Royal Bank Of Canada Cuts Badger Meter (NYSE:BMI) Price Target to $169.00

Key Points

• Royal Bank of Canada cut its price target for Badger Meter from $197 to $169 while keeping an "outperform" rating, a target that implies roughly a 46.7% upside from the stock's current level.
• Analyst views are mixed—five Buys, five Holds and one Sell—with a consensus rating of "Hold" and a consensus target price of $166.38, broadly aligning with RBC's revised target.
• Shares trade around $115.23 (down 0.3%), giving a $3.36 billion market cap and sitting near their 1‑year low of $112.45, substantially below the analyst targets and the 1‑year high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) had its target price dropped by research analysts at Royal Bank Of Canada from $197.00 to $169.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the scientific and technical instruments company's stock. Royal Bank Of Canada's price objective points to a potential upside of 46.67% from the company's current price.

A number of other equities research analysts have also commented on BMI. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $167.00 price target on shares of Badger Meter in a research report on Thursday, January 29th. Zacks Research upgraded shares of Badger Meter from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. Robert W. Baird cut their price target on shares of Badger Meter from $173.00 to $145.00 and set an "outperform" rating on the stock in a research note on Monday. Jefferies Financial Group reduced their price target on shares of Badger Meter from $220.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Badger Meter from $190.00 to $160.00 and set an "overweight" rating for the company in a research report on Friday. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $166.38.

Badger Meter Trading Down 0.3%

Shares of NYSE:BMI traded down $0.32 during trading on Monday, hitting $115.23. 332,662 shares of the company's stock were exchanged, compared to its average volume of 446,593. The firm has a market cap of $3.36 billion, a P/E ratio of 25.96, a PEG ratio of 1.87 and a beta of 0.90. The firm has a 50-day moving average price of $152.42 and a two-hundred day moving average price of $167.43. Badger Meter has a 1-year low of $112.45 and a 1-year high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last issued its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 EPS for the quarter. The company had revenue of $220.71 million during the quarter. Badger Meter had a net margin of 14.56% and a return on equity of 18.76%. As a group, research analysts predict that Badger Meter will post 4.65 EPS for the current year.

Insider Activity

In other news, EVP Robert Wrocklage acquired 1,650 shares of the firm's stock in a transaction dated Monday, February 9th. The stock was bought at an average price of $152.35 per share, with a total value of $251,377.50. Following the transaction, the executive vice president directly owned 19,541 shares in the company, valued at approximately $2,977,071.35. The trade was a 9.22% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kimberly K. Stoll sold 1,634 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $149.01, for a total transaction of $243,482.34. Following the transaction, the vice president owned 3,256 shares in the company, valued at $485,176.56. This represents a 33.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,989 shares of company stock worth $596,002. Insiders own 1.00% of the company's stock.

Institutional Trading of Badger Meter

Several institutional investors and hedge funds have recently bought and sold shares of BMI. Norges Bank bought a new position in shares of Badger Meter during the 4th quarter worth approximately $83,819,000. UBS Group AG raised its stake in Badger Meter by 89.2% in the 4th quarter. UBS Group AG now owns 712,650 shares of the scientific and technical instruments company's stock valued at $124,293,000 after acquiring an additional 335,953 shares during the period. Bamco Inc. NY acquired a new stake in Badger Meter during the 3rd quarter valued at $45,435,000. Pictet Asset Management Holding SA boosted its position in Badger Meter by 39.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 754,402 shares of the scientific and technical instruments company's stock worth $131,592,000 after purchasing an additional 212,448 shares during the period. Finally, Amundi increased its holdings in shares of Badger Meter by 99.5% in the third quarter. Amundi now owns 401,668 shares of the scientific and technical instruments company's stock valued at $72,203,000 after purchasing an additional 200,330 shares during the last quarter. Institutional investors own 89.01% of the company's stock.

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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