Badger Meter (BMI) Stock Rating Upgraded by Zacks Investment Research

Badger Meter (NYSE:BMI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage presently has a $56.00 price target on the scientific and technical instruments company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.67% from the company’s current price.

According to Zacks, “Badger Meter is poised to gain from significant rebound in the Flow Instrumentation business driven both by continued improvement in the oil and gas markets, and the impact of sales channel reorganizations. Its focus on acquisition will also drive growth. The D-Flow acquisition will help Badger Meter to further enhance its successful E-Series Ultrasonic product line and lower production costs. Further, the company's focus to implement price increases to offset expected escalation in resin prices due to the impacts of Hurricane Harvey will aid results. The stock has outperformed the broader industry over the past year.”

A number of other brokerages have also recently commented on BMI. Stifel Nicolaus restated a “hold” rating and set a $43.00 target price (down previously from $49.00) on shares of Badger Meter in a report on Tuesday, October 17th. Robert W. Baird restated a “hold” rating and set a $44.00 target price on shares of Badger Meter in a report on Tuesday, October 17th. Canaccord Genuity restated a “hold” rating and set a $40.00 target price on shares of Badger Meter in a report on Friday, October 6th. Finally, Sidoti boosted their target price on shares of Badger Meter from $55.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Badger Meter has an average rating of “Hold” and an average price target of $51.20.

Shares of Badger Meter (BMI) traded up $0.85 during mid-day trading on Thursday, hitting $50.15. 193,200 shares of the stock were exchanged, compared to its average volume of 101,018. Badger Meter has a 1 year low of $34.40 and a 1 year high of $52.10. The company has a market cap of $1,435.24, a PE ratio of 43.99 and a beta of 0.68.

Badger Meter (NYSE:BMI) last announced its earnings results on Monday, October 16th. The scientific and technical instruments company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.08). Badger Meter had a net margin of 8.39% and a return on equity of 12.62%. The business had revenue of $100.00 million for the quarter, compared to the consensus estimate of $102.86 million. During the same quarter last year, the firm posted $0.30 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. sell-side analysts forecast that Badger Meter will post 1.18 earnings per share for the current year.

In other news, VP Fred J. Begale sold 2,000 shares of Badger Meter stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $45.60, for a total value of $91,200.00. Following the completion of the transaction, the vice president now owns 7,609 shares of the company’s stock, valued at approximately $346,970.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Richard E. Johnson sold 7,200 shares of Badger Meter stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $45.55, for a total value of $327,960.00. Following the completion of the transaction, the chief financial officer now directly owns 105,976 shares of the company’s stock, valued at approximately $4,827,206.80. The disclosure for this sale can be found here. Insiders own 4.50% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Badger Meter by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,828,174 shares of the scientific and technical instruments company’s stock worth $112,703,000 after purchasing an additional 33,137 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Badger Meter by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,127,376 shares of the scientific and technical instruments company’s stock worth $44,926,000 after purchasing an additional 10,712 shares during the last quarter. State Street Corp raised its position in shares of Badger Meter by 4.7% in the 2nd quarter. State Street Corp now owns 715,440 shares of the scientific and technical instruments company’s stock worth $28,513,000 after purchasing an additional 32,322 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Badger Meter by 8.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 567,899 shares of the scientific and technical instruments company’s stock worth $22,631,000 after purchasing an additional 44,702 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of Badger Meter by 4.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 442,475 shares of the scientific and technical instruments company’s stock worth $22,322,000 after purchasing an additional 19,709 shares during the last quarter. 82.87% of the stock is owned by hedge funds and other institutional investors.

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Badger Meter Company Profile

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

Analyst Recommendations for Badger Meter (NYSE:BMI)

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