,000 after acquiring an additional 4,834 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Badger Meter by 2.6% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,658,855 shares of the scientific and technical instruments company’s stock valued at $66,105,000 after acquiring an additional 41,724 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Badger Meter by 5.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 123,181 shares of the scientific and technical instruments company’s stock valued at $4,909,000 after purchasing an additional 6,640 shares during the last quarter. Thrivent Financial For Lutherans grew its holdings in Badger Meter by 4.8% during the first quarter. Thrivent Financial For Lutherans now owns 16,390 shares of the scientific and technical instruments company’s stock valued at $602,000 after purchasing an additional 750 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its holdings in Badger Meter by 3.4% during the second quarter. Great West Life Assurance Co. Can now owns 41,196 shares of the scientific and technical instruments company’s stock valued at $1,640,000 after purchasing an additional 1,350 shares during the last quarter. 83.92% of the stock is owned by institutional investors and hedge funds.

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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