Wall Street Zen Upgrades Badger Meter (NYSE:BMI) to Hold

Key Points

• Wall Street Zen upgraded Badger Meter from “Sell” to “Hold.” Overall analyst sentiment is also “Hold,” with six Buy, five Hold, and one Sell rating and a consensus price target of $166.33.
• Badger Meter reported quarterly EPS of $1.24, slightly above the $1.23 consensus, while revenue of $230.3 million fell short of the $240.35 million estimate; revenue increased 0.1% year over year.
• The stock opened at $148.02, down 1.1%, with a $4.23 billion market capitalization. Institutional investors own approximately 89.01% of the company.

Badger Meter (NYSE:BMI - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also issued reports on BMI. Robert W. Baird set a $175.00 price target on shares of Badger Meter in a research note on Friday, October 23rd. Seaport Research Partners restated a "buy" rating and set a $175.00 price objective on shares of Badger Meter in a research note on Friday, October 23rd. Stifel Nicolaus set a $168.00 price objective on Badger Meter in a report on Friday, October 23rd. Zacks Research raised Badger Meter from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Argus upgraded Badger Meter from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $166.33.

Badger Meter Stock Down 1.1%

NYSE:BMI opened at $148.02 on Friday. The company has a market cap of $4.23 billion, a P/E ratio of 34.57, a price-to-earnings-growth ratio of 3.67 and a beta of 0.64. Badger Meter has a twelve month low of $112.09 and a twelve month high of $192.28. The business has a 50 day moving average price of $132.69 and a two-hundred day moving average price of $139.10.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.01. The company had revenue of $230.30 million for the quarter, compared to the consensus estimate of $240.35 million. Badger Meter had a net margin of 14.36% and a return on equity of 18.49%. The firm's revenue was up .1% compared to the same quarter last year. During the same period last year, the company earned $1.19 earnings per share. As a group, analysts anticipate that Badger Meter will post 4.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in Badger Meter during the second quarter worth approximately $27,000. Dunhill Financial LLC bought a new stake in shares of Badger Meter during the second quarter worth approximately $28,000. Integrated Wealth Concepts LLC bought a new stake in shares of Badger Meter during the second quarter worth approximately $29,000. Frazier Financial Advisors LLC bought a new stake in shares of Badger Meter during the second quarter worth approximately $30,000. Finally, State of Wyoming acquired a new position in shares of Badger Meter in the second quarter valued at approximately $43,000. Institutional investors own 89.01% of the company's stock.

Badger Meter Company Profile

Badger Meter, Inc is a water technology company that develops and manufactures flow measurement, control and communications solutions. Its products are used to measure and manage water across municipal, commercial and industrial applications, helping customers improve operational efficiency, monitor usage and support water conservation.

The company's offerings include mechanical, ultrasonic and electromagnetic flow meters; valves and related flow-control equipment; and smart water technologies.

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