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

Several other research analysts have also recently weighed in on the company. Morgan Stanley upped their price objective on Spire from $73.00 to $75.00 and gave the company an “underweight” rating in a report on Friday, September 8th. Royal Bank Of Canada restated a “hold” rating and set a $73.00 price target on shares of Spire in a research note on Monday, October 16th. Stifel Nicolaus restated a “hold” rating and set a $71.00 price target on shares of Spire in a research note on Thursday, August 3rd. J P Morgan Chase & Co upped their price target on Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 12th. Finally, Zacks Investment Research upgraded Spire from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.00.

Shares of Spire (SR) traded down $0.50 during trading on Friday, hitting $81.75. The company had a trading volume of 210,968 shares, compared to its average volume of 158,734. The company has a current ratio of 0.66, a quick ratio of 0.46 and a debt-to-equity ratio of 1.00. Spire has a 1 year low of $62.33 and a 1 year high of $82.40. The stock has a market cap of $3,969.95, a price-to-earnings ratio of 22.60, a PEG ratio of 4.15 and a beta of 0.30.

Spire (NYSE:SR) last posted its quarterly earnings data on Wednesday, November 15th. The utilities provider reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.04. Spire had a return on equity of 8.71% and a net margin of 9.28%. The company had revenue of $258.70 million during the quarter, compared to analyst estimates of $271.65 million. During the same period in the previous year, the business earned ($0.32) EPS. Spire’s quarterly revenue was down 7.4% on a year-over-year basis. sell-side analysts anticipate that Spire will post 3.71 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC acquired a new position in Spire in the third quarter valued at $209,000. Americafirst Capital Management LLC acquired a new stake in shares of Spire during the third quarter worth about $451,000. Sterling Capital Management LLC acquired a new stake in shares of Spire during the third quarter worth about $1,486,000. Neuberger Berman Group LLC acquired a new stake in shares of Spire during the third quarter worth about $219,000. Finally, California Public Employees Retirement System boosted its stake in shares of Spire by 14.8% during the third quarter. California Public Employees Retirement System now owns 105,724 shares of the utilities provider’s stock worth $7,892,000 after buying an additional 13,624 shares during the period. Institutional investors own 80.17% of the company’s stock.

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Spire Company Profile

Spire Inc, formerly The Laclede Group, Inc, is engaged to transform its business and pursue growth by growing its gas utility business through prudent investment in infrastructure upgrades and organic growth initiatives; acquire and integrate gas utilities; modernize its gas assets, and invest in innovation.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Spire (NYSE:SR)

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