Badger Meter (BMI) Gets a Buy Rating from Maxim Group

In a report released yesterday, Tate Sullivan from Maxim Group maintained a Buy rating on Badger Meter (BMIResearch Report), with a price target of $64. The company’s shares closed yesterday at $52.96.

Sullivan wrote:

“We reduce our EPS estimates for 2019 to $1.62 (from $1.65), for 2020 to $1.68 (from $1.71) and for 2021 to $1.95 (from $2.03) on lower revenue forecasts after BMI reported 2Q19 revenue below our forecast (BMI’s share price declined 9% yesterday).”

According to TipRanks.com, Sullivan is a 4-star analyst with an average return of 6.9% and a 63.9% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as Envision Solar International Inc, Capstone Turbine Corp, and BioHiTech Global Inc.

Currently, the analyst consensus on Badger Meter is a Moderate Buy with an average price target of $56.

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The company has a one-year high of $61.57 and a one-year low of $46.70. Currently, Badger Meter has an average volume of 158.8K.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is neutral on the stock.

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Badger Meter, Inc. engages in the provision of flow measurement, control products, and communications solutions that serves water utilities, municipalities, and commercial and industrial customers worldwide. Its products are classified into two categories: Municipal Water and Flow Instrumentation.