Badger Meter (NYSE:BMI) Given "Hold (C+)" Rating at Weiss Ratings

Key Points

• Badger Meter's stock received a "hold (C+)" rating from Weiss Ratings, amidst mixed sentiments from multiple analysts regarding a target price range between $205.00 and $230.00.
• The company reported better-than-expected quarterly earnings with an EPS of $1.19, surpassing analysts' expectations of $1.11, and a significant year-over-year revenue increase of 13.1%.
• Recent movements among institutional investors show a notable increase in holdings, with hedge funds owning approximately 89.01% of Badger Meter's shares.

Badger Meter (NYSE:BMI - Get Free Report)'s stock had its "hold (c+)" rating reissued by Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Several other brokerages also recently issued reports on BMI. Robert W. Baird set a $205.00 target price on shares of Badger Meter and gave the company a "neutral" rating in a research note on Monday. JPMorgan Chase & Co. started coverage on shares of Badger Meter in a research note on Tuesday, September 9th. They issued an "overweight" rating and a $230.00 price target for the company. Royal Bank Of Canada set a $229.00 target price on shares of Badger Meter and gave the stock an "outperform" rating in a research report on Wednesday. Zacks Research upgraded shares of Badger Meter from a "strong sell" rating to a "hold" rating in a report on Monday, September 22nd. Finally, Stifel Nicolaus upgraded shares of Badger Meter from a "hold" rating to a "buy" rating and boosted their target price for the company from $208.00 to $215.00 in a research note on Wednesday. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Badger Meter currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.33.

Badger Meter Trading Up 0.5%

Shares of Badger Meter stock traded up $0.93 during trading hours on Friday, reaching $187.55. 206,222 shares of the company's stock were exchanged, compared to its average volume of 303,635. The company has a 50 day moving average of $180.54 and a two-hundred day moving average of $208.55. Badger Meter has a fifty-two week low of $162.17 and a fifty-two week high of $256.08. The stock has a market cap of $5.53 billion, a P/E ratio of 39.90, a P/E/G ratio of 3.23 and a beta of 0.90.

Badger Meter (NYSE:BMI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 21st. The scientific and technical instruments company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.08. Badger Meter had a net margin of 15.40% and a return on equity of 21.12%. The company had revenue of $235.65 million during the quarter, compared to the consensus estimate of $231.88 million. During the same period in the prior year, the business posted $1.08 EPS. The company's quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts expect that Badger Meter will post 4.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Badger Meter

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. increased its position in shares of Badger Meter by 170.5% during the second quarter. Cullen Frost Bankers Inc. now owns 165 shares of the scientific and technical instruments company's stock valued at $41,000 after buying an additional 104 shares during the period. Golden State Wealth Management LLC raised its holdings in Badger Meter by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock worth $35,000 after buying an additional 92 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Badger Meter by 83.0% in the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 88 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Badger Meter during the first quarter valued at approximately $37,000. Finally, Canada Pension Plan Investment Board bought a new position in Badger Meter during the second quarter valued at approximately $49,000. Hedge funds and other institutional investors own 89.01% of the company's stock.

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.

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