Badger Meter (NYSE:BMI) Stock Rating Raised to “Buy” at Argus

Badger Meter (NYSE:BMI) was upgraded by analysts at Argus from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Briefing.com reports. The firm currently has a $170.00 price target on the scientific and technical instruments company’s stock. Argus‘s price objective suggests a potential upside of 8.92% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Badger Meter from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Seaport Research Partners reiterated a “buy” rating and set a $175.00 price objective on shares of Badger Meter in a research report on Friday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Badger Meter in a research note on Monday. Robert W. Baird set a $175.00 price objective on Badger Meter in a research note on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on Badger Meter from $172.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $166.33.

Badger Meter Trading Up 3.2%

NYSE:BMI opened at $156.09 on Tuesday. Badger Meter has a 12 month low of $112.09 and a 12 month high of $192.28. The company has a 50-day moving average price of $131.11 and a 200-day moving average price of $139.57. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 3.72 and a beta of 0.64.

Badger Meter (NYSE:BMI) last released its earnings results on Thursday, October 22nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.01. The firm had revenue of $230.30 million during the quarter, compared to analyst estimates of $240.35 million. Badger Meter had a net margin of 14.36% and a return on equity of 18.49%. The business’s revenue was up .1% on a year-over-year basis. During the same period last year, the business earned $1.19 earnings per share. Equities analysts forecast that Badger Meter will post 4.52 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Edward Callahan acquired 751 shares of Badger Meter stock in a transaction on Thursday, July 30th. The shares were bought at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the acquisition, the vice president directly owned 1,937 shares of the company’s stock, valued at $261,979.25. This trade represents a 63.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Badger Meter

A number of large investors have recently bought and sold shares of the business. XXEC Inc. bought a new stake in Badger Meter during the 2nd quarter valued at $825,029,000. BlackRock Inc. purchased a new position in Badger Meter in the second quarter worth $725,926,000. Amundi grew its holdings in Badger Meter by 28.5% in the second quarter. Amundi now owns 590,079 shares of the scientific and technical instruments company’s stock worth $87,595,000 after purchasing an additional 131,016 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Badger Meter by 54.8% during the 1st quarter. First Trust Advisors LP now owns 560,356 shares of the scientific and technical instruments company’s stock valued at $85,370,000 after purchasing an additional 198,430 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Badger Meter by 5.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 540,272 shares of the scientific and technical instruments company’s stock valued at $82,305,000 after purchasing an additional 29,623 shares during the last quarter. Institutional investors own 89.01% of the company’s stock.

Badger Meter Company Profile

Badger Meter, Inc is a water technology company that develops and manufactures flow measurement, control and communications solutions. Its products are used to measure and manage water across municipal, commercial and industrial applications, helping customers improve operational efficiency, monitor usage and support water conservation.

The company’s offerings include mechanical, ultrasonic and electromagnetic flow meters; valves and related flow-control equipment; and smart water technologies.