Kirby Corp. (KEX) Trading Up 2.4%
Shares of Kirby Corp. (NYSE:KEX) were up 2.4% on Tuesday . The company traded as high as $59.00 and last traded at $58.38, with a volume of 595,107 shares trading hands. The stock had previously closed at $57.00.
A number of analysts have weighed in on KEX shares. Vetr cut Kirby Corp. from a “hold” rating to a “sell” rating and set a $53.00 price target on the stock. in a research report on Monday, August 8th. Wells Fargo & Co. reiterated a “sell” rating on shares of Kirby Corp. in a research report on Tuesday. Zacks Investment Research cut Kirby Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th. Credit Suisse Group AG cut Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research report on Tuesday, June 21st. Finally, RBC Capital Markets upgraded Kirby Corp. from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $68.00 in a research report on Tuesday. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $63.69.
The stock’s 50-day moving average is $54.45 and its 200-day moving average is $61.40. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 17.16 and a beta of 1.11.
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Kirby Corp. (NYSE:KEX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.02. The firm earned $441.60 million during the quarter, compared to analysts’ expectations of $454.12 million. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. The company’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 EPS. On average, equities analysts forecast that Kirby Corp. will post $2.61 EPS for the current year.
A number of institutional investors have recently made changes to their positions in the stock. Atlanta Capital Management Co. L L C boosted its position 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 in the last quarter. Royce & Associates LP boosted its position 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 valued at $63,455,000 after buying an additional 929,400 shares in the last quarter. RS Investment Management Co. LLC bought a new position in shares of Kirby Corp. during the second quarter valued at $52,392,000. Neuberger Berman Group LLC bought a new position in shares of Kirby Corp. during the second quarter valued at $39,343,000. Finally, Fiduciary Management Inc. WI boosted its position 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 valued at $81,397,000 after buying an additional 353,755 shares in the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.
About Kirby Corp.
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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