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

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

Several other equities analysts have also commented on SR. LADENBURG THALM/SH SH lowered shares of Spire from a “neutral” rating to a “sell” rating and decreased their target price for the company from $65.50 to $60.50 in a report on Thursday, October 17th. UBS Group lifted their price objective on shares of Spire from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Bank of America began coverage on shares of Spire in a research report on Friday, December 13th. They set a “neutral” rating and a $70.00 price objective for the company. Stifel Nicolaus reduced their target price on Spire from $70.00 to $69.00 and set a “hold” rating on the stock in a report on Friday, November 22nd. Finally, Mizuho raised Spire from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $65.00 to $76.00 in a research note on Friday, December 20th. 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 company. According to MarketBeat, Spire presently has a consensus rating of “Hold” and a consensus target price of $71.50.

Spire Price Performance

Shares of SR traded up $0.16 during trading hours on Friday, hitting $68.56. 302,295 shares of the company were exchanged, compared to its average volume of 397,747. The company has a quick ratio of 0.30, a current ratio of 0.45 and a debt-to-equity ratio of 1.24. Spire has a fifty-two week low of $56.36 and a fifty-two week high of $73.64. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 3.00 and a beta of 0.57. The firm’s fifty day moving average is $67.86 and its 200 day moving average is $65.60.

Insider Activity

In other Spire news, Treasurer Adam W. Woodard sold 1,150 shares of Spire stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $67.47, for a total transaction of $77,590.50. Following the transaction, the treasurer now directly owns 2,587 shares of the company’s stock, valued at approximately $174,544.89. The trade was a 30.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul D. Koonce acquired 1,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were bought at an average price of $73.61 per share, with a total value of $73,610.00. Following the completion of the transaction, the director now directly owns 2,425 shares of the company’s stock, valued at $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. 2.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SR. Meeder Asset Management Inc. bought a new position in Spire during the third quarter worth $25,000. GAMMA Investing LLC raised its holdings in shares of Spire by 87.2% during the fourth quarter. GAMMA Investing LLC now owns 438 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 204 shares during the period. International Assets Investment Management LLC bought a new position in shares of Spire during the 2nd quarter worth about $31,000. Larson Financial Group LLC grew its stake in shares of Spire by 1,318.4% in the 3rd quarter. Larson Financial Group LLC now owns 539 shares of the utilities provider’s stock valued at $36,000 after buying an additional 501 shares during the period. Finally, Missouri Trust & Investment Co increased its position in Spire by 28.6% in the 3rd quarter. Missouri Trust & Investment Co now owns 900 shares of the utilities provider’s stock valued at $61,000 after buying an additional 200 shares in the last quarter. 87.36% of the stock is 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.