Spire (SR) Price Target Increased to $77.00 by Analysts at Morgan Stanley
Spire (NYSE:SR) had its price target boosted by research analysts at Morgan Stanley from $75.00 to $77.00 in a report released on Wednesday. The firm presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 0.19% from the stock’s current price.
Several other research analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Spire from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a report on Wednesday, October 4th. J P Morgan Chase & Co lifted their target price on shares of Spire from $71.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 12th. Royal Bank of Canada reiterated a “hold” rating and issued a $73.00 target price on shares of Spire in a report on Monday, October 16th. Stifel Nicolaus lifted their target price on shares of Spire from $71.00 to $75.00 and gave the stock a “hold” rating in a report on Thursday, November 16th. Finally, ValuEngine downgraded shares of Spire from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two research 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 currently has an average rating of “Hold” and a consensus target price of $75.33.
Shares of Spire (NYSE SR) traded down $2.35 during trading hours on Wednesday, reaching $77.15. 146,800 shares of the company were exchanged, compared to its average volume of 186,474. The company has a market capitalization of $3,837.22, a PE ratio of 21.84, a price-to-earnings-growth ratio of 4.01 and a beta of 0.31. Spire has a 1 year low of $62.33 and a 1 year high of $82.85. The company has a quick ratio of 0.46, a current ratio of 0.66 and a debt-to-equity ratio of 1.00.
Spire (NYSE:SR) last posted its quarterly earnings data on Wednesday, November 15th. The utilities provider reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. Spire had a net margin of 9.28% and a return on equity of 8.71%. The firm had revenue of $258.70 million during the quarter, compared to analyst estimates of $271.65 million. During the same quarter last year, the business posted ($0.32) EPS. The company’s revenue was down 7.4% on a year-over-year basis. research analysts predict that Spire will post 3.72 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bruderman Asset Management LLC acquired a new position in shares of Spire in the second quarter valued at approximately $124,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Spire by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,825 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 144 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Spire by 11.2% in the second quarter. Public Employees Retirement System of Ohio now owns 2,070 shares of the utilities provider’s stock valued at $144,000 after purchasing an additional 209 shares during the period. Advisor Group Inc. raised its position in shares of Spire by 30.7% in the second quarter. Advisor Group Inc. now owns 2,147 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 504 shares during the period. Finally, Archford Capital Strategies LLC raised its position in shares of Spire by 66.5% in the second quarter. Archford Capital Strategies LLC now owns 1,807 shares of the utilities provider’s stock valued at $168,000 after purchasing an additional 722 shares during the period. Hedge funds and other institutional investors own 80.14% 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.
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