Badger Meter (NYSE:BMI) Price Target Cut to $145.00 by Analysts at Robert W. Baird

Key Points

• Robert W. Baird cut its price target on Badger Meter from $173 to $145 while keeping an "outperform" rating, a target that implies about a 25% upside from the prior close.
• Analyst sentiment is mixed — five Buy, five Hold and one Sell — giving an average rating of Hold and an average price target of about $173.38, with several firms (including JPMorgan and Jefferies) recently trimming targets.
• On fundamentals, Badger Meter reported last-quarter EPS of $1.14 on $220.7M revenue, has a market cap of ~$3.38B, and its stock is trading near its 1‑year low (opened at $115.76; 1‑year low $115.11, high $256.08).

Badger Meter (NYSE:BMI - Get Free Report) had its price target dropped by Robert W. Baird from $173.00 to $145.00 in a note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has an "outperform" rating on the scientific and technical instruments company's stock. Robert W. Baird's price objective suggests a potential upside of 25.26% from the company's previous close.

Several other research analysts have also weighed in on the company. Stifel Nicolaus set a $174.00 target price on Badger Meter and gave the stock a "buy" rating in a research report on Tuesday, April 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Badger Meter in a research report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their target price on Badger Meter from $190.00 to $160.00 and set an "overweight" rating on the stock in a research report on Friday. Jefferies Financial Group dropped their target price on Badger Meter from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, January 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $167.00 target price on shares of Badger Meter in a research report on Thursday, January 29th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $173.38.

Badger Meter Trading Up 0.2%

Shares of Badger Meter stock opened at $115.76 on Monday. The stock has a 50-day moving average price of $152.42 and a 200 day moving average price of $167.43. The company has a market cap of $3.38 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.87 and a beta of 0.90. Badger Meter has a 1 year low of $115.11 and a 1 year high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%.The firm had revenue of $220.71 million during the quarter. On average, equities analysts forecast that Badger Meter will post 4.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Fred J. Begale sold 2,064 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $150.00, for a total transaction of $309,600.00. Following the transaction, the vice president owned 3,040 shares of the company's stock, valued at approximately $456,000. This represents a 40.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Robert Wrocklage acquired 1,650 shares of the stock in a transaction dated Monday, February 9th. The shares were bought at an average cost of $152.35 per share, for a total transaction of $251,377.50. Following the acquisition, the executive vice president owned 19,541 shares in the company, valued at $2,977,071.35. The trade was a 9.22% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 3,989 shares of company stock worth $596,002. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMI. N.E.W. Advisory Services LLC acquired a new position in shares of Badger Meter during the 4th quarter valued at about $25,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Badger Meter by 76.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company's stock valued at $26,000 after acquiring an additional 65 shares during the last quarter. Godfrey Financial Associates Inc. acquired a new stake in Badger Meter in the 4th quarter valued at approximately $27,000. Caitlin John LLC acquired a new stake in Badger Meter in the 3rd quarter valued at approximately $31,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Badger Meter by 62.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock valued at $33,000 after buying an additional 71 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

About Badger Meter

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company's core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company's product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.

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