Spire (NYSE:SR) Rating Lowered to Sell at Wall Street Zen

Key Points

• Spire was downgraded to “sell” by Wall Street Zen from a previous “hold” rating in a recent research note.
• Despite the downgrade, other analysts remain more constructive: the stock still carries a consensus “Moderate Buy” rating with an average price target of $95.44.
• Spire recently beat earnings expectations, reporting $3.76 EPS versus an estimate of $3.72, though revenue of $1.02 billion fell short of forecasts.

Spire (NYSE:SR - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also commented on SR. Weiss Ratings upgraded shares of Spire from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 5th. Jefferies Financial Group reiterated a "buy" rating and issued a $99.00 target price on shares of Spire in a research note on Wednesday, January 21st. TD Cowen began coverage on Spire in a report on Thursday, April 16th. They issued a "hold" rating and a $101.00 target price on the stock. Morgan Stanley restated an "overweight" rating and set a $102.00 price target on shares of Spire in a research report on Tuesday, April 21st. Finally, UBS Group dropped their price target on Spire from $106.00 to $103.00 and set a "buy" rating for the company in a report on Friday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.44.

Spire Stock Performance

Spire stock opened at $85.68 on Friday. The firm has a market capitalization of $5.07 billion, a P/E ratio of 15.06, a P/E/G ratio of 1.40 and a beta of 0.56. The stock has a fifty day moving average price of $91.26 and a two-hundred day moving average price of $87.62. Spire has a 52-week low of $69.94 and a 52-week high of $95.31. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.55 and a quick ratio of 0.45.

Spire (NYSE:SR - Get Free Report) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $3.76 EPS for the quarter, beating the consensus estimate of $3.72 by $0.04. Spire had a net margin of 13.97% and a return on equity of 9.49%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $3.60 EPS. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, analysts anticipate that Spire will post 5.18 EPS for the current fiscal year.

Institutional Trading of Spire

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Community Bank N.A. acquired a new position in Spire during the 3rd quarter valued at about $25,000. Sound Income Strategies LLC acquired a new stake in shares of Spire during the 4th quarter worth approximately $25,000. Optima Capital LLC acquired a new stake in shares of Spire during the 4th quarter worth approximately $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Spire during the fourth quarter worth approximately $25,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Spire by 186.8% in the third quarter. Smartleaf Asset Management LLC now owns 370 shares of the utilities provider's stock valued at $30,000 after buying an additional 241 shares during the period. 87.36% of the stock is currently owned by institutional investors and hedge funds.

Spire Company Profile

Spire Inc NYSE: SR, formerly known as The Laclede Group, is a regulated natural gas distribution company headquartered in St. Louis, Missouri. Through its three operating divisions—Spire Missouri, Spire Alabama and Spire Mississippi—the company delivers natural gas to more than 1.7 million residential, commercial and industrial customers. Spire's service territory spans key markets in the central and southern United States, including metropolitan St. Louis, central Alabama and central Mississippi.

Founded in 1857 as the Laclede Gas Light Company, the business has grown through strategic acquisitions, notably Alabama Gas Corporation in 2013 and Mississippi Gas in 2016.

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