Equities research analysts at Argus began coverage on shares of Badger Meter (NYSE:BMI) in a research note issued to investors on Tuesday, The Fly reports. The firm set a "buy" rating on the scientific and technical instruments company's stock.
BMI has been the subject of several other reports. Robert W. Baird lifted their price objective on Badger Meter from $53.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, June 18th. Maxim Group restated a "hold" rating and set a $57.00 price objective on shares of Badger Meter in a research report on Friday, April 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. The company has a consensus rating of "Hold" and an average price target of $56.40.
Shares of NYSE:BMI opened at $59.79 on Tuesday. The business's 50 day simple moving average is $61.49 and its 200-day simple moving average is $60.70. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 36.02 and a beta of 0.82. Badger Meter has a 12 month low of $41.50 and a 12 month high of $70.83.
Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Thursday, April 16th. The scientific and technical instruments company reported $0.41 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.36 by $0.05. The business had revenue of $108.50 million for the quarter, compared to analyst estimates of $106.67 million. Badger Meter had a return on equity of 14.76% and a net margin of 11.26%. The company's quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 EPS. On average, sell-side analysts expect that Badger Meter will post 1.59 EPS for the current year.
In other Badger Meter news, VP Fred J. Begale sold 518 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $64.05, for a total value of $33,177.90. Following the completion of the transaction, the vice president now directly owns 4,250 shares in the company, valued at approximately $272,212.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.80% of the company's stock.
A number of institutional investors and hedge funds have recently modified their holdings of BMI. Victory Capital Management Inc. raised its holdings in Badger Meter by 39.6% in the 4th quarter. Victory Capital Management Inc. now owns 28,970 shares of the scientific and technical instruments company's stock valued at $1,881,000 after acquiring an additional 8,218 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Badger Meter by 7.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 223,391 shares of the scientific and technical instruments company's stock valued at $14,505,000 after acquiring an additional 15,034 shares during the last quarter. Barclays PLC raised its holdings in Badger Meter by 12.1% in the 4th quarter. Barclays PLC now owns 46,066 shares of the scientific and technical instruments company's stock valued at $2,991,000 after acquiring an additional 4,971 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Badger Meter by 11.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 58,186 shares of the scientific and technical instruments company's stock valued at $3,778,000 after acquiring an additional 6,159 shares during the last quarter. Finally, Atria Investments LLC acquired a new position in Badger Meter in the 4th quarter valued at $288,000. Institutional investors own 85.21% of the company's stock.
Badger Meter Company Profile
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
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