Kirby Corporation (KEX) Given Consensus Rating of “Hold” by Brokerages
Shares of Kirby Corporation (NYSE:KEX) have received a consensus rating of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $70.71.
Several analysts have commented on the stock. BidaskClub downgraded shares of Kirby Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Cowen and Company reissued a “hold” rating and issued a $70.00 target price on shares of Kirby Corporation in a research report on Friday, July 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $69.00 price objective on shares of Kirby Corporation in a report on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of Kirby Corporation in a report on Tuesday, May 30th.
Several hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC raised its stake in shares of Kirby Corporation by 65.9% in the 2nd quarter. Lord Abbett & CO. LLC now owns 788,653 shares of the shipping company’s stock valued at $52,721,000 after buying an additional 313,184 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Kirby Corporation by 5.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 77,268 shares of the shipping company’s stock valued at $5,165,000 after buying an additional 3,958 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Kirby Corporation in the 2nd quarter valued at $216,000. Verition Fund Management LLC acquired a new stake in shares of Kirby Corporation during the 2nd quarter worth about $204,000. Finally, Westwood Holdings Group Inc. increased its position in shares of Kirby Corporation by 43.3% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,375 shares of the shipping company’s stock worth $359,000 after purchasing an additional 1,625 shares in the last quarter.
Kirby Corporation (NYSE:KEX) opened at 64.15 on Friday. The firm has a 50 day moving average of $62.06 and a 200-day moving average of $66.31. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 29.40 and a beta of 1.01. Kirby Corporation has a one year low of $55.11 and a one year high of $74.50.
Kirby Corporation (NYSE:KEX) last announced its quarterly earnings data on Wednesday, July 26th. The shipping company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The firm had revenue of $473.33 million for the quarter, compared to the consensus estimate of $478.85 million. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. Equities research analysts forecast that Kirby Corporation will post $1.95 EPS for the current fiscal year.
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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