Badger Meter (BMI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Badger Meter (NYSE:BMI) from a hold rating to a buy rating in a research report released on Thursday morning. The firm currently has $56.00 price target on the scientific and technical instruments company’s stock.

According to Zacks, “Badger Meter is poised to gain from significant rebound in the Flow Instrumentation business driven both by continued improvement in the oil and gas markets, and the impact of sales channel reorganizations. Its focus on acquisition will also drive growth. The D-Flow acquisition will help Badger Meter to further enhance its successful E-Series Ultrasonic product line and lower production costs. Further, the company's focus to implement price increases to offset expected escalation in resin prices due to the impacts of Hurricane Harvey will aid results. The stock has outperformed the broader industry over the past year.”

A number of other research firms have also recently weighed in on BMI. Robert W. Baird restated a hold rating and issued a $44.00 price target on shares of Badger Meter in a research note on Tuesday, October 17th. Stifel Nicolaus restated a hold rating and issued a $43.00 price target (down previously from $49.00) on shares of Badger Meter in a research note on Tuesday, October 17th. Sidoti increased their price target on Badger Meter from $55.00 to $65.00 and gave the company a buy rating in a research note on Thursday, October 5th. Finally, Canaccord Genuity restated a hold rating and issued a $40.00 price target on shares of Badger Meter in a research note on Friday, October 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $51.20.

Shares of Badger Meter (NYSE BMI) opened at $49.85 on Thursday. Badger Meter has a 12 month low of $34.40 and a 12 month high of $52.10. The stock has a market capitalization of $1,451.26, a P/E ratio of 43.73 and a beta of 0.68.

In other Badger Meter news, CFO Richard E. Johnson sold 7,200 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $45.55, for a total transaction of $327,960.00. Following the transaction, the chief financial officer now owns 105,976 shares in the company, valued at approximately $4,827,206.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Fred J. Begale sold 2,000 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $45.60, for a total value of $91,200.00. Following the transaction, the vice president now owns 7,609 shares in the company, valued at approximately $346,970.40. The disclosure for this sale can be found here. 4.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Badger Meter by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,828,174 shares of the scientific and technical instruments company’s stock worth $112,703,000 after buying an additional 33,137 shares during the period. Dimensional Fund Advisors LP increased its position in Badger Meter by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,127,376 shares of the scientific and technical instruments company’s stock worth $44,926,000 after buying an additional 10,712 shares during the period. State Street Corp increased its position in Badger Meter by 4.7% during the 2nd quarter. State Street Corp now owns 715,440 shares of the scientific and technical instruments company’s stock worth $28,513,000 after buying an additional 32,322 shares during the period. UBS Asset Management Americas Inc. increased its position in Badger Meter by 8.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 567,899 shares of the scientific and technical instruments company’s stock worth $22,631,000 after buying an additional 44,702 shares during the period. Finally, Eagle Asset Management Inc. increased its position in Badger Meter by 4.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 442,475 shares of the scientific and technical instruments company’s stock worth $22,322,000 after buying an additional 19,709 shares during the period. Hedge funds and other institutional investors own 83.06% of the company’s stock.

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About Badger Meter

Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.

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