Investors Buy High Volume of Put Options on Kirby Corporation (KEX)
Kirby Corporation (NYSE:KEX) was the recipient of some unusual options trading on Wednesday. Investors purchased 1,017 put options on the company. This represents an increase of approximately Infinity compared to the typical daily volume of 0 put options.
A number of hedge funds and other institutional investors have recently modified their holdings of KEX. UBS Asset Management Americas Inc. lifted its position in Kirby Corporation by 16.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 30,690 shares of the shipping company’s stock valued at $2,165,000 after acquiring an additional 4,303 shares during the period. Prudential Financial Inc. increased its stake in Kirby Corporation by 6.7% during the 1st quarter. Prudential Financial Inc. now owns 33,300 shares of the shipping company’s stock valued at $2,349,000 after purchasing an additional 2,100 shares in the last quarter. FMR LLC increased its stake in Kirby Corporation by 4.4% during the 1st quarter. FMR LLC now owns 14,300 shares of the shipping company’s stock valued at $1,009,000 after purchasing an additional 600 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Kirby Corporation by 198.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,769 shares of the shipping company’s stock valued at $689,000 after purchasing an additional 6,497 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Kirby Corporation by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 4,159,390 shares of the shipping company’s stock valued at $293,445,000 after purchasing an additional 208,693 shares in the last quarter.
Shares of Kirby Corporation (NYSE:KEX) opened at $67.15 on Friday. The stock has a market capitalization of $3.60 billion, a PE ratio of 31.61, a PEG ratio of 4.22 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.24.
Kirby Corporation (NYSE:KEX) last issued its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.08. Kirby Corporation had a net margin of 5.88% and a return on equity of 4.68%. The company had revenue of $541.30 million during the quarter, compared to analysts’ expectations of $517.54 million. During the same period last year, the company posted $0.59 EPS. Kirby Corporation’s revenue was up 24.5% on a year-over-year basis. research analysts anticipate that Kirby Corporation will post 1.97 EPS for the current year.
A number of research analysts have recently issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and set a $67.00 target price on shares of Kirby Corporation in a research report on Friday. Jefferies Group LLC reiterated a “buy” rating and set a $85.00 target price on shares of Kirby Corporation in a research report on Monday, October 16th. BidaskClub lowered Kirby Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered Kirby Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Cowen and Company restated a “hold” rating and issued a $70.00 price objective on shares of Kirby Corporation in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $71.43.
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Kirby Corporation Company Profile
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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