Insider Selling: Kirby Co. (KEX) Insider Sells 1,735 Shares of Stock

Kirby Co. (NYSE:KEX) insider Dorman Lynn Strahan sold 1,735 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $76.51, for a total value of $132,744.85. Following the completion of the transaction, the insider now directly owns 28,484 shares of the company’s stock, valued at approximately $2,179,310.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Kirby Co. (NYSE:KEX) traded down $1.23 during trading hours on Friday, reaching $71.67. The company’s stock had a trading volume of 101,896 shares, compared to its average volume of 533,981. Kirby Co. has a 52 week low of $59.25 and a 52 week high of $80.90. The company has a current ratio of 1.93, a quick ratio of 1.23 and a debt-to-equity ratio of 0.36. The stock has a market cap of $4,330.00, a price-to-earnings ratio of 34.55, a P/E/G ratio of 2.19 and a beta of 1.03.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, January 31st. The shipping company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Kirby had a return on equity of 4.37% and a net margin of 14.14%. The company had revenue of $708.10 million during the quarter, compared to analyst estimates of $612.61 million. During the same period in the previous year, the business earned $0.60 EPS. Kirby’s quarterly revenue was up 62.5% on a year-over-year basis. analysts anticipate that Kirby Co. will post 2.79 earnings per share for the current year.

A number of equities analysts recently weighed in on KEX shares. Zacks Investment Research cut Kirby from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Gabelli started coverage on Kirby in a report on Tuesday, January 16th. They issued a “hold” rating and a $80.00 price target for the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $67.00 price target on shares of Kirby in a report on Friday, November 3rd. Stephens set a $89.00 price target on Kirby and gave the stock a “hold” rating in a report on Monday. Finally, Bank of America upped their price target on Kirby from $66.00 to $69.00 and gave the stock an “underperform” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Kirby currently has a consensus rating of “Hold” and an average price target of $79.40.

Several hedge funds have recently bought and sold shares of KEX. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Kirby by 79.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock valued at $127,000 after acquiring an additional 857 shares in the last quarter. Advisory Services Network LLC grew its stake in Kirby by 4,295.2% in the 4th quarter. Advisory Services Network LLC now owns 2,725 shares of the shipping company’s stock worth $182,000 after acquiring an additional 2,663 shares during the period. Verition Fund Management LLC purchased a new stake in Kirby in the 2nd quarter worth approximately $204,000. State of Alaska Department of Revenue purchased a new stake in Kirby in the 4th quarter worth approximately $207,000. Finally, Trust Co purchased a new stake in Kirby in the 3rd quarter worth approximately $208,000. Institutional investors and hedge funds own 96.21% of the company’s stock.

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Kirby 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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