StockNews.com Lowers Badger Meter (NYSE:BMI) to Hold

Badger Meter (NYSE:BMIGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts also recently issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of Badger Meter from $93.00 to $88.00 in a research note on Wednesday. Zacks Investment Research upgraded Badger Meter from a “sell” rating to a “hold” rating and set a $92.00 target price for the company in a report on Thursday. Finally, Maxim Group upgraded Badger Meter from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Monday, January 31st.

Shares of BMI opened at $83.56 on Friday. Badger Meter has a 52-week low of $83.54 and a 52-week high of $112.36. The firm has a 50-day moving average price of $97.22 and a 200 day moving average price of $100.81. The firm has a market capitalization of $2.44 billion, a PE ratio of 40.17 and a beta of 0.76.

Badger Meter (NYSE:BMIGet Rating) last posted its quarterly earnings results on Tuesday, April 19th. The scientific and technical instruments company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The company had revenue of $132.40 million during the quarter, compared to analysts’ expectations of $132.54 million. Badger Meter had a return on equity of 15.75% and a net margin of 12.05%. Badger Meter’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $0.47 earnings per share. As a group, research analysts anticipate that Badger Meter will post 2.21 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in BMI. Exchange Traded Concepts LLC increased its position in shares of Badger Meter by 51.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 354 shares of the scientific and technical instruments company’s stock valued at $38,000 after purchasing an additional 120 shares during the last quarter. CWM LLC raised its position in shares of Badger Meter by 60.6% in the 1st quarter. CWM LLC now owns 355 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 134 shares in the last quarter. BerganKDV Wealth Management LLC bought a new position in shares of Badger Meter in the 3rd quarter worth approximately $40,000. Strs Ohio raised its position in shares of Badger Meter by 150.0% in the 4th quarter. Strs Ohio now owns 500 shares of the scientific and technical instruments company’s stock worth $53,000 after acquiring an additional 300 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in Badger Meter during the 4th quarter valued at approximately $61,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

Badger Meter Company Profile (Get Rating)

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.

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