JPMorgan Chase & Co. Lowers Badger Meter (NYSE:BMI) Price Target to $160.00

Badger Meter (NYSE:BMIGet Free Report) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $190.00 to $160.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the scientific and technical instruments company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 38.22% from the company’s previous close.

Several other brokerages also recently weighed in on BMI. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. Barclays set a $136.00 target price on shares of Badger Meter and gave the company an “underweight” rating in a report on Thursday, January 29th. Stifel Nicolaus set a $174.00 target price on shares of Badger Meter and gave the company a “buy” rating in a report on Tuesday. Argus downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Jefferies Financial Group lowered their target price on shares of Badger Meter from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $180.13.

Check Out Our Latest Research Report on Badger Meter

Badger Meter Stock Down 24.0%

Shares of NYSE:BMI opened at $115.76 on Friday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.47 and a beta of 0.90. The firm’s 50-day simple moving average is $152.42 and its 200-day simple moving average is $167.49. Badger Meter has a fifty-two week low of $115.11 and a fifty-two week high of $256.08.

Badger Meter (NYSE:BMIGet Free Report) last issued its earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 earnings per share for the quarter. The business had revenue of $220.71 million for the quarter. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. On average, research analysts forecast that Badger Meter will post 4.65 EPS for the current year.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, VP Kimberly K. Stoll sold 1,634 shares of Badger Meter stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $149.01, for a total transaction of $243,482.34. Following the completion of the transaction, the vice president owned 3,256 shares in the company, valued at approximately $485,176.56. The trade was a 33.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Fred J. Begale sold 2,064 shares of Badger Meter stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $150.00, for a total transaction of $309,600.00. Following the transaction, the vice president owned 3,040 shares of the company’s stock, valued at approximately $456,000. The trade was a 40.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,989 shares of company stock worth $596,002. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Badger Meter

A number of institutional investors have recently bought and sold shares of the stock. Values First Advisors Inc. grew its holdings in Badger Meter by 1.3% in the first quarter. Values First Advisors Inc. now owns 7,216 shares of the scientific and technical instruments company’s stock valued at $1,099,000 after purchasing an additional 91 shares during the period. Hsbc Holdings PLC raised its holdings in Badger Meter by 41.1% in the fourth quarter. Hsbc Holdings PLC now owns 24,934 shares of the scientific and technical instruments company’s stock valued at $4,399,000 after acquiring an additional 7,259 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in Badger Meter by 50.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 212,285 shares of the scientific and technical instruments company’s stock valued at $37,025,000 after acquiring an additional 71,195 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Badger Meter by 212.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 266 shares of the scientific and technical instruments company’s stock valued at $46,000 after acquiring an additional 181 shares in the last quarter. Finally, Clearwave Capital LLC acquired a new stake in Badger Meter in the fourth quarter valued at $271,000. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

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About Badger Meter

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Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.

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