Badger Meter (NYSE:BMI) Coverage Initiated at Raymond James

Research analysts at Raymond James assumed coverage on shares of Badger Meter (NYSE:BMI - Get Free Report) in a note issued to investors on Tuesday, Marketbeat reports. The firm set a "market perform" rating on the scientific and technical instruments company's stock.

Several other brokerages also recently weighed in on BMI. Argus set a $240.00 price target on Badger Meter in a report on Thursday, April 24th. Maxim Group lifted their target price on shares of Badger Meter from $235.00 to $245.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Royal Bank of Canada increased their price target on shares of Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Robert W. Baird reduced their price objective on shares of Badger Meter from $218.00 to $216.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Finally, Stifel Nicolaus dropped their target price on Badger Meter from $209.00 to $196.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Badger Meter presently has an average rating of "Hold" and a consensus target price of $229.80.

Badger Meter Price Performance

Shares of NYSE:BMI traded down $0.88 on Tuesday, reaching $248.18. The company's stock had a trading volume of 224,193 shares, compared to its average volume of 210,022. Badger Meter has a 52-week low of $162.17 and a 52-week high of $256.08. The stock has a market capitalization of $7.31 billion, a P/E ratio of 58.67, a PEG ratio of 3.89 and a beta of 0.83. The stock's 50-day moving average is $217.44 and its two-hundred day moving average is $214.63.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.08 by $0.22. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. The firm had revenue of $222.21 million during the quarter, compared to the consensus estimate of $220.39 million. During the same period in the prior year, the business earned $0.99 EPS. Equities analysts forecast that Badger Meter will post 4.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new stake in shares of Badger Meter during the 4th quarter worth approximately $25,000. R Squared Ltd acquired a new position in Badger Meter during the fourth quarter worth $28,000. Bessemer Group Inc. boosted its position in Badger Meter by 162.5% during the fourth quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock worth $31,000 after purchasing an additional 91 shares in the last quarter. Principal Securities Inc. grew its holdings in Badger Meter by 2,457.1% in the fourth quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock valued at $38,000 after purchasing an additional 172 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in Badger Meter in the fourth quarter valued at $39,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

About Badger Meter

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.