Royal Bank Of Canada Has Lowered Expectations for Badger Meter (NYSE:BMI) Stock Price

Badger Meter (NYSE:BMI - Free Report) had its price objective decreased by Royal Bank Of Canada from $284.00 to $264.00 in a research note released on Wednesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the scientific and technical instruments company's stock.

Other analysts have also issued research reports about the stock. Raymond James Financial initiated coverage on shares of Badger Meter in a research note on Tuesday, June 3rd. They issued a "market perform" rating on the stock. Stifel Nicolaus set a $233.00 price target on shares of Badger Meter and gave the company a "hold" rating in a research report on Monday, July 21st. Robert W. Baird raised their price target on shares of Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Argus set a $240.00 target price on shares of Badger Meter in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Badger Meter has an average rating of "Hold" and an average target price of $238.40.

Badger Meter Trading Up 1.8%

Shares of NYSE BMI traded up $3.36 during midday trading on Wednesday, reaching $193.18. The company had a trading volume of 501,751 shares, compared to its average volume of 346,615. The business's 50-day simple moving average is $240.42 and its 200 day simple moving average is $219.32. The stock has a market cap of $5.69 billion, a P/E ratio of 42.09, a P/E/G ratio of 3.25 and a beta of 0.83. Badger Meter has a 1 year low of $162.17 and a 1 year high of $256.08.

Badger Meter (NYSE:BMI - Get Free Report) last released 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). The business had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%. The firm's revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. Analysts predict that Badger Meter will post 4.65 earnings per share for the current year.

Institutional Investors Weigh In On Badger Meter

A number of institutional investors have recently made changes to their positions in BMI. Aster Capital Management DIFC Ltd acquired a new stake in shares of Badger Meter during the fourth quarter valued at about $25,000. Bessemer Group Inc. grew its holdings in shares of Badger Meter by 162.5% in the fourth quarter. Bessemer Group Inc. now owns 147 shares of the scientific and technical instruments company's stock valued at $31,000 after purchasing an additional 91 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Badger Meter by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 184 shares of the scientific and technical instruments company's stock valued at $35,000 after purchasing an additional 92 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Badger Meter by 83.0% in the first quarter. SBI Securities Co. Ltd. now owns 194 shares of the scientific and technical instruments company's stock valued at $37,000 after purchasing an additional 88 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Badger Meter in the first quarter valued at approximately $37,000. 89.01% of the stock is currently owned by institutional investors and hedge funds.

About Badger Meter

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.