Badger Meter (NYSE:BMI) Upgraded to Hold at Zacks Research

Key Points

• Badger Meter has been upgraded from a "strong sell" rating to a "hold" rating by Zacks Research.
• The stock currently has a consensus price target of $237.00 with three analysts rating it as a buy and four as a hold.
• In its most recent earnings report, Badger Meter reported a net margin of 15.53%, with revenue up 9.9% year-over-year, despite missing earnings estimates by $0.02.

Badger Meter (NYSE:BMI - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus set a $224.00 price target on Badger Meter in a report on Wednesday, July 23rd. Robert W. Baird boosted their target price on Badger Meter from $216.00 to $219.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. assumed coverage on shares of Badger Meter in a report on Tuesday, September 9th. They set an "overweight" rating and a $230.00 price target on the stock. Royal Bank Of Canada reduced their price target on shares of Badger Meter from $284.00 to $264.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Finally, 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. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $237.00.

Badger Meter Stock Down 1.1%

NYSE:BMI opened at $175.24 on Monday. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 3.14 and a beta of 0.88. The company's 50 day moving average price is $189.93 and its 200-day moving average price is $210.94. Badger Meter has a 52 week low of $162.17 and a 52 week high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.The firm had revenue of $238.10 million during the quarter, compared to analysts' expectations of $235.38 million. During the same quarter in the previous year, the firm earned $1.12 earnings per share. Badger Meter's revenue was up 9.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Badger Meter will post 4.65 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BMI. Brighton Jones LLC bought a new stake in shares of Badger Meter during the 4th quarter valued at $227,000. Two Sigma Advisers LP purchased a new position in Badger Meter during the fourth quarter valued at $318,000. Heck Capital Advisors LLC bought a new stake in Badger Meter during the fourth quarter valued at about $39,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Badger Meter during the fourth quarter valued at about $19,270,000. Finally, Wellington Management Group LLP increased its position in Badger Meter by 0.4% in the fourth quarter. Wellington Management Group LLP now owns 20,140 shares of the scientific and technical instruments company's stock worth $4,272,000 after buying an additional 84 shares in the last quarter. 89.01% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.