Badger Meter (NYSE:BMI) Downgraded by Argus to “Hold”

Badger Meter (NYSE:BMI) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Finviz reports.

BMI has been the subject of a number of other reports. Robert W. Baird set a $165.00 price objective on shares of Badger Meter in a report on Thursday. Jefferies Financial Group decreased their price target on Badger Meter from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Badger Meter in a research report on Wednesday, January 21st. Stifel Nicolaus set a $166.00 target price on Badger Meter and gave the stock a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $167.00 target price on shares of Badger Meter in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Badger Meter has a consensus rating of “Hold” and an average price target of $188.89.

Badger Meter Trading Up 1.8%

BMI opened at $147.01 on Monday. Badger Meter has a 12-month low of $139.14 and a 12-month high of $256.08. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 2.33 and a beta of 0.90. The stock has a fifty day simple moving average of $174.76 and a two-hundred day simple moving average of $181.15.

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

Institutional Investors Weigh In On Badger Meter

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. grew its holdings in Badger Meter by 148.3% during the 2nd quarter. Franklin Resources Inc. now owns 48,190 shares of the scientific and technical instruments company’s stock worth $11,804,000 after acquiring an additional 28,779 shares in the last quarter. Truist Financial Corp increased its holdings in Badger Meter by 4.6% during the second quarter. Truist Financial Corp now owns 24,784 shares of the scientific and technical instruments company’s stock valued at $6,071,000 after buying an additional 1,088 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Badger Meter during the second quarter worth $343,000. Commonwealth Equity Services LLC boosted its position in Badger Meter by 13.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 70,488 shares of the scientific and technical instruments company’s stock valued at $12,588,000 after acquiring an additional 8,387 shares in the last quarter. Finally, Boston Trust Walden Corp increased its holdings in shares of Badger Meter by 43.7% in the 3rd quarter. Boston Trust Walden Corp now owns 330,039 shares of the scientific and technical instruments company’s stock valued at $58,938,000 after acquiring an additional 100,298 shares during the period. Hedge funds and other institutional investors own 89.01% of the company’s stock.

Badger Meter Company Profile

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.