Stifel Nicolaus Issues Positive Forecast for Badger Meter (NYSE:BMI) Stock Price

Badger Meter (NYSE:BMI) had its price target upped by research analysts at Stifel Nicolaus from $203.00 to $208.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the scientific and technical instruments company’s stock. Stifel Nicolaus’ target price indicates a potential downside of 11.99% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Maxim Group raised their price target on shares of Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a report on Friday, October 18th. Robert W. Baird raised their target price on shares of Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $216.00.

Badger Meter Stock Performance

Badger Meter stock opened at $236.34 on Wednesday. Badger Meter has a 1 year low of $139.50 and a 1 year high of $238.06. The firm has a 50 day moving average price of $216.59 and a 200 day moving average price of $204.16. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 2.82 and a beta of 0.79.

Badger Meter (NYSE:BMI) last released its quarterly earnings data on Thursday, October 17th. The scientific and technical instruments company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). Badger Meter had a return on equity of 21.56% and a net margin of 14.80%. The firm had revenue of $208.44 million for the quarter, compared to analyst estimates of $212.08 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Sell-side analysts predict that Badger Meter will post 4.19 EPS for the current year.

Institutional Investors Weigh In On Badger Meter

Several hedge funds and other institutional investors have recently modified their holdings of BMI. Blue Trust Inc. raised its position in shares of Badger Meter by 1,016.7% during the 3rd quarter. Blue Trust Inc. now owns 201 shares of the scientific and technical instruments company’s stock worth $44,000 after purchasing an additional 183 shares during the period. CWM LLC increased its position in Badger Meter by 40.9% in the second quarter. CWM LLC now owns 575 shares of the scientific and technical instruments company’s stock worth $107,000 after buying an additional 167 shares during the period. GAMMA Investing LLC lifted its stake in Badger Meter by 61.3% in the third quarter. GAMMA Investing LLC now owns 805 shares of the scientific and technical instruments company’s stock valued at $176,000 after buying an additional 306 shares during the last quarter. Annex Advisory Services LLC acquired a new position in shares of Badger Meter during the third quarter valued at $204,000. Finally, ORBA Wealth Advisors L.L.C. bought a new position in shares of Badger Meter during the third quarter worth about $207,000. Institutional investors own 89.01% of the company’s stock.

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.