Kirby Corp. (KEX) Stock Rating Upgraded by RBC Capital Markets
Kirby Corp. (NYSE:KEX) was upgraded by equities researchers at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $68.00 target price on the stock, up from their previous target price of $55.00. RBC Capital Markets’ target price points to a potential upside of 16.26% from the company’s previous close.
KEX has been the topic of several other research reports. Zacks Investment Research cut shares of Kirby Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 7th. Vetr cut shares of Kirby Corp. from a “hold” rating to a “sell” rating and set a $67.34 target price on the stock. in a report on Tuesday, June 7th. Credit Suisse Group AG cut shares of Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 target price on the stock. in a report on Tuesday, June 21st. Finally, Wells Fargo & Co. cut shares of Kirby Corp. from a “market perform” rating to an “underperform” rating and set a $46.00 target price on the stock. in a report on Monday, July 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $63.69.
Kirby Corp. (NYSE:KEX) traded up 2.61% on Tuesday, hitting $58.49. 1,002,047 shares of the stock were exchanged. Kirby Corp. has a 12 month low of $44.63 and a 12 month high of $73.25. The firm has a market cap of $3.15 billion, a P/E ratio of 17.16 and a beta of 1.11. The company has a 50-day moving average of $54.59 and a 200 day moving average of $61.37.
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Kirby Corp. (NYSE:KEX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.02. Kirby Corp. had a net margin of 9.63% and a return on equity of 8.02%. The firm had revenue of $441.60 million for the quarter, compared to analysts’ expectations of $454.12 million. During the same quarter in the prior year, the company posted $1.04 earnings per share. The business’s revenue for the quarter was down 18.7% on a year-over-year basis. Equities research analysts expect that Kirby Corp. will post $2.61 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Atlanta Capital Management Co. L L C increased its stake in shares of Kirby Corp. by 49.7% in the first quarter. Atlanta Capital Management Co. L L C now owns 3,286,493 shares of the company’s stock valued at $198,143,000 after buying an additional 1,091,721 shares during the last quarter. Royce & Associates LP increased its stake in shares of Kirby Corp. by 755.0% in the first quarter. Royce & Associates LP now owns 1,052,500 shares of the company’s stock worth $63,455,000 after buying an additional 929,400 shares in the last quarter. RS Investment Management Co. LLC bought a new stake in shares of Kirby Corp. during the second quarter worth about $52,392,000. Neuberger Berman Group LLC bought a new stake in shares of Kirby Corp. during the second quarter worth about $39,343,000. Finally, Fiduciary Management Inc. WI increased its stake in shares of Kirby Corp. by 35.5% in the first quarter. Fiduciary Management Inc. WI now owns 1,350,087 shares of the company’s stock worth $81,397,000 after buying an additional 353,755 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.
Kirby Corp. Company Profile
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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