Badger Meter (NYSE:BMI) Coverage Initiated at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has initiated coverage of Badger Meter (NYSE:BMI) with an "overweight" rating and a price target of $230.00, suggesting a potential upside of 26.06% from its current price.
• Badger Meter has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a average target price of $237.00 based on various recent reports.
• The company's latest earnings report showed a net margin of 15.53% and revenue growth of 9.9% year-over-year, although it missed EPS estimates by $0.02.

Investment analysts at JPMorgan Chase & Co. started coverage on shares of Badger Meter (NYSE:BMI - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set an "overweight" rating and a $230.00 price target on the scientific and technical instruments company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 26.06% from the stock's current price.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus set a $224.00 price objective on Badger Meter in a research report on Wednesday, July 23rd. Raymond James Financial began coverage on Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating for the company. Royal Bank Of Canada lowered their price objective on Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a research report on Wednesday, July 23rd. Finally, Robert W. Baird boosted their price objective on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Badger Meter has a consensus rating of "Moderate Buy" and a consensus target price of $237.00.

Badger Meter Price Performance

NYSE BMI opened at $182.45 on Tuesday. The company has a market cap of $5.38 billion, a P/E ratio of 39.75, a P/E/G ratio of 3.22 and a beta of 0.87. The stock has a 50-day moving average of $203.67 and a two-hundred day moving average of $213.38. Badger Meter has a 1-year low of $162.17 and a 1-year high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last released its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.02). The firm had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. Badger Meter had a net margin of 15.53% and a return on equity of 21.57%. The business's revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. On average, analysts anticipate that Badger Meter will post 4.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Badger Meter

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Badger Meter by 1.4% in the second quarter. State Street Corp now owns 1,462,807 shares of the scientific and technical instruments company's stock valued at $358,315,000 after purchasing an additional 20,122 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Badger Meter by 2.3% in the second quarter. Geode Capital Management LLC now owns 876,519 shares of the scientific and technical instruments company's stock valued at $215,464,000 after acquiring an additional 19,340 shares during the period. Invesco Ltd. boosted its holdings in shares of Badger Meter by 27.1% in the second quarter. Invesco Ltd. now owns 802,166 shares of the scientific and technical instruments company's stock valued at $196,491,000 after acquiring an additional 171,275 shares during the period. Westfield Capital Management Co. LP boosted its holdings in shares of Badger Meter by 78.1% in the second quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company's stock valued at $150,108,000 after acquiring an additional 268,799 shares during the period. Finally, Congress Asset Management Co. boosted its holdings in shares of Badger Meter by 2.1% in the second quarter. Congress Asset Management Co. now owns 407,059 shares of the scientific and technical instruments company's stock valued at $99,709,000 after acquiring an additional 8,471 shares during the period. 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.

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