Badger Meter, Inc. (NYSE:BMI) Receives “Hold” Rating from Boenning Scattergood
Badger Meter, Inc. (NYSE:BMI)‘s stock had its “hold” rating reiterated by investment analysts at Boenning Scattergood in a report issued on Friday.
BMI has been the subject of a number of other reports. Zacks Investment Research raised Badger Meter from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Sidoti reissued a “buy” rating and set a $52.00 price target (up from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. BidaskClub lowered Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Canaccord Genuity reissued a “hold” rating and set a $37.00 price target on shares of Badger Meter in a research note on Wednesday, May 24th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $42.00.
Shares of Badger Meter (NYSE:BMI) opened at 41.75 on Friday. The company has a 50-day moving average price of $40.20 and a 200 day moving average price of $38.04. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 36.95 and a beta of 0.54. Badger Meter has a one year low of $29.30 and a one year high of $41.95.
Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $104.17 million during the quarter, compared to analysts’ expectations of $108.02 million. Badger Meter had a return on equity of 13.02% and a net margin of 8.37%. Badger Meter’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 earnings per share. Equities research analysts expect that Badger Meter will post $1.24 earnings per share for the current year.
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In related news, VP Richard E. Johnson sold 28,004 shares of the stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $41.34, for a total transaction of $1,157,685.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard E. Johnson sold 12,736 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $41.26, for a total value of $525,487.36. Following the transaction, the vice president now directly owns 130,704 shares of the company’s stock, valued at $5,392,847.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,908 shares of company stock valued at $4,908,212. 4.50% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its stake in Badger Meter by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,210 shares of the scientific and technical instruments company’s stock valued at $117,000 after buying an additional 60 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in Badger Meter during the first quarter valued at about $135,000. Clean Yield Group bought a new stake in Badger Meter during the first quarter valued at about $153,000. Victory Capital Management Inc. raised its stake in Badger Meter by 33.2% in the first quarter. Victory Capital Management Inc. now owns 4,475 shares of the scientific and technical instruments company’s stock valued at $164,000 after buying an additional 1,116 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in Badger Meter during the fourth quarter valued at about $187,000. 84.29% of the stock is owned by institutional investors and hedge funds.
About Badger Meter
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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