Kirby Corporation Target of Unusually High Options Trading (KEX)
Kirby Corporation (NYSE:KEX) was the target of some unusual options trading on Wednesday. Traders acquired 1,311 call options on the stock. This represents an increase of approximately Infinity compared to the average volume of 0 call options.
Institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank boosted its holdings in shares of Kirby Corporation by 11.3% in the second quarter. Huntington National Bank now owns 2,453 shares of the shipping company’s stock valued at $164,000 after buying an additional 249 shares during the period. Verition Fund Management LLC acquired a new position in shares of Kirby Corporation in the second quarter valued at approximately $204,000. Koch Industries Inc. acquired a new position in shares of Kirby Corporation in the second quarter valued at approximately $216,000. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Kirby Corporation in the second quarter valued at approximately $233,000. Finally, World Asset Management Inc boosted its holdings in shares of Kirby Corporation by 12.7% in the second quarter. World Asset Management Inc now owns 3,718 shares of the shipping company’s stock valued at $249,000 after buying an additional 418 shares during the period.
Several research firms have weighed in on KEX. Stifel Nicolaus reiterated a “hold” rating and set a $67.00 price target on shares of Kirby Corporation in a research note on Friday. Jefferies Group LLC reiterated a “buy” rating and set a $85.00 price target on shares of Kirby Corporation in a research note on Monday, October 16th. Zacks Investment Research upgraded Kirby Corporation from a “hold” rating to a “strong-buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, July 26th. BidaskClub downgraded Kirby Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Finally, Cowen and Company reiterated a “hold” rating and set a $70.00 price target on shares of Kirby Corporation in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $71.43.
Shares of Kirby Corporation (KEX) opened at $67.15 on Friday. The company has a market capitalization of $3.60 billion, a P/E ratio of 31.61, a PEG ratio of 4.22 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.77 and a debt-to-equity ratio of 0.24.
Kirby Corporation (NYSE:KEX) last released its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.08. The company had revenue of $541.30 million during the quarter, compared to analysts’ expectations of $517.54 million. Kirby Corporation had a net margin of 5.88% and a return on equity of 4.68%. The business’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.59 earnings per share. analysts forecast that Kirby Corporation will post 1.97 earnings per share for the current fiscal year.
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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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