Kirby Corp. (KEX) Given Average Recommendation of “Hold” by Brokerages
Kirby Corp. (NYSE:KEX) has been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $62.22.
Several equities analysts recently commented on KEX shares. Vetr upgraded shares of Kirby Corp. from a “sell” rating to a “hold” rating and set a $67.34 price target on the stock in a report on Tuesday, June 14th. Credit Suisse Group AG cut shares of Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research report on Tuesday, June 21st. Zacks Investment Research raised shares of Kirby Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Wells Fargo & Co. cut shares of Kirby Corp. from a “market perform” rating to an “underperform” rating and set a $46.00 price objective for the company. in a research report on Monday, July 25th. Finally, Jefferies Group reissued a “buy” rating on shares of Kirby Corp. in a research report on Monday, August 1st.
Shares of Kirby Corp. (NYSE:KEX) traded down 0.75% during trading on Tuesday, hitting $60.55. 168,412 shares of the company’s stock were exchanged. The stock has a market cap of $3.26 billion, a P/E ratio of 17.76 and a beta of 1.12. Kirby Corp. has a one year low of $44.63 and a one year high of $73.25. The firm has a 50-day moving average price of $57.11 and a 200-day moving average price of $61.40.
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Kirby Corp. (NYSE:KEX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The company had revenue of $441.60 million for the quarter, compared to the consensus estimate of $454.12 million. Kirby Corp. had a net margin of 9.63% and a return on equity of 8.02%. The firm’s revenue was down 18.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. Equities research analysts expect that Kirby Corp. will post $2.61 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Atlanta Capital Management Co. L L C raised its position in 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 period. Royce & Associates LP raised its position in 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 during the period. RS Investment Management Co. LLC purchased a new position in Kirby Corp. during the second quarter valued at approximately $52,392,000. Neuberger Berman Group LLC purchased a new position in Kirby Corp. during the second quarter valued at approximately $39,343,000. Finally, Fiduciary Management Inc. WI raised its position in 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 during the period. Hedge funds and other institutional investors own 99.44% of the company’s stock.
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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