BMI stock forecast, quote, news & analysis

Key Takeaways

• Badger Meter shares climbed roughly 12.4% over the last 30 days, from a closing price near $126.53 on September 28 to about $142.20 in late-October trading.
• The advance was driven primarily by third-quarter 2026 results reported on October 22, which featured margin expansion and earnings growth even as revenue was roughly flat.
• Gross margin expanded 120 basis points to 41.9%, and operating margin rose 60 basis points to 20.2%, reflecting a favorable shift toward ultrasonic meters and software revenue.
• Diluted earnings per share increased 4% to $1.24, modestly ahead of analyst consensus, while total sales of $235.9 million were in line with the prior-year period.
• Management guided to both sequential and year-over-year base sales growth in the fourth quarter despite fewer operating days, reinforcing near-term momentum.
• Over the last quarter, the stock has gained about 5.7%, recovering from a sharp late-July selloff that followed second-quarter results.
• For additional data, explore Badger Meter's Price Targets, Earnings, and Forecast pages.
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Badger Meter (BMI) Company Overview and Market Position

Badger Meter, Inc. is a Milwaukee, Wisconsin-based provider of flow measurement, water quality, and control solutions for utility and industrial customers worldwide. Marketed under the BlueEdge brand, its portfolio spans mechanical and ultrasonic water meters, flow instrumentation for industrial processes, water quality monitoring equipment, and communication technologies such as the ORION family of radio endpoints. The company also sells a growing base of software-as-a-service offerings, including advanced metering analytics and customer engagement tools, and in 2026 introduced the OneNetwork platform for real-time network monitoring and analysis.

Badger Meter is a leader in the North American municipal water metering market and competes on product innovation, a differentiated software ecosystem, and a 34-year track record of consecutive annual dividend increases. Investors follow the stock for its exposure to long-term utility infrastructure spending, water-scarcity themes, and its expanding recurring software revenue, which carries higher margins than hardware sales.

Badger Meter (BMI) Stock Price Performance: Last 30 Days vs. Quarter

Over the last 30 days, Badger Meter shares advanced approximately 12.4%. The stock closed near $126.53 on September 28 and traded around $142.20 in late October, with the bulk of the move occurring after the company's October 22 earnings release. The rally accelerated through the following sessions, pushing the stock sharply higher on above-average volume.

Looking at the last quarter, the trajectory was more uneven. The shares began the period near $134.58 in late July and have since gained roughly 5.7%. That three-month span included a steep late-July decline following second-quarter results, followed by a choppy sideways recovery through September, and then the sharp October rebound on improved third-quarter profitability.

What Drove BMI Stock Price in the Last 30 Days

The primary catalyst was Badger Meter's third-quarter 2026 earnings report on October 22. Total sales of $235.9 million were essentially flat year over year, and base sales, excluding the UD Live acquisition, declined 2% year over year while rising 5% sequentially. Investors, however, focused on profitability: gross margin expanded 120 basis points to 41.9%, operating margin improved 60 basis points to 20.2%, and diluted EPS rose 4% to $1.24 from $1.19 a year earlier, slightly above consensus expectations.

The margin strength reflected a favorable mix shift toward higher-margin ultrasonic meters and continued software growth, which helped offset electronic component cost pressures tied to AI and data-center demand. Management also guided to sequential and year-over-year base sales growth in the fourth quarter despite roughly 5% fewer operating days, reinforcing the view that awarded utility projects are ramping. Analyst activity added further support, with RBC raising its price target on the shares and maintaining an Outperform rating.

What Drove BMI Stock Performance Over the Last Quarter

The broader quarter was defined by a sharp reset followed by a steady recovery. In late July, the stock fell about 13% in a single session after second-quarter results disappointed, as project timing and softer short-cycle demand weighed on revenue. Through August and September, the shares traded in a relatively narrow range as investors awaited clearer signs that previously awarded utility projects were ramping.

The October earnings release marked the inflection point. Sequential base sales growth of 5%, robust gross margins, and confident fourth-quarter commentary signaled that demand had stabilized and that the company's structural mix improvements were intact. Capital returns also supported sentiment, including a 10% dividend increase announced in August and $55 million in share repurchases during the quarter.

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BMI Stock Forecast Drivers: What Investors Should Watch Next

Investors should monitor several factors in the months ahead. The pace at which awarded utility projects ramp and convert to revenue will be central, given management's expectation for sequential and year-over-year base sales growth in the fourth quarter. Gross margin durability will also be in focus, particularly as electronic component cost and availability pressures from AI and data-center build-outs persist.

Additional catalysts include further adoption of the OneNetwork software platform, continued growth in flow instrumentation tied to data-center cooling and water applications, and the integration of the UD Live acquisition. Macroeconomic conditions affecting municipal capital budgets and utility spending, as well as any updates to full-year organic sales expectations, will also influence the stock's direction. These considerations are informational and do not constitute investment advice.

Disclaimer

The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.

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