Badger Meter (NYSE:BMI) Rating Lowered to Hold at Argus

Badger Meter (NYSE:BMI) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a report released on Monday, Marketbeat Ratings reports.

A number of other research analysts have also recently issued reports on the company. Barclays set a $136.00 price objective on Badger Meter and gave the company an “underweight” rating in a report on Thursday, January 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $191.00 target price (down previously from $229.00) on shares of Badger Meter in a research report on Thursday, January 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Badger Meter in a report on Wednesday, January 21st. Stifel Nicolaus set a $166.00 price objective on shares of Badger Meter and gave the stock a “buy” rating in a research note on Thursday, January 29th. Finally, Robert W. Baird set a $165.00 price objective on shares of Badger Meter in a report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Badger Meter currently has a consensus rating of “Hold” and an average target price of $181.88.

Badger Meter Trading Down 3.2%

NYSE BMI opened at $147.02 on Monday. The stock’s 50 day moving average is $173.52 and its two-hundred day moving average is $179.80. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 2.39 and a beta of 0.90. Badger Meter has a 1-year low of $139.14 and a 1-year high of $256.08.

Badger Meter (NYSE:BMI) last issued its earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The company had revenue of $220.71 million during the quarter, compared to analyst estimates of $232.30 million. Badger Meter had a return on equity of 20.71% and a net margin of 15.45%.The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.04 earnings per share. On average, analysts predict that Badger Meter will post 4.65 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Badger Meter in the 2nd quarter valued at $83,548,000. UBS Group AG lifted its stake in shares of Badger Meter by 89.2% during the fourth quarter. UBS Group AG now owns 712,650 shares of the scientific and technical instruments company’s stock valued at $124,293,000 after acquiring an additional 335,953 shares during the period. Westfield Capital Management Co. LP boosted its holdings in Badger Meter by 78.1% in the second quarter. Westfield Capital Management Co. LP now owns 612,809 shares of the scientific and technical instruments company’s stock valued at $150,108,000 after acquiring an additional 268,799 shares during the last quarter. Bamco Inc. NY bought a new position in Badger Meter in the third quarter valued at about $45,435,000. Finally, Pictet Asset Management Holding SA increased its position in Badger Meter by 39.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 754,402 shares of the scientific and technical instruments company’s stock worth $131,592,000 after purchasing an additional 212,448 shares during the period. Institutional investors own 89.01% of the company’s stock.

About Badger Meter

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.