Badger Meter (NYSE:BMI) Price Target Raised to $219.00

Badger Meter (NYSE:BMI) had its price target lifted by Robert W. Baird from $216.00 to $219.00 in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the scientific and technical instruments company’s stock.

Several other equities research analysts have also weighed in on the company. Raymond James Financial began coverage on Badger Meter in a report on Tuesday, June 3rd. They issued a “market perform” rating for the company. Argus set a $240.00 price target on shares of Badger Meter in a research report on Thursday, April 24th. Stifel Nicolaus set a $233.00 price objective on shares of Badger Meter and gave the stock a “hold” rating in a report on Monday, July 21st. Finally, Royal Bank Of Canada boosted their target price on shares of Badger Meter from $238.00 to $252.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Badger Meter currently has an average rating of “Hold” and an average price target of $238.40.

Badger Meter Price Performance

Shares of Badger Meter stock opened at $193.18 on Wednesday. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 42.09, a P/E/G ratio of 3.25 and a beta of 0.83. The stock has a 50-day simple moving average of $240.42 and a 200-day simple moving average of $219.32. Badger Meter has a 52-week low of $162.17 and a 52-week high of $256.08.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.02). The business had revenue of $238.10 million for the quarter, compared to analyst estimates of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. As a group, equities research analysts predict that Badger Meter will post 4.65 earnings per share for the current year.

Hedge Funds Weigh In On Badger Meter

Several large investors have recently bought and sold shares of the stock. Evergreen Capital Management LLC increased its holdings in shares of Badger Meter by 1.8% during the 4th quarter. Evergreen Capital Management LLC now owns 2,780 shares of the scientific and technical instruments company’s stock worth $590,000 after purchasing an additional 48 shares during the period. Values First Advisors Inc. grew its position in Badger Meter by 0.6% during the first quarter. Values First Advisors Inc. now owns 8,739 shares of the scientific and technical instruments company’s stock worth $1,663,000 after buying an additional 53 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in Badger Meter by 0.6% during the second quarter. Maryland State Retirement & Pension System now owns 8,649 shares of the scientific and technical instruments company’s stock valued at $2,119,000 after acquiring an additional 54 shares during the period. Norway Savings Bank raised its holdings in Badger Meter by 2.1% in the 2nd quarter. Norway Savings Bank now owns 2,775 shares of the scientific and technical instruments company’s stock valued at $680,000 after acquiring an additional 57 shares in the last quarter. Finally, Choreo LLC lifted its position in shares of Badger Meter by 4.6% in the 1st quarter. Choreo LLC now owns 1,361 shares of the scientific and technical instruments company’s stock worth $259,000 after acquiring an additional 60 shares during the period. 89.01% of the stock is currently 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.