Sidoti Boosts Badger Meter, Inc. (BMI) Price Target to $65.00
Badger Meter, Inc. (NYSE:BMI) had its price target hoisted by investment analysts at Sidoti from $55.00 to $65.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Sidoti’s price target would suggest a potential upside of 29.35% from the stock’s previous close.
Several other brokerages have also weighed in on BMI. Zacks Investment Research lowered Badger Meter from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 20th. BidaskClub upgraded Badger Meter from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Stifel Nicolaus started coverage on Badger Meter in a research report on Monday, September 18th. They issued a “hold” rating and a $43.00 price objective for the company. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Badger Meter in a research report on Friday, July 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $48.33.
Shares of Badger Meter (BMI) traded down 0.10% during midday trading on Thursday, hitting $50.20. The company had a trading volume of 95,017 shares. Badger Meter has a 12 month low of $29.30 and a 12 month high of $50.90. The company has a 50-day moving average of $46.28 and a 200-day moving average of $41.41. The company has a market capitalization of $1.46 billion, a PE ratio of 42.54 and a beta of 0.56.
Badger Meter (NYSE:BMI) last issued its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $104.17 million during the quarter, compared to analyst estimates of $108.02 million. Badger Meter had a return on equity of 13.19% and a net margin of 8.67%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 earnings per share. Analysts predict that Badger Meter will post $1.28 earnings per share for the current year.
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In other news, VP Kimberly K. Stoll sold 2,830 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $45.01, for a total transaction of $127,378.30. Following the completion of the transaction, the vice president now directly owns 12,223 shares in the company, valued at $550,157.23. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Beverly L. P. Smiley sold 7,550 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $45.26, for a total value of $341,713.00. Following the transaction, the vice president now owns 56,449 shares of the company’s stock, valued at $2,554,881.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,340 shares of company stock valued at $2,859,651. Company insiders own 4.50% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its stake in shares of Badger Meter by 6.5% in the first quarter. Great West Life Assurance Co. Can now owns 39,846 shares of the scientific and technical instruments company’s stock valued at $1,463,000 after acquiring an additional 2,436 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Badger Meter by 13.8% in the first quarter. Bank of New York Mellon Corp now owns 600,691 shares of the scientific and technical instruments company’s stock valued at $22,075,000 after acquiring an additional 72,916 shares in the last quarter. Comerica Bank raised its stake in shares of Badger Meter by 4.0% in the first quarter. Comerica Bank now owns 32,318 shares of the scientific and technical instruments company’s stock valued at $1,314,000 after acquiring an additional 1,239 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Badger Meter by 13.4% in the first quarter. UBS Asset Management Americas Inc. now owns 523,197 shares of the scientific and technical instruments company’s stock valued at $19,227,000 after acquiring an additional 61,675 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Badger Meter in the first quarter valued at $1,126,000. Institutional investors and hedge funds own 83.96% of the company’s stock.
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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