Spire (NYSE:SR) Lowered to "Sell" at LADENBURG THALM/SH SH

Spire (NYSE:SR - Get Free Report) was downgraded by investment analysts at LADENBURG THALM/SH SH from a "neutral" rating to a "sell" rating in a research note issued on Thursday, Marketbeat.com reports. They presently have a $60.50 target price on the utilities provider's stock, down from their prior target price of $65.50. LADENBURG THALM/SH SH's price target would suggest a potential downside of 5.14% from the stock's current price.

Several other analysts have also issued reports on SR. Stifel Nicolaus raised their price target on shares of Spire from $64.00 to $70.00 and gave the stock a "hold" rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their target price on shares of Spire from $72.00 to $73.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price target on Spire from $70.00 to $76.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $66.19.

Spire Stock Performance

NYSE:SR traded down $3.02 during midday trading on Thursday, reaching $63.78. The stock had a trading volume of 1,292,839 shares, compared to its average volume of 418,006. The stock has a market capitalization of $3.68 billion, a P/E ratio of 16.11, a PEG ratio of 2.84 and a beta of 0.52. Spire has a 1-year low of $54.15 and a 1-year high of $68.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.48 and a quick ratio of 0.35. The firm's fifty day simple moving average is $65.53 and its 200-day simple moving average is $62.85.

Spire (NYSE:SR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.04. Spire had a return on equity of 8.10% and a net margin of 9.40%. The company had revenue of $414.10 million for the quarter, compared to the consensus estimate of $313.86 million. During the same period last year, the business posted ($0.42) earnings per share. The firm's revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Spire will post 4.23 EPS for the current fiscal year.

Insider Transactions at Spire

In other news, VP Gerard J. Gorla sold 500 shares of the business's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $64.82, for a total value of $32,410.00. Following the transaction, the vice president now directly owns 7,311 shares of the company's stock, valued at $473,899.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Spire news, Director Maria V. Fogarty sold 6,590 shares of the business's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $65.15, for a total value of $429,338.50. Following the completion of the transaction, the director now directly owns 9,800 shares of the company's stock, valued at approximately $638,470. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Gerard J. Gorla sold 500 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $64.82, for a total transaction of $32,410.00. Following the sale, the vice president now directly owns 7,311 shares in the company, valued at $473,899.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.86% of the stock is owned by insiders.

Hedge Funds Weigh In On Spire

Several large investors have recently made changes to their positions in SR. Assenagon Asset Management S.A. boosted its stake in shares of Spire by 197.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 162,195 shares of the utilities provider's stock valued at $9,850,000 after purchasing an additional 107,662 shares during the last quarter. AQR Capital Management LLC grew its holdings in Spire by 290.9% during the 2nd quarter. AQR Capital Management LLC now owns 130,827 shares of the utilities provider's stock worth $7,877,000 after acquiring an additional 97,358 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in shares of Spire during the 1st quarter valued at $4,488,000. Dimensional Fund Advisors LP raised its position in shares of Spire by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,387 shares of the utilities provider's stock valued at $57,351,000 after acquiring an additional 72,119 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Spire by 11.0% in the 2nd quarter. Victory Capital Management Inc. now owns 698,819 shares of the utilities provider's stock valued at $42,439,000 after purchasing an additional 69,020 shares during the period. Institutional investors and hedge funds own 87.36% of the company's stock.

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.