Maxim Group analyst Tate Sullivan maintained a Buy rating on Badger Meter (BMI) today and set a price target of $67. The company’s shares opened today at $57.07, close to its 52-week high of $58.58.
Sullivan wrote:
“After reviewing yesterday’s quarterly results, we increase our 2019 EPS to $1.65 (from $1.62), 2020 EPS to $1.71 (from $1.68) and Street-high price target to $67, from $65.”
According to TipRanks.com, Sullivan is a 3-star analyst with an average return of 5.6% and a 64.3% success rate. Sullivan covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Emcor Group, and Tetra Tech.
Currently, the analyst consensus on Badger Meter is a Moderate Buy with an average price target of $56.50.
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Based on Badger Meter’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $11.24 million. In comparison, last year the company had a net profit of $7.23 million.
Based on the recent corporate insider activity of 62 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.
