Badger Meter (BMI) Earns “Hold” Rating from Stifel Nicolaus
Stifel Nicolaus reaffirmed their hold rating on shares of Badger Meter (NYSE:BMI) in a research note released on Tuesday morning, MarketBeat.com reports. They currently have a $51.00 price objective on the scientific and technical instruments company’s stock, up from their previous price objective of $45.00.
Several other equities research analysts have also commented on the company. Canaccord Genuity reissued a hold rating and set a $40.00 price target on shares of Badger Meter in a research note on Friday, October 6th. Zacks Investment Research lowered Badger Meter from a strong-buy rating to a hold rating in a research note on Wednesday, September 20th. Sidoti upped their target price on Badger Meter from $55.00 to $65.00 and gave the company a buy rating in a research note on Thursday, October 5th. Finally, Robert W. Baird reaffirmed a hold rating and issued a $44.00 target price on shares of Badger Meter in a research note on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $51.20.
Shares of Badger Meter (NYSE:BMI) traded up $0.35 during trading hours on Tuesday, hitting $49.85. The stock had a trading volume of 118,487 shares, compared to its average volume of 79,909. The stock has a market cap of $1,441.06, a price-to-earnings ratio of 43.73 and a beta of 0.68. Badger Meter has a fifty-two week low of $34.40 and a fifty-two week high of $52.10.
A number of institutional investors and hedge funds have recently modified their holdings of BMI. KAMES CAPITAL plc acquired a new position in Badger Meter in the 4th quarter valued at $2,678,000. WINTON GROUP Ltd acquired a new position in Badger Meter in the 3rd quarter valued at $2,305,000. UBS Asset Management Americas Inc. raised its holdings in 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 valued at $22,631,000 after acquiring an additional 44,702 shares during the last quarter. Vanguard Group Inc. raised its holdings in 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 valued at $112,703,000 after acquiring an additional 33,137 shares during the last quarter. Finally, State Street Corp raised its holdings in 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 valued at $28,513,000 after acquiring an additional 32,322 shares during the last quarter. Institutional investors own 82.87% of the company’s stock.
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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.
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