Badger Meter (NYSE:BMI) Raised to Buy at Stifel Nicolaus

Key Points

• Badger Meter has been upgraded from a "hold" to a "buy" rating by Stifel Nicolaus, with a price target of $215.00, indicating a potential upside of 21.70% from its current price.
• Several research analysts have varied opinions on Badger Meter, with an average rating of "Moderate Buy" and an average target price of $233.17.
• In its latest earnings report, Badger Meter posted $1.19 EPS, beating estimates, along with a 13.1% year-over-year revenue increase, totaling $235.65 million for the quarter.

Badger Meter (NYSE:BMI - Get Free Report) was upgraded by equities research analysts at Stifel Nicolaus from a "hold" rating to a "buy" rating in a report issued on Wednesday,Briefing.com Automated Import reports. The firm presently has a $215.00 price target on the scientific and technical instruments company's stock. Stifel Nicolaus' price target would indicate a potential upside of 21.70% from the stock's current price.

A number of other research analysts have also issued reports on BMI. Royal Bank Of Canada decreased their target price on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Weiss Ratings lowered Badger Meter from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. Zacks Research raised Badger Meter from a "strong sell" rating to a "hold" rating in a research note on Monday, September 22nd. JPMorgan Chase & Co. assumed coverage on Badger Meter in a research note on Tuesday, September 9th. They issued an "overweight" rating and a $230.00 price objective for the company. Finally, Robert W. Baird set a $205.00 price objective on Badger Meter and gave the company a "neutral" rating in a research note on Monday. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $233.17.

Badger Meter Price Performance

Shares of NYSE:BMI opened at $176.66 on Wednesday. Badger Meter has a 1 year low of $162.17 and a 1 year high of $256.08. The firm has a market capitalization of $5.21 billion, a price-to-earnings ratio of 38.49, a price-to-earnings-growth ratio of 3.32 and a beta of 0.90. The business's 50 day moving average price is $180.83 and its 200-day moving average price is $208.63.

Badger Meter (NYSE:BMI - Get Free Report) last announced its earnings results on Tuesday, October 21st. The scientific and technical instruments company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.08. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The firm had revenue of $235.65 million for the quarter, compared to analyst estimates of $231.88 million. During the same quarter last year, the firm posted $1.08 EPS. The business's revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts expect that Badger Meter will post 4.65 earnings per share for the current year.

Institutional Trading of Badger Meter

A number of hedge funds and other institutional investors have recently modified their holdings of BMI. Brighton Jones LLC acquired a new stake in shares of Badger Meter in the 4th quarter worth $227,000. GAMMA Investing LLC increased its stake in shares of Badger Meter by 11.8% in the 1st quarter. GAMMA Investing LLC now owns 878 shares of the scientific and technical instruments company's stock worth $167,000 after acquiring an additional 93 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Badger Meter during the 1st quarter worth $369,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Badger Meter by 5.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,233 shares of the scientific and technical instruments company's stock worth $3,659,000 after purchasing an additional 991 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Badger Meter by 46.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,396 shares of the scientific and technical instruments company's stock worth $456,000 after purchasing an additional 761 shares during the period. 89.01% of the stock is 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.

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