Badger Meter (NYSE:BMI – Get Rating) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.
Other research analysts have also recently issued reports about the company. Morgan Stanley reduced their target price on Badger Meter from $95.00 to $80.00 and set an "underweight" rating for the company in a research report on Thursday, June 9th. Northcoast Research started coverage on shares of Badger Meter in a report on Friday, July 15th. They issued a "neutral" rating for the company. TheStreet raised Badger Meter from a "c+" rating to a "b-" rating in a research note on Wednesday, August 3rd. Finally, Stifel Nicolaus cut their price target on Badger Meter from $88.00 to $79.00 in a research note on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $94.67.
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Badger Meter Trading Down 0.9 %
Shares of BMI stock opened at $94.01 on Friday. The firm has a market capitalization of $2.75 billion, a P/E ratio of 42.93 and a beta of 0.86. Badger Meter has a 1 year low of $73.20 and a 1 year high of $112.36. The firm's fifty day simple moving average is $90.41 and its 200 day simple moving average is $89.36.
Badger Meter (NYSE:BMI – Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. Badger Meter had a net
margin of 12.00% and a return on equity of 15.83%. The company had revenue of $137.80 million for the quarter, compared to the consensus estimate of $132.04 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The business's revenue was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that Badger Meter will post 2.3 EPS for the current fiscal year.
Insider Activity at Badger Meter
In related news, VP William R. A. Bergum sold 2,362 shares of the company's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $96.40, for a total value of $227,696.80. Following the transaction, the vice president now owns 11,861 shares in the company, valued at approximately $1,143,400.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.80% of the company's stock.
Institutional Trading of Badger Meter
A number of institutional investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC bought a new stake in Badger Meter during the first quarter worth about $27,000. National Bank of Canada FI acquired a new position in shares of Badger Meter in the 1st quarter valued at approximately $30,000. BerganKDV Wealth Management LLC bought a new stake in shares of Badger Meter during the 2nd quarter worth approximately $32,000. CWM LLC boosted its position in shares of Badger Meter by 60.6% during the 1st quarter. CWM LLC now owns 355 shares of the scientific and technical instruments company's stock worth $35,000 after acquiring an additional 134 shares in the last quarter. Finally, Trust Co. of Vermont bought a new position in Badger Meter in the second quarter valued at approximately $47,000. 86.42% of the stock is currently owned by institutional investors.
Badger Meter Company Profile
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Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.
Further Reading
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