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Why Badger Meter Stock Slumped 5 Percent Today

TheMotleyFool

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Badger Meter (NYSE: BMI) stock slumped 5.6% through 10:25 a.m. ET this morning after receiving a downgrade to sell from investment bank Northcoast.

According to the analyst, Badger Meter stock, which cost more than $155 a share just last night, is likely to lose 23% of its value and fall to $120 per share within a year.

So why exactly did Northcoast downgrade Badger Meter stock? That's hard to say. Although two separate ratings watchers -- StreetInsider and TheFly -- confirm that the downgrade happened, neither reporter gave any further details on Northcoast's reasoning. But I think we can guess.

Source Fool.com

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