Kirby (NYSE:KEX) Reaches New 52-Week High – Should You Buy?

Shares of Kirby Co. (NYSE:KEX) reached a new 52-week high during trading on Monday . The company traded as high as $131.36 and last traded at $130.99, with a volume of 94199 shares traded. The stock had previously closed at $127.29.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on KEX shares. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. Bank of America upped their target price on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05. The stock has a market cap of $7.44 billion, a PE ratio of 24.66, a PEG ratio of 0.77 and a beta of 1.17. The company’s fifty day moving average is $121.93 and its 200-day moving average is $119.53.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a return on equity of 9.49% and a net margin of 9.37%. Kirby’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. On average, analysts predict that Kirby Co. will post 5.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Kirby

In related news, VP Amy D. Husted sold 2,853 shares of Kirby 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 transaction, the vice president now owns 5,280 shares in the company, valued at $668,131.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Amy D. Husted sold 2,853 shares of Kirby 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 sale, the vice president now directly owns 5,280 shares in the company, valued at approximately $668,131.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Ronald A. Dragg sold 2,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the transaction, the vice president now owns 7,683 shares in the company, valued at approximately $978,045.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,596 shares of company stock valued at $7,515,760. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Kirby

Institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of Kirby during the 3rd quarter worth approximately $42,000. Advantage Alpha Capital Partners LP boosted its position in shares of Kirby by 51.2% during the 3rd quarter. Advantage Alpha Capital Partners LP now owns 48,693 shares of the shipping company’s stock valued at $5,961,000 after acquiring an additional 16,497 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Kirby by 96.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 8,816 shares of the shipping company’s stock valued at $1,079,000 after purchasing an additional 4,331 shares during the period. Algert Global LLC raised its stake in Kirby by 32.7% during the third quarter. Algert Global LLC now owns 92,527 shares of the shipping company’s stock worth $11,328,000 after purchasing an additional 22,778 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of Kirby by 68.6% in the 3rd quarter. Cerity Partners LLC now owns 8,152 shares of the shipping company’s stock valued at $998,000 after buying an additional 3,317 shares during the period. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Kirby Company Profile

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.