Stifel Nicolaus Forecasts Strong Price Appreciation for Badger Meter (NYSE:BMI) Stock

Badger Meter (NYSE:BMI) had its price objective raised by investment analysts at Stifel Nicolaus from $230.00 to $233.00 in a research report issued on Monday, MarketBeat Ratings reports. The brokerage presently has a “hold” rating on the scientific and technical instruments company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 13.46% from the stock’s previous close.

Several other brokerages have also recently issued reports on BMI. Royal Bank Of Canada boosted their price target on Badger Meter from $238.00 to $252.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Argus set a $240.00 price target on Badger Meter in a report on Thursday, April 24th. Raymond James Financial began coverage on shares of Badger Meter in a research report on Tuesday, June 3rd. They issued a “market perform” rating on the stock. Finally, Robert W. Baird dropped their target price on shares of Badger Meter from $218.00 to $216.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $237.20.

Badger Meter Stock Performance

Badger Meter stock traded down $39.86 during midday trading on Monday, reaching $205.36. 1,335,128 shares of the company were exchanged, compared to its average volume of 219,414. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 45.23, a P/E/G ratio of 3.49 and a beta of 0.83. The firm’s 50-day simple moving average is $244.39 and its 200-day simple moving average is $219.90. Badger Meter has a 1 year low of $162.17 and a 1 year high of $256.08.

Badger Meter (NYSE:BMI) last released its quarterly earnings results on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.02). Badger Meter had a return on equity of 22.35% and a net margin of 15.74%. The business had revenue of $238.10 million during the quarter, compared to the consensus estimate of $235.38 million. During the same period in the previous year, the company posted $1.12 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, analysts forecast that Badger Meter will post 4.65 EPS for the current fiscal year.

Hedge Funds Weigh In On Badger Meter

Institutional investors and hedge funds have recently made changes to their positions in the stock. Evergreen Capital Management LLC raised its holdings in Badger Meter by 1.8% in the fourth quarter. Evergreen Capital Management LLC now owns 2,780 shares of the scientific and technical instruments company’s stock valued at $590,000 after buying an additional 48 shares during the period. Values First Advisors Inc. boosted its holdings in Badger Meter by 0.6% in the first quarter. Values First Advisors Inc. now owns 8,739 shares of the scientific and technical instruments company’s stock worth $1,663,000 after purchasing an additional 53 shares during the period. Norway Savings Bank boosted its holdings in Badger Meter by 2.1% in the second quarter. Norway Savings Bank now owns 2,775 shares of the scientific and technical instruments company’s stock worth $680,000 after purchasing an additional 57 shares during the period. Choreo LLC boosted its holdings in shares of Badger Meter by 4.6% during the first quarter. Choreo LLC now owns 1,361 shares of the scientific and technical instruments company’s stock valued at $259,000 after acquiring an additional 60 shares during the period. Finally, Parallel Advisors LLC boosted its holdings in shares of Badger Meter by 6.1% during the second quarter. Parallel Advisors LLC now owns 1,039 shares of the scientific and technical instruments company’s stock valued at $255,000 after acquiring an additional 60 shares during the period. 89.01% of the stock is 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.