Badger Meter (BMI) Price Target Raised to $55.00 at Stifel Nicolaus

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Badger Meter (NYSE:BMI) had its target price lifted by Stifel Nicolaus from $50.00 to $55.00 in a research report report published on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has a hold rating on the scientific and technical instruments company’s stock.

Other research analysts have also issued research reports about the company. Boenning Scattergood reissued a hold rating on shares of Badger Meter in a research report on Tuesday, February 5th. Maxim Group reissued a buy rating and issued a $65.00 target price on shares of Badger Meter in a research report on Monday, January 7th. Zacks Investment Research raised Badger Meter from a hold rating to a buy rating and set a $55.00 target price for the company in a research report on Tuesday, January 8th. Finally, Berenberg Bank raised Badger Meter from a sell rating to a hold rating in a research report on Monday, January 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Badger Meter presently has a consensus rating of Hold and an average price target of $51.17.

Shares of NYSE:BMI opened at $57.77 on Tuesday. Badger Meter has a 52-week low of $41.00 and a 52-week high of $61.57. The company has a market capitalization of $1.67 billion, a PE ratio of 37.17 and a beta of 0.78.

Badger Meter (NYSE:BMI) last announced its earnings results on Tuesday, February 5th. The scientific and technical instruments company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. Badger Meter had a return on equity of 15.39% and a net margin of 6.41%. The firm had revenue of $104.40 million during the quarter, compared to analyst estimates of $103.54 million. During the same quarter in the prior year, the company earned $0.25 EPS. The business’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Badger Meter will post 1.73 earnings per share for the current fiscal year.

In related news, VP Richard E. Johnson sold 5,854 shares of the firm’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $59.15, for a total transaction of $346,264.10. Following the completion of the transaction, the vice president now owns 50,000 shares of the company’s stock, valued at approximately $2,957,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard E. Johnson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $60.74, for a total value of $485,920.00. Following the transaction, the vice president now directly owns 52,000 shares of the company’s stock, valued at approximately $3,158,480. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,705 shares of company stock valued at $2,271,763. 2.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of BMI. BlackRock Inc. increased its position in Badger Meter by 5.3% during the 3rd quarter. BlackRock Inc. now owns 4,241,678 shares of the scientific and technical instruments company’s stock valued at $224,597,000 after buying an additional 213,187 shares in the last quarter. FMR LLC bought a new position in Badger Meter during the 3rd quarter valued at approximately $153,000. Dimensional Fund Advisors LP increased its position in Badger Meter by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,140,117 shares of the scientific and technical instruments company’s stock valued at $60,369,000 after buying an additional 3,011 shares in the last quarter. Allianz Asset Management GmbH increased its position in Badger Meter by 5.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 89,737 shares of the scientific and technical instruments company’s stock valued at $4,752,000 after buying an additional 4,373 shares in the last quarter. Finally, BlueMountain Capital Management LLC bought a new position in Badger Meter during the 3rd quarter valued at approximately $163,000. 85.34% of the stock is owned by institutional investors.

About Badger Meter

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.

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Analyst Recommendations for Badger Meter (NYSE:BMI)

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