Badger Meter (BMI) Raised to Buy at Zacks Investment Research

Badger Meter (NYSE:BMI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm currently has a $56.00 price target on the scientific and technical instruments company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.13% from the company’s current price.

According to Zacks, “Badger Meter is poised to gain from significant rebound in the Flow Instrumentation business driven both by continued improvement in the oil and gas markets, and the impact of sales channel reorganizations. Its focus on acquisition will also drive growth. The D-Flow acquisition will help Badger Meter to further enhance its successful E-Series Ultrasonic product line and lower production costs. Further, the company's focus to implement price increases to offset expected escalation in resin prices due to the impacts of Hurricane Harvey will aid results. The stock has outperformed the broader industry over the past year.”

BMI has been the subject of several other research reports. Canaccord Genuity reiterated a “hold” rating and issued a $40.00 target price on shares of Badger Meter in a research note on Friday, October 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 target price on shares of Badger Meter in a research note on Thursday, December 14th. Sidoti lifted their target price on shares of Badger Meter from $55.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $44.00 target price on shares of Badger Meter in a research note on Tuesday, October 17th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $51.20.

Badger Meter (NYSE BMI) traded down $0.65 on Thursday, hitting $49.50. 103,932 shares of the stock traded hands, compared to its average volume of 101,258. The stock has a market capitalization of $1,435.24, a P/E ratio of 43.42 and a beta of 0.68. Badger Meter has a 52-week low of $34.40 and a 52-week high of $52.10.

Badger Meter (NYSE:BMI) last posted its earnings results on Monday, October 16th. The scientific and technical instruments company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.08). The business had revenue of $100.00 million during the quarter, compared to analysts’ expectations of $102.86 million. Badger Meter had a return on equity of 12.62% and a net margin of 8.39%. Badger Meter’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. analysts anticipate that Badger Meter will post 1.18 earnings per share for the current year.

In other news, CFO Richard E. Johnson sold 7,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $45.55, for a total value of $327,960.00. Following the completion of the transaction, the chief financial officer now directly owns 105,976 shares in the company, valued at $4,827,206.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Fred J. Begale sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $45.60, for a total transaction of $91,200.00. Following the completion of the transaction, the vice president now owns 7,609 shares of the company’s stock, valued at $346,970.40. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in BMI. Schwab Charles Investment Management Inc. boosted its position in shares of Badger Meter by 5.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 123,181 shares of the scientific and technical instruments company’s stock valued at $4,909,000 after acquiring an additional 6,640 shares during the period. SG Americas Securities LLC bought a new position in shares of Badger Meter in the second quarter valued at approximately $140,000. Legal & General Group Plc boosted its position in shares of Badger Meter by 9.2% in the second quarter. Legal & General Group Plc now owns 56,941 shares of the scientific and technical instruments company’s stock valued at $2,268,000 after acquiring an additional 4,782 shares during the period. Victory Capital Management Inc. boosted its position in shares of Badger Meter by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,264 shares of the scientific and technical instruments company’s stock valued at $210,000 after acquiring an additional 789 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Badger Meter by 6.8% during the second quarter. Principal Financial Group Inc. now owns 275,333 shares of the scientific and technical instruments company’s stock valued at $10,972,000 after purchasing an additional 17,605 shares during the last quarter. Institutional investors own 82.87% of the company’s stock.

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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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