Badger Meter stock broke out of a flat base and rose to an all-time high Tuesday, amid strong double-digit earnings and revenue growth. It's the no. 1 ranked stock in its industry group. Additionally, Badger Meter stock got an IBD Relative Strength (RS) Rating hike from 80 to 85 Tuesday.
The upgraded 85 RS Rating shows that Badger Meter tops 85% of all stocks for price performance over the past year. It's a notable distinction because market research reveals that the best-performing stocks typically have an RS Rating over 80 as they launch their biggest climbs.
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Badger Meter Stock No. 1 In its Industry Group
Milwaukee-based Badger Meter makes "smart" water meters that enable more accurate water use and monitoring. Its products include ultrasonic flow meters, as well as water quality and control products. It markets its products to utilities, municipalities and industries worldwide.
Badger Meter earns the No. 1 rank among its peers in the Machinery-General Industrial industry group. SPX Technologies and Taylor Devices are also among the group's highest-rated stocks.
It's a small-cap stock, a group that recently rotated into favor on the stock market. The Russell 2000 index of small-cap stocks is up about 11% just in the last month.
Badger Meter showed 47% EPS growth last quarter, to $1.12. The prior three quarters its EPS grew 44%, 40% and 50%. Revenue grew 23% in the most recent stanza to $216.7 million. That came on the heels of gains of 26%, 24% and 23%.
Hits All-Time High In Lighter Than Ideal Volume
Badger Meter rose above a flat base buy point of 202.81 Tuesday although volume was still light in afternoon trading. Ideally IBD Methodology investors would like to see a stock break out in volume at least 40% higher than normal. Tuesday afternoon, Badger Meter stock traded at about 205, up 2% ally after hitting an all-time high at 206.07.
The unique IBD Relative Strength Rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
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