Kirby Corporation (NYSE:KEX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Kirby Corporation conducts operations in two business segments: marine transportation and diesel repair. The Company’s marine transportation segment is engaged in the inland transportation of industrial chemicals, petrochemical feedstocks, agricultural chemicals and refined petroleum products by tank barge; and in the offshore transportation of refined petroleum products by tanker and tank barge, and dry-bulk, container and palletized cargoes by barge and break-bulk ship. The Company’s diesel repair segment is engaged in the sale, overhaul and repair of diesel engines and related parts sales. “

A number of other brokerages also recently issued reports on KEX. Jefferies Group LLC reissued a “buy” rating and set a $85.00 price objective on shares of Kirby Corporation in a research report on Tuesday, May 30th. Cowen and Company upped their target price on shares of Kirby Corporation from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. BidaskClub raised shares of Kirby Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Stifel Nicolaus reduced their target price on shares of Kirby Corporation from $71.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, June 15th. Finally, Credit Suisse Group raised shares of Kirby Corporation from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $58.00 to $80.00 in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $66.00.

Shares of Kirby Corporation (NYSE:KEX) traded down 0.84% on Monday, reaching $64.75. 310,398 shares of the company were exchanged. Kirby Corporation has a 12-month low of $50.80 and a 12-month high of $74.50. The company’s 50 day moving average is $66.64 and its 200 day moving average is $68.11. The firm has a market capitalization of $3.50 billion, a PE ratio of 26.70 and a beta of 1.03.

Kirby Corporation (NYSE:KEX) last issued its quarterly earnings data on Wednesday, April 26th. The shipping company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.01. The company had revenue of $491.70 million for the quarter, compared to analysts’ expectations of $423.91 million. Kirby Corporation had a net margin of 7.25% and a return on equity of 5.46%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. Analysts forecast that Kirby Corporation will post $2.05 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of KEX. Norges Bank bought a new position in Kirby Corporation during the fourth quarter valued at about $41,891,000. Teachers Advisors LLC boosted its position in Kirby Corporation by 1,434.7% in the fourth quarter. Teachers Advisors LLC now owns 796,749 shares of the shipping company’s stock valued at $52,984,000 after buying an additional 744,834 shares in the last quarter. Fruth Investment Management boosted its position in Kirby Corporation by 1.7% in the first quarter. Fruth Investment Management now owns 19,004 shares of the shipping company’s stock valued at $1,340,000 after buying an additional 316 shares in the last quarter. Capstone Asset Management Co. boosted its position in Kirby Corporation by 2.6% in the first quarter. Capstone Asset Management Co. now owns 5,899 shares of the shipping company’s stock valued at $416,000 after buying an additional 150 shares in the last quarter. Finally, Lathrop Investment Management Corp bought a new position in Kirby Corporation during the first quarter valued at about $10,078,000.

About Kirby Corporation

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

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Analyst Recommendations for Kirby Corporation (NYSE:KEX)

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