StockNews.com Downgrades Spire (NYSE:SR) to Sell

Spire (NYSE:SR) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

A number of other research analysts have also recently issued reports on SR. Janney Montgomery Scott began coverage on Spire in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $73.00 target price for the company. LADENBURG THALM/SH SH lowered Spire from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $65.50 to $60.50 in a research report on Thursday, October 17th. Stifel Nicolaus dropped their target price on shares of Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a report on Friday, November 22nd. Mizuho upgraded shares of Spire from a “neutral” rating to an “outperform” rating and upped their price target for the company from $65.00 to $76.00 in a report on Friday, December 20th. Finally, Bank of America began coverage on shares of Spire in a report on Friday, December 13th. They set a “neutral” rating and a $70.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $71.50.

Spire Stock Up 0.2 %

Shares of NYSE SR opened at $68.56 on Friday. Spire has a 52-week low of $56.36 and a 52-week high of $73.64. The stock has a market cap of $3.96 billion, a P/E ratio of 15.91, a P/E/G ratio of 3.00 and a beta of 0.57. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.30 and a current ratio of 0.45. The firm has a 50 day moving average price of $67.86 and a 200 day moving average price of $65.60.

Insider Transactions at Spire

In related news, Treasurer Adam W. Woodard sold 1,150 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $67.47, for a total value of $77,590.50. Following the completion of the sale, the treasurer now directly owns 2,587 shares in the company, valued at approximately $174,544.89. This trade represents a 30.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul D. Koonce purchased 1,000 shares of the stock in a transaction on Monday, December 2nd. The shares were acquired at an average cost of $73.61 per share, for a total transaction of $73,610.00. Following the transaction, the director now owns 2,425 shares of the company’s stock, valued at approximately $178,504.25. The trade was a 70.18 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Spire

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in Spire in the 2nd quarter valued at about $31,000. Van ECK Associates Corp raised its position in shares of Spire by 12.8% in the second quarter. Van ECK Associates Corp now owns 13,857 shares of the utilities provider’s stock valued at $842,000 after buying an additional 1,568 shares in the last quarter. Rhumbline Advisers grew its position in Spire by 4.0% during the second quarter. Rhumbline Advisers now owns 207,639 shares of the utilities provider’s stock worth $12,610,000 after buying an additional 7,936 shares in the last quarter. Victory Capital Management Inc. increased its stake in Spire by 11.0% during the 2nd quarter. Victory Capital Management Inc. now owns 698,819 shares of the utilities provider’s stock worth $42,439,000 after acquiring an additional 69,020 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of Spire by 5.2% during the 2nd quarter. Arizona State Retirement System now owns 15,391 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 762 shares during the period. Institutional investors and hedge funds own 87.36% of the company’s stock.

Spire Company Profile

Spire Inc, together with its subsidiaries, engages in the purchase, retail distribution, and sale of natural gas to residential, commercial, industrial, and other end-users of natural gas in the United States. The company operates through three segments: Gas Utility, Gas Marketing, and Midstream. It is also involved in the marketing of natural gas and related services; and transportation and storage of natural gas.