Badger Meter (BMI) Rating Reiterated by Boenning Scattergood

Boenning Scattergood restated their hold rating on shares of Badger Meter (NYSE:BMI) in a report issued on Wednesday morning. Boenning Scattergood also issued estimates for Badger Meter’s Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.30 EPS, FY2018 earnings at $1.25 EPS, Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.36 EPS, Q4 2019 earnings at $0.30 EPS and FY2019 earnings at $1.40 EPS.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Badger Meter from a hold rating to a buy rating and set a $56.00 price target on the stock in a report on Thursday, January 18th. ValuEngine raised shares of Badger Meter from a hold rating to a buy rating in a research note on Monday, April 2nd. Stifel Nicolaus reaffirmed a hold rating and issued a $51.00 price objective (up previously from $45.00) on shares of Badger Meter in a research note on Tuesday, January 16th. Robert W. Baird upped their price objective on shares of Badger Meter from $45.00 to $48.00 and gave the company a neutral rating in a research note on Wednesday, February 7th. Finally, Canaccord Genuity reaffirmed a sell rating and issued a $42.00 price objective on shares of Badger Meter in a research note on Wednesday, April 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $49.40.

Shares of NYSE:BMI opened at $43.05 on Wednesday. The firm has a market capitalization of $1,225.60, a PE ratio of 36.18, a P/E/G ratio of 1.84 and a beta of 0.61. Badger Meter has a one year low of $37.45 and a one year high of $52.10.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Tuesday, April 17th. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.11). The company had revenue of $105.04 million during the quarter, compared to the consensus estimate of $107.17 million. Badger Meter had a return on equity of 12.11% and a net margin of 8.22%. Badger Meter’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS. equities research analysts expect that Badger Meter will post 1.5 earnings per share for the current fiscal year.

In other Badger Meter news, CEO Richard A. Meeusen sold 6,089 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $49.83, for a total transaction of $303,414.87. Following the completion of the sale, the chief executive officer now owns 147,531 shares of the company’s stock, valued at approximately $7,351,469.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kimberly K. Stoll sold 1,834 shares of the stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $48.78, for a total transaction of $89,462.52. Following the sale, the vice president now directly owns 10,672 shares of the company’s stock, valued at approximately $520,580.16. The disclosure for this sale can be found here. Insiders sold a total of 35,093 shares of company stock valued at $1,734,158 in the last ninety days. 2.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BMI. Ameriprise Financial Inc. boosted its position in Badger Meter by 4.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 160,105 shares of the scientific and technical instruments company’s stock valued at $7,845,000 after buying an additional 6,528 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Badger Meter by 5.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 129,727 shares of the scientific and technical instruments company’s stock valued at $6,357,000 after buying an additional 6,546 shares during the period. California Public Employees Retirement System boosted its position in Badger Meter by 3.1% during the 3rd quarter. California Public Employees Retirement System now owns 83,961 shares of the scientific and technical instruments company’s stock valued at $4,114,000 after buying an additional 2,561 shares during the period. KAMES CAPITAL plc purchased a new stake in Badger Meter during the 4th quarter valued at $2,678,000. Finally, Appleton Group LLC purchased a new stake in Badger Meter during the 4th quarter valued at $203,000. 86.42% of the stock is owned by institutional investors and hedge funds.

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Badger Meter Company Profile

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

Analyst Recommendations for Badger Meter (NYSE:BMI)

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