In a report released today, Tate Sullivan from Maxim Group maintained a Buy rating on Badger Meter (BMI), with a price target of $65. The company’s shares closed yesterday at $51.91.
Sullivan wrote:
“We are decreasing our 4Q18 EPS to $0.32, from $0.39, ahead of the earnings report on February 5th to account for water meter order delays and a sequential decline in oil and Middle East meter sales.”
According to TipRanks.com, Sullivan is a 3-star analyst with an average return of 1.6% and a 57.1% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Emcor Group, and Tetra Tech.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Badger Meter with a $55.50 average price target.
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Based on Badger Meter’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $2.85 million. In comparison, last year the company had a net profit of $7.23 million.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative 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.
