Boenning Scattergood restated their hold rating on shares of Badger Meter (NYSE:BMI) in a research note issued to investors on Tuesday morning. Boenning Scattergood also issued estimates for Badger Meter’s Q4 2019 earnings at $0.37 EPS and FY2019 earnings at $1.68 EPS.

BMI has been the topic of several other reports. Zacks Investment Research raised shares of Badger Meter from a hold rating to a strong-buy rating and set a $58.00 target price on the stock in a research report on Thursday, December 20th. Berenberg Bank raised shares of Badger Meter from a sell rating to a hold rating in a research report on Monday, January 7th. Maxim Group set a $65.00 target price on shares of Badger Meter and gave the stock a buy rating in a research report on Tuesday, January 29th. Finally, Stifel Nicolaus raised their target price on shares of Badger Meter from $49.00 to $50.00 and gave the stock a hold rating in a research report on Monday, October 8th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $50.33.

BMI opened at $59.39 on Tuesday. Badger Meter has a 1 year low of $41.00 and a 1 year high of $59.74. The company has a market capitalization of $1.73 billion, a P/E ratio of 38.56, a P/E/G ratio of 3.67 and a beta of 0.79.

Badger Meter (NYSE:BMI) last released its earnings results on Tuesday, February 5th. The scientific and technical instruments company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02. Badger Meter had a net margin of 6.41% and a return on equity of 15.39%. The business had revenue of $104.40 million for the quarter, compared to analysts’ expectations of $103.54 million. During the same period last year, the company earned $0.25 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts anticipate that Badger Meter will post 1.77 EPS for the current fiscal year.

In other Badger Meter news, VP Beverly L. P. Smiley sold 4,000 shares of Badger Meter stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $54.42, for a total transaction of $217,680.00. Following the transaction, the vice president now directly owns 48,516 shares of the company’s stock, valued at $2,640,240.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Beverly L. P. Smiley sold 3,302 shares of Badger Meter stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $53.53, for a total transaction of $176,756.06. Following the transaction, the vice president now directly owns 53,156 shares in the company, valued at $2,845,440.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,552 shares of company stock worth $514,969. 2.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Intercontinental Wealth Advisors LLC acquired a new position in Badger Meter during the fourth quarter valued at approximately $28,000. Clean Yield Group acquired a new position in Badger Meter during the fourth quarter valued at approximately $59,000. Quantamental Technologies LLC acquired a new position in Badger Meter during the fourth quarter valued at approximately $61,000. ETF Managers Group LLC lifted its position in Badger Meter by 17.3% during the fourth quarter. ETF Managers Group LLC now owns 2,770 shares of the scientific and technical instruments company’s stock valued at $136,000 after buying an additional 408 shares in the last quarter. Finally, FMR LLC acquired a new position in Badger Meter during the third quarter valued at approximately $153,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Badger Meter Company Profile

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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