Kirby (NYSE:KEX) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Kirby (NYSE:KEX) from a buy rating to a hold rating in a research note released on Sunday morning.

Separately, Bank of America raised their target price on shares of Kirby from $138.00 to $141.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $123.80.

Kirby Price Performance

Shares of NYSE KEX opened at $124.76 on Friday. The company has a fifty day moving average price of $118.43 and a 200 day moving average price of $112.86. The firm has a market cap of $7.30 billion, a PE ratio of 29.49, a PEG ratio of 0.71 and a beta of 1.17. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. Kirby has a 1-year low of $72.11 and a 1-year high of $130.90.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The business had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. During the same quarter last year, the firm earned $0.95 EPS. Kirby’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts predict that Kirby will post 5.46 earnings per share for the current fiscal year.

Insider Activity at Kirby

In other news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares of the company’s stock, valued at $668,131.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $126.54, for a total transaction of $361,018.62. Following the transaction, the vice president now owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $110.21, for a total value of $305,281.70. Following the completion of the sale, the chief operating officer now directly owns 16,079 shares of the company’s stock, valued at $1,772,066.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,012 shares of company stock valued at $5,571,267. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Kirby

Several hedge funds and other institutional investors have recently made changes to their positions in KEX. International Assets Investment Management LLC bought a new position in shares of Kirby during the 2nd quarter worth approximately $26,000. ORG Partners LLC purchased a new stake in Kirby in the 2nd quarter worth about $32,000. Opal Wealth Advisors LLC purchased a new stake in Kirby in the 2nd quarter worth about $33,000. Blue Trust Inc. boosted its position in Kirby by 91.0% during the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after purchasing an additional 141 shares during the period. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Kirby in the second quarter worth about $37,000. 96.15% of the stock is owned by institutional investors.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.