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

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

SR has been the subject of a number of other reports. LADENBURG THALM/SH SH downgraded shares of Spire from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $65.50 to $60.50 in a report on Thursday, October 17th. Morgan Stanley lowered their target price on shares of Spire from $77.00 to $75.00 and set an “equal weight” rating for the company in a research note 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 research note on Friday, November 22nd. Wells Fargo & Company raised their price objective on Spire from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, November 21st. Finally, UBS Group upped their target price on Spire from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Spire has a consensus rating of “Hold” and a consensus target price of $69.93.

Spire Price Performance

Shares of NYSE:SR opened at $73.19 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. The business’s fifty day moving average price is $66.49 and its two-hundred day moving average price is $64.25. The stock has a market cap of $4.23 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 3.24 and a beta of 0.52. Spire has a one year low of $56.36 and a one year high of $73.64.

Hedge Funds Weigh In On Spire

Hedge funds and other institutional investors have recently modified their holdings of the company. Manning & Napier Advisors LLC acquired a new position in shares of Spire during the 2nd quarter valued at $2,233,000. Janney Montgomery Scott LLC acquired a new position in shares of Spire during the third quarter worth about $787,000. Assenagon Asset Management S.A. boosted its position in shares of Spire by 197.4% in the second quarter. Assenagon Asset Management S.A. now owns 162,195 shares of the utilities provider’s stock worth $9,850,000 after buying an additional 107,662 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Spire by 116.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 28,025 shares of the utilities provider’s stock valued at $1,886,000 after buying an additional 15,060 shares in the last quarter. Finally, Cynosure Group LLC purchased a new stake in shares of Spire during the 3rd quarter valued at about $4,067,000. 87.36% of the stock is owned by institutional investors and hedge funds.

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.