Maxim Group set a $64.00 target price on Badger Meter (NYSE:BMI) in a report released on Friday morning, TipRanks reports. The firm currently has a buy rating on the scientific and technical instruments company’s stock.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised Golub Capital BDC from a hold rating to a buy rating and set a $20.00 price target on the stock in a research report on Tuesday, July 16th. Stifel Nicolaus set a $36.00 price target on IntriCon and gave the stock a buy rating in a research report on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $52.80.
Shares of BMI stock traded up $0.92 during trading hours on Friday, hitting $53.01. 161,912 shares of the company’s stock were exchanged, compared to its average volume of 143,004. The company has a 50-day moving average price of $56.95. The firm has a market cap of $1.54 billion, a PE ratio of 34.42 and a beta of 0.82. Badger Meter has a 52 week low of $46.69 and a 52 week high of $61.57.
Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Thursday, July 18th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.08). The company had revenue of $103.54 million for the quarter, compared to analyst estimates of $117.11 million. Badger Meter had a return on equity of 15.45% and a net margin of 8.57%. The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. On average, equities analysts anticipate that Badger Meter will post 1.6 earnings per share for the current year.
In related news, VP Horst Gras sold 2,083 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $52.29, for a total value of $108,920.07. Following the completion of the sale, the vice president now directly owns 483 shares in the company, valued at approximately $25,256.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard A. Meeusen sold 8,571 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $56.85, for a total value of $487,261.35. Following the completion of the sale, the director now owns 74,582 shares of the company’s stock, valued at $4,239,986.70. The disclosure for this sale can be found here. Insiders have sold a total of 16,180 shares of company stock valued at $900,111 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMI. Norges Bank bought a new stake in Badger Meter in the 4th quarter valued at $19,768,000. Belpointe Asset Management LLC bought a new stake in Badger Meter in the 4th quarter valued at $10,826,000. JPMorgan Chase & Co. boosted its stake in Badger Meter by 622.9% in the 1st quarter. JPMorgan Chase & Co. now owns 135,972 shares of the scientific and technical instruments company’s stock valued at $7,564,000 after purchasing an additional 117,162 shares during the period. Copeland Capital Management LLC boosted its stake in Badger Meter by 21.1% in the 2nd quarter. Copeland Capital Management LLC now owns 570,172 shares of the scientific and technical instruments company’s stock valued at $34,034,000 after purchasing an additional 99,352 shares during the period. Finally, ClariVest Asset Management LLC bought a new stake in Badger Meter in the 1st quarter valued at $1,376,000. Institutional investors and hedge funds own 82.88% of the company’s stock.
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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