Stifel Nicolaus Raises Badger Meter (NYSE:BMI) Price Target to $78.00

Badger Meter (NYSE:BMI) had its price objective increased by Stifel Nicolaus from $71.00 to $78.00 in a report published on Monday morning, AnalystRatings.net reports. They currently have a hold rating on the scientific and technical instruments company’s stock.

A number of other equities research analysts have also weighed in on BMI. Zacks Investment Research upgraded Badger Meter from a strong sell rating to a hold rating and set a $66.00 price objective on the stock in a research report on Tuesday, September 15th. Argus began coverage on Badger Meter in a research report on Tuesday, June 30th. They issued a buy rating and a $71.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $64.17.

Shares of Badger Meter stock opened at $75.44 on Monday. The stock has a market capitalization of $2.20 billion, a P/E ratio of 45.17 and a beta of 0.75. Badger Meter has a one year low of $41.50 and a one year high of $82.90. The business’s 50 day simple moving average is $66.75 and its two-hundred day simple moving average is $62.69.

Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Friday, October 16th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.13. The firm had revenue of $113.60 million for the quarter, compared to analyst estimates of $101.19 million. Badger Meter had a return on equity of 13.93% and a net margin of 11.15%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. As a group, sell-side analysts forecast that Badger Meter will post 1.54 earnings per share for the current year.

In other Badger Meter news, VP Fred J. Begale sold 1,500 shares of Badger Meter stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $63.66, for a total transaction of $95,490.00. Following the completion of the transaction, the vice president now owns 2,750 shares in the company, valued at $175,065. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kimberly K. Stoll sold 2,308 shares of Badger Meter stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $61.00, for a total value of $140,788.00. Following the transaction, the vice president now owns 6,546 shares of the company’s stock, valued at approximately $399,306. The disclosure for this sale can be found here. Insiders have sold 6,224 shares of company stock worth $419,314 over the last 90 days. 0.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC raised its stake in Badger Meter by 4.2% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,028,610 shares of the scientific and technical instruments company’s stock valued at $64,720,000 after buying an additional 41,586 shares during the last quarter. State Street Corp raised its stake in shares of Badger Meter by 7.7% in the first quarter. State Street Corp now owns 988,982 shares of the scientific and technical instruments company’s stock worth $53,009,000 after purchasing an additional 71,028 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Badger Meter by 10.9% in the first quarter. Geode Capital Management LLC now owns 461,307 shares of the scientific and technical instruments company’s stock worth $24,725,000 after purchasing an additional 45,245 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Badger Meter by 0.9% in the second quarter. Rockefeller Capital Management L.P. now owns 383,130 shares of the scientific and technical instruments company’s stock worth $24,106,000 after purchasing an additional 3,517 shares during the last quarter. Finally, Boston Trust Walden Corp raised its stake in shares of Badger Meter by 10.1% in the second quarter. Boston Trust Walden Corp now owns 306,414 shares of the scientific and technical instruments company’s stock worth $19,279,000 after purchasing an additional 28,220 shares during the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.

About Badger Meter

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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Analyst Recommendations for Badger Meter (NYSE:BMI)

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