Maxim Group Boosts Badger Meter (NYSE:BMI) Price Target to $245.00

Badger Meter (NYSE:BMI) had its price target boosted by stock analysts at Maxim Group from $235.00 to $245.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the scientific and technical instruments company’s stock. Maxim Group’s target price would indicate a potential upside of 12.90% from the company’s previous close.

Several other equities research analysts have also commented on BMI. Stifel Nicolaus boosted their price target on Badger Meter from $208.00 to $209.00 and gave the stock a “hold” rating in a research note on Monday. Robert W. Baird boosted their price objective on shares of Badger Meter from $184.00 to $203.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $218.75.

Badger Meter Price Performance

Badger Meter stock opened at $217.01 on Monday. The stock’s 50 day moving average price is $217.31 and its 200 day moving average price is $211.62. The company has a market cap of $6.38 billion, a PE ratio of 51.30, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. Badger Meter has a 1-year low of $139.50 and a 1-year high of $239.11.

Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Badger Meter had a net margin of 15.12% and a return on equity of 21.77%. On average, equities research analysts anticipate that Badger Meter will post 4.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Badger Meter

Hedge funds have recently modified their holdings of the company. Congress Asset Management Co. raised its holdings in Badger Meter by 23.1% in the 4th quarter. Congress Asset Management Co. now owns 363,164 shares of the scientific and technical instruments company’s stock valued at $77,034,000 after acquiring an additional 68,137 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Badger Meter by 6.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 338,198 shares of the scientific and technical instruments company’s stock worth $73,866,000 after buying an additional 19,848 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Badger Meter by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 335,105 shares of the scientific and technical instruments company’s stock valued at $71,083,000 after acquiring an additional 23,606 shares during the last quarter. KBC Group NV lifted its holdings in shares of Badger Meter by 0.8% during the 3rd quarter. KBC Group NV now owns 331,769 shares of the scientific and technical instruments company’s stock worth $72,462,000 after acquiring an additional 2,515 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Badger Meter by 2.2% in the fourth quarter. Allianz Asset Management GmbH now owns 212,024 shares of the scientific and technical instruments company’s stock worth $44,975,000 after acquiring an additional 4,631 shares during the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

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.