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Badger Meter (NYSE:BMI)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Friday, reports. They currently have a $54.00 price objective on the stock. Zacks‘ target price would suggest a potential upside of 5.22% from the company’s current price.

Zacks‘ analyst wrote, “We are reiterating our Neutral recommendation on Badger Meter with a target price of $54.00. In fourth-quarter 2013, Badger Meter reported record earnings of $0.44 per share, up 12.8% year over year. Badger Meter will continue to benefit from investment in research and development as well as the introduction of several new products. Introduction of E-Series ultrasonic meters with a polymer version and BEACON Advanced Metering Analytics system will help to meet growing customer needs. However, higher construction costs, labor shortage and adverse effects of sequestration may affect the performance of Badger Meter, going forward.”

Shares of Badger Meter (NYSE:BMI) traded down 0.08% during mid-day trading on Friday, hitting $51.28. The stock had a trading volume of 45,349 shares. Badger Meter has a one year low of $41.88 and a one year high of $56.36. The stock’s 50-day moving average is $52.87 and its 200-day moving average is $50.23. The company has a market cap of $737.3 million and a price-to-earnings ratio of 31.12.

Badger Meter (NYSE:BMI) last announced its earnings results on Thursday, February 6th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.01. The company had revenue of $81.01 million for the quarter, compared to the consensus estimate of $80.66 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts predict that Badger Meter will post $2.20 earnings per share for the current fiscal year.

A number of other firms have also recently commented on BMI. Analysts at Canaccord Genuity raised their price target on shares of Badger Meter from $50.00 to $52.00 in a research note to investors on Friday. Analysts at Ladenburg Thalmann initiated coverage on shares of Badger Meter in a research note to investors on Monday, January 13th. They set a “neutral” rating and a $50.00 price target on the stock.

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement and control technologies serving markets globally.

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