Stifel Nicolaus Reaffirms Hold Rating for Kirby Corporation (KEX)
Kirby Corporation (NYSE:KEX)‘s stock had its “hold” rating reiterated by stock analysts at Stifel Nicolaus in a research report issued to clients and investors on Friday. They currently have a $67.00 target price on the shipping company’s stock. Stifel Nicolaus’ target price indicates a potential downside of 0.22% from the company’s previous close.
KEX has been the subject of a number of other reports. Zacks Investment Research cut shares of Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub cut shares of Kirby Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Jefferies Group LLC reissued a “buy” rating and issued a $85.00 price objective on shares of Kirby Corporation in a research note on Monday, October 16th. Finally, Cowen and Company reissued a “hold” rating and issued a $70.00 price objective on shares of Kirby Corporation in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Kirby Corporation currently has an average rating of “Hold” and a consensus price target of $71.43.
Kirby Corporation (KEX) traded down $3.45 on Friday, reaching $67.15. 554,500 shares of the company traded hands, compared to its average volume of 333,387. The company 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 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 posted its 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. 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 earnings per share. Kirby Corporation’s quarterly revenue was up 24.5% on a year-over-year basis. analysts forecast that Kirby Corporation will post 1.97 EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank lifted its holdings in shares of Kirby Corporation by 11.3% in the 2nd quarter. Huntington National Bank now owns 2,453 shares of the shipping company’s stock worth $164,000 after acquiring an additional 249 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Kirby Corporation in the 2nd quarter worth about $204,000. Koch Industries Inc. bought a new stake in shares of Kirby Corporation in the 2nd quarter worth about $216,000. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Kirby Corporation in the 2nd quarter worth about $233,000. Finally, World Asset Management Inc lifted its holdings in Kirby Corporation by 12.7% during the 2nd 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 in the last quarter.
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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