JPMorgan Chase & Co. Cuts Badger Meter (NYSE:BMI) Price Target to $190.00

Badger Meter (NYSE:BMIGet Free Report) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $232.00 to $190.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the scientific and technical instruments company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 31.64% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $167.00 price target on shares of Badger Meter 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. Robert W. Baird set a $165.00 price target on Badger Meter in a research report on Thursday. Royal Bank Of Canada restated an “outperform” rating and set a $191.00 price objective (down from $229.00) on shares of Badger Meter in a research note on Thursday. Finally, Stifel Nicolaus set a $166.00 price objective on shares of Badger Meter and gave the stock a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $188.89.

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Badger Meter Stock Performance

Shares of BMI stock traded down $1.99 during trading hours on Thursday, hitting $144.33. 841,003 shares of the company were exchanged, compared to its average volume of 397,459. The company has a 50 day simple moving average of $175.85 and a two-hundred day simple moving average of $182.87. The firm has a market cap of $4.25 billion, a P/E ratio of 30.71, a P/E/G ratio of 2.49 and a beta of 0.91. Badger Meter has a fifty-two week low of $139.14 and a fifty-two week high of $256.08.

Badger Meter (NYSE:BMIGet Free Report) last issued its earnings results on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.01). Badger Meter had a net margin of 15.40% and a return on equity of 21.12%. The firm had revenue of $220.71 million during the quarter, compared to analyst estimates of $232.30 million. During the same quarter in the prior year, the business earned $1.04 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts expect that Badger Meter will post 4.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA lifted its holdings in shares of Badger Meter by 39.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 754,402 shares of the scientific and technical instruments company’s stock worth $131,592,000 after acquiring an additional 212,448 shares during the last quarter. UBS Group AG lifted its stake in Badger Meter by 89.2% during the fourth quarter. UBS Group AG now owns 712,650 shares of the scientific and technical instruments company’s stock worth $124,293,000 after purchasing an additional 335,953 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Badger Meter by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 3,979,893 shares of the scientific and technical instruments company’s stock worth $694,133,000 after purchasing an additional 19,585 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Badger Meter during the 4th quarter valued at about $294,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Badger Meter during the 4th quarter valued at about $25,000. Institutional investors own 89.01% of the company’s stock.

Badger Meter News Summary

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Badger Meter Company Profile

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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.

Further Reading

Analyst Recommendations for Badger Meter (NYSE:BMI)

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