Badger Meter (NYSE:BMI) Price Target Raised to $219.00

Badger Meter (NYSE:BMI - Get Free Report) had its price objective boosted by Robert W. Baird from $216.00 to $219.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the scientific and technical instruments company's stock. Robert W. Baird's target price suggests a potential upside of 6.64% from the stock's current price.

Several other equities research analysts have also recently issued reports on the stock. Raymond James Financial initiated coverage on shares of Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Royal Bank Of Canada raised their target price on shares of Badger Meter from $238.00 to $252.00 and gave the company an "outperform" rating in a research note on Monday, April 21st. Argus set a $240.00 price target on Badger Meter in a research report on Thursday, April 24th. Finally, Stifel Nicolaus set a $233.00 price objective on Badger Meter and gave the company a "hold" rating in a report on Monday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Badger Meter has an average rating of "Hold" and an average target price of $237.80.

Badger Meter Price Performance

NYSE:BMI opened at $205.36 on Wednesday. The company's 50-day simple moving average is $244.39 and its 200 day simple moving average is $219.90. Badger Meter has a one year low of $162.17 and a one year high of $256.08. The firm has a market capitalization of $6.05 billion, a P/E ratio of 45.23, a PEG ratio of 3.50 and a beta of 0.83.

Badger Meter (NYSE:BMI - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.02). Badger Meter had a net margin of 15.74% and a return on equity of 22.35%. The company had revenue of $238.10 million for the quarter, compared to the consensus estimate of $235.38 million. During the same quarter in the prior year, the company posted $1.12 EPS. Badger Meter's revenue was up 9.9% on a year-over-year basis. On average, equities research analysts expect that Badger Meter will post 4.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in Badger Meter in the 4th quarter worth about $227,000. HighTower Advisors LLC lifted its position in shares of Badger Meter by 11.9% in the fourth quarter. HighTower Advisors LLC now owns 5,944 shares of the scientific and technical instruments company's stock worth $1,261,000 after buying an additional 632 shares during the last quarter. Xponance Inc. lifted its position in Badger Meter by 16.1% during the 4th quarter. Xponance Inc. now owns 2,216 shares of the scientific and technical instruments company's stock worth $470,000 after acquiring an additional 308 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Badger Meter during the fourth quarter valued at about $6,682,000. Finally, Vanguard Group Inc. raised its position in Badger Meter by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,841,879 shares of the scientific and technical instruments company's stock worth $814,939,000 after purchasing an additional 44,839 shares in the last quarter. 89.01% of the stock is owned by hedge funds and other institutional investors.

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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