Stifel Nicolaus Forecasts Strong Price Appreciation for Badger Meter (NYSE:BMI) Stock

Badger Meter (NYSE:BMI) had its price objective lifted by analysts at Stifel Nicolaus from $203.00 to $208.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the scientific and technical instruments company’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 11.99% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Maxim Group raised their price objective on shares of Badger Meter from $216.00 to $235.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Robert W. Baird upped their price objective on shares of Badger Meter from $184.00 to $203.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Badger Meter has a consensus rating of “Hold” and an average target price of $216.00.

Badger Meter Stock Performance

Shares of BMI stock opened at $236.34 on Wednesday. The firm has a market capitalization of $6.95 billion, a PE ratio of 58.24, a price-to-earnings-growth ratio of 2.82 and a beta of 0.79. Badger Meter has a 1 year low of $139.50 and a 1 year high of $238.06. The stock has a fifty day moving average of $216.59 and a two-hundred day moving average of $204.16.

Badger Meter (NYSE:BMI) last announced its earnings results on Thursday, October 17th. The scientific and technical instruments company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). Badger Meter had a net margin of 14.80% and a return on equity of 21.56%. The company had revenue of $208.44 million during the quarter, compared to the consensus estimate of $212.08 million. During the same quarter in the prior year, the company earned $0.88 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Equities research analysts predict that Badger Meter will post 4.19 earnings per share for the current fiscal year.

Institutional Trading of Badger Meter

Several large investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in shares of Badger Meter by 14.2% during the third quarter. Franklin Resources Inc. now owns 18,317 shares of the scientific and technical instruments company’s stock valued at $4,126,000 after purchasing an additional 2,276 shares during the period. Synovus Financial Corp boosted its position in shares of Badger Meter by 4.6% during the 3rd quarter. Synovus Financial Corp now owns 2,211 shares of the scientific and technical instruments company’s stock valued at $483,000 after acquiring an additional 98 shares in the last quarter. Tidal Investments LLC lifted its stake in Badger Meter by 9.0% during the third quarter. Tidal Investments LLC now owns 8,750 shares of the scientific and technical instruments company’s stock worth $1,911,000 after purchasing an additional 726 shares during the period. Barclays PLC grew its stake in shares of Badger Meter by 348.5% in the 3rd quarter. Barclays PLC now owns 55,090 shares of the scientific and technical instruments company’s stock valued at $12,034,000 after purchasing an additional 42,806 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Badger Meter by 636.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 950 shares of the scientific and technical instruments company’s stock worth $207,000 after buying an additional 821 shares in the last quarter. Institutional investors own 89.01% of the company’s stock.

Badger Meter Company Profile

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.