Badger Meter (NYSE:BMI) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Badger Meter (NYSE:BMI - Get Free Report) had its target price upped by analysts at Stifel Nicolaus from $200.00 to $230.00 in a research note issued on Monday,Benzinga reports. The firm presently has a "hold" rating on the scientific and technical instruments company's stock. Stifel Nicolaus' price target suggests a potential downside of 6.08% from the stock's current price.

Several other research analysts have also issued reports on BMI. Argus set a $240.00 target price on Badger Meter in a research report on Thursday, April 24th. Raymond James initiated coverage on Badger Meter in a research report on Tuesday, June 3rd. They set a "market perform" rating for the company. 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. Finally, Royal Bank of Canada boosted their price target on shares of Badger Meter from $238.00 to $252.00 and gave the stock an "outperform" rating in a research report on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $236.60.

Badger Meter Stock Up 0.9%

Shares of NYSE:BMI traded up $2.15 during midday trading on Monday, hitting $244.90. The stock had a trading volume of 67,611 shares, compared to its average volume of 211,280. The company's 50-day moving average price is $226.29 and its 200-day moving average price is $216.04. The company has a market capitalization of $7.21 billion, a P/E ratio of 57.88, a price-to-earnings-growth ratio of 3.89 and a beta of 0.85. Badger Meter has a fifty-two week low of $162.17 and a fifty-two week high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The scientific and technical instruments company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.08 by $0.22. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. The business had revenue of $222.21 million during the quarter, compared to the consensus estimate of $220.39 million. During the same quarter in the prior year, the firm earned $0.99 EPS. Research analysts expect that Badger Meter will post 4.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Badger Meter

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC acquired a new position in Badger Meter during the fourth quarter worth $227,000. Empowered Funds LLC purchased a new stake in shares of Badger Meter during the 4th quarter valued at $826,000. Allspring Global Investments Holdings LLC bought a new stake in Badger Meter in the fourth quarter worth about $1,615,000. Van ECK Associates Corp boosted its stake in Badger Meter by 68.1% in the fourth quarter. Van ECK Associates Corp now owns 33,395 shares of the scientific and technical instruments company's stock valued at $7,083,000 after acquiring an additional 13,526 shares during the last quarter. Finally, Principal Securities Inc. increased its stake in shares of Badger Meter by 2,457.1% during the 4th quarter. Principal Securities Inc. now owns 179 shares of the scientific and technical instruments company's stock worth $38,000 after purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds own 89.01% of the company's stock.

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.

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