Stifel Nicolaus Forecasts Strong Price Appreciation for Badger Meter (NYSE:BMI) Stock

Badger Meter (NYSE:BMI - Get Free Report) had its target price lifted by equities research analysts at Stifel Nicolaus from $200.00 to $230.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "hold" rating on the scientific and technical instruments company's stock. Stifel Nicolaus' target price suggests a potential downside of 4.88% from the company's previous close.

Several other equities analysts have also recently issued reports on BMI. Raymond James Financial began coverage on shares of Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating on the stock. Robert W. Baird reduced their target price on Badger Meter from $218.00 to $216.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Royal Bank Of Canada increased their target price on Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Finally, Argus set a $240.00 target price on Badger Meter in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $236.60.

Badger Meter Trading Down 0.3%

Shares of BMI stock traded down $0.76 during trading hours on Monday, reaching $241.81. The company's stock had a trading volume of 138,152 shares, compared to its average volume of 211,914. Badger Meter has a one year low of $162.17 and a one year high of $256.08. The stock has a market capitalization of $7.12 billion, a P/E ratio of 53.26, a P/E/G ratio of 3.47 and a beta of 0.85. The firm's fifty day simple moving average is $231.23 and its 200 day simple moving average is $216.73.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The scientific and technical instruments company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.22. Badger Meter had a net margin of 15.74% and a return on equity of 22.35%. The business had revenue of $222.21 million for the quarter, compared to analysts' expectations of $220.39 million. During the same quarter in the previous year, the business posted $0.99 earnings per share. As a group, equities research analysts forecast that Badger Meter will post 4.65 earnings per share for the current fiscal year.

Institutional Trading of Badger Meter

Hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd purchased a new position in Badger Meter during the fourth quarter valued at $25,000. Bessemer Group Inc. increased its holdings in shares of 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 valued at $31,000 after acquiring an additional 91 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Badger Meter by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 92 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Badger Meter by 83.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock worth $37,000 after purchasing an additional 88 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Badger Meter in the 1st quarter worth about $37,000. 89.01% of the stock is owned by institutional investors.

Badger Meter Company Profile

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.