Spire (NYSE:SR) Downgraded by StockNews.com to Sell

Spire (NYSE:SR) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other research analysts have also recently commented on SR. Mizuho raised shares of Spire from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $65.00 to $76.00 in a report on Friday, December 20th. LADENBURG THALM/SH SH cut Spire from a “neutral” rating to a “sell” rating and dropped their price target for the company from $65.50 to $60.50 in a research note on Thursday, October 17th. Morgan Stanley lowered their target price on Spire from $77.00 to $75.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Stifel Nicolaus reduced their price target on Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a report on Friday, November 22nd. Finally, Janney Montgomery Scott began coverage on shares of Spire in a research report on Tuesday, December 17th. They set a “neutral” rating and a $73.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $71.50.

Spire Trading Up 0.2 %

Shares of SR opened at $68.56 on Friday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.30 and a current ratio of 0.45. Spire has a 52-week low of $56.36 and a 52-week high of $73.64. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 3.00 and a beta of 0.57. The business’s fifty day moving average is $67.86 and its 200-day moving average is $65.60.

Insider Activity

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

Institutional Investors Weigh In On Spire

Large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in shares of Spire during the third quarter worth approximately $25,000. GAMMA Investing LLC raised its holdings in shares of Spire by 87.2% in the 4th quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 204 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Spire during the 2nd quarter valued at about $31,000. Larson Financial Group LLC increased its holdings in Spire by 1,318.4% during the 3rd quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 501 shares in the last quarter. Finally, Missouri Trust & Investment Co lifted its holdings in shares of Spire by 28.6% in the third quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 200 shares in the last quarter. 87.36% of the stock is currently owned by institutional investors and hedge funds.

About Spire

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.