JPMorgan Chase & Co. Cuts Badger Meter (NYSE:BMI) Price Target to $170.00

Key Points

• JPMorgan lowered its price target on Badger Meter to $170 from $172, while keeping an overweight rating. The new target still implies about 37.5% upside from the previous close.
• Badger Meter shares fell 2.4% to $123.62 in Thursday trading, even though the company posted a slight earnings beat with Q2 EPS of $1.02 versus $1.01 expected. Revenue came in just below estimates at $220.3 million and was down 6.6% year over year.
• Analyst views are mixed: some firms cut targets or ratings, while others remain constructive, and the stock’s consensus rating is Hold with an average target price of $163.57. Institutional investors still own a large majority of the shares, at 89.01%.

Badger Meter (NYSE:BMI - Get Free Report) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $172.00 to $170.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the scientific and technical instruments company's stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 37.51% from the company's previous close.

Other analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Badger Meter from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Maxim Group lowered shares of Badger Meter from a "buy" rating to a "hold" rating in a report on Thursday, April 23rd. Royal Bank Of Canada decreased their price objective on Badger Meter from $169.00 to $162.00 and set an "outperform" rating for the company in a report on Thursday. Seaport Research Partners set a $160.00 target price on Badger Meter in a research note on Thursday. Finally, Barclays decreased their price target on Badger Meter from $110.00 to $109.00 and set an "underweight" rating for the company in a research note on Monday, July 13th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $163.57.

Badger Meter Stock Down 2.4%

Shares of NYSE BMI traded down $3.04 during midday trading on Thursday, reaching $123.62. 757,678 shares of the company's stock traded hands, compared to its average volume of 513,301. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 2.62 and a beta of 0.64. The stock's 50 day simple moving average is $134.06 and its 200-day simple moving average is $144.47. Badger Meter has a one year low of $112.09 and a one year high of $204.00.

Badger Meter (NYSE:BMI - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.01. The company had revenue of $220.30 million during the quarter, compared to analyst estimates of $220.59 million. Badger Meter had a return on equity of 18.76% and a net margin of 14.56%.Badger Meter's revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. Equities analysts predict that Badger Meter will post 4.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Badger Meter

Several institutional investors and hedge funds have recently modified their holdings of the stock. N.E.W. Advisory Services LLC purchased a new stake in Badger Meter in the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd grew its position in Badger Meter by 76.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company's stock valued at $26,000 after buying an additional 65 shares during the period. Godfrey Financial Associates Inc. purchased a new position in Badger Meter in the fourth quarter valued at $27,000. Brown Brothers Harriman & Co. raised its position in shares of Badger Meter by 62.3% in the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company's stock worth $33,000 after acquiring an additional 71 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Badger Meter during the 2nd quarter worth about $49,000. Institutional investors and hedge funds own 89.01% of the company's stock.

More Badger Meter News

Here are the key news stories impacting Badger Meter this week:

• Positive Sentiment: Royal Bank of Canada lowered its price target on Badger Meter to $162 from $169, but kept an “outperform” rating, implying meaningful upside from current levels. Article Title
• Neutral Sentiment: Badger Meter reported Q2 EPS of $1.02, slightly ahead of expectations, but revenue of $220.3 million was below last year’s level and operating profit margin fell to 17.7% from 18.8%. Article Title
• Neutral Sentiment: Analysts’ average price target remains well above the current share price, and one brokerage summary cited a blended target of about $155.71. Article Title
• Negative Sentiment: Multiple firms issued investor alerts and class-action reminders alleging Badger Meter misled investors about demand and order trends, increasing legal overhang and headline risk. Article Title

Badger Meter Company Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company's core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company's product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.

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