Barclays Issues Pessimistic Forecast for Badger Meter (NYSE:BMI) Stock Price

Badger Meter (NYSE:BMI) had its price objective dropped by equities researchers at Barclays from $110.00 to $109.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the scientific and technical instruments company’s stock. Barclays‘s price objective would suggest a potential downside of 24.36% from the stock’s current price.

A number of other research analysts have also recently weighed in on BMI. Royal Bank Of Canada reiterated an “outperform” rating on shares of Badger Meter in a research note on Thursday, May 21st. Wall Street Zen downgraded Badger Meter from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Robert W. Baird reduced their price objective on Badger Meter from $173.00 to $145.00 and set an “outperform” rating for the company in a report on Monday, April 20th. Weiss Ratings downgraded Badger Meter from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Finally, Stifel Nicolaus set a $140.00 target price on Badger Meter in a research note on Friday, May 22nd. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $155.71.

Badger Meter Price Performance

Shares of Badger Meter stock opened at $144.10 on Monday. The company’s 50 day moving average price is $130.24 and its two-hundred day moving average price is $146.49. The firm has a market capitalization of $4.21 billion, a P/E ratio of 32.53, a P/E/G ratio of 2.58 and a beta of 0.64. Badger Meter has a fifty-two week low of $112.09 and a fifty-two week high of $249.56.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Tuesday, February 17th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter. The company had revenue of $220.71 million during the quarter. Badger Meter had a net margin of 14.56% and a return on equity of 18.76%. On average, analysts expect that Badger Meter will post 4.51 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Kenneth Bockhorst purchased 2,200 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were bought at an average cost of $117.53 per share, for a total transaction of $258,566.00. Following the completion of the purchase, the chief executive officer directly owned 51,676 shares of the company’s stock, valued at approximately $6,073,480.28. This trade represents a 4.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert Wrocklage purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were bought at an average price of $122.35 per share, for a total transaction of $122,350.00. Following the completion of the purchase, the executive vice president directly owned 23,321 shares in the company, valued at $2,853,324.35. This represents a 4.48% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 6,628 shares of company stock worth $777,128. 1.00% of the stock is owned by company insiders.

Institutional Trading of Badger Meter

A number of hedge funds have recently added to or reduced their stakes in BMI. N.E.W. Advisory Services LLC acquired a new stake in shares of Badger Meter during the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Badger Meter by 76.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 150 shares of the scientific and technical instruments company’s stock valued at $26,000 after acquiring an additional 65 shares during the period. Godfrey Financial Associates Inc. acquired a new position in shares of Badger Meter during the fourth quarter valued at $27,000. Brown Brothers Harriman & Co. grew its position in shares of Badger Meter by 62.3% during the third quarter. Brown Brothers Harriman & Co. now owns 185 shares of the scientific and technical instruments company’s stock worth $33,000 after acquiring an additional 71 shares during the last quarter. Finally, Strategic Advocates LLC bought a new position in shares of Badger Meter during the third quarter worth about $41,000. 89.01% of the stock is owned by institutional investors and hedge funds.

About Badger Meter

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.