Kirby (NYSE:KEX) Sets New 1-Year High After Analyst Upgrade

Shares of Kirby Co. (NYSE:KEX) hit a new 52-week high during mid-day trading on Wednesday after Stifel Nicolaus raised their price target on the stock from $131.00 to $132.00. Stifel Nicolaus currently has a buy rating on the stock. Kirby traded as high as $122.78 and last traded at $122.20, with a volume of 214463 shares. The stock had previously closed at $121.74.

A number of other equities research analysts also recently commented on KEX. Stephens reiterated an “overweight” rating and set a $105.00 price objective on shares of Kirby in a research report on Monday, February 5th. BTIG Research increased their target price on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Finally, Wolfe Research initiated coverage on Kirby in a report on Monday, April 22nd. They issued an “outperform” rating and a $126.00 target price for the company. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $119.50.

Insider Buying and Selling

In related news, VP Scott P. Miller sold 487 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $99.78, for a total transaction of $48,592.86. Following the completion of the sale, the vice president now directly owns 1,000 shares in the company, valued at $99,780. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Scott P. Miller sold 487 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $99.78, for a total transaction of $48,592.86. Following the completion of the sale, the vice president now directly owns 1,000 shares in the company, valued at $99,780. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dorman Lynn Strahan sold 3,423 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $95.11, for a total transaction of $325,561.53. Following the transaction, the insider now directly owns 21,054 shares in the company, valued at $2,002,445.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,649 shares of company stock worth $3,604,686. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kirby

Several hedge funds have recently bought and sold shares of the business. 1832 Asset Management L.P. grew its position in shares of Kirby by 56.1% in the first quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 143 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Kirby in the first quarter valued at about $45,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Kirby in the fourth quarter valued at about $53,000. Fifth Third Bancorp lifted its stake in shares of Kirby by 28.1% in the first quarter. Fifth Third Bancorp now owns 551 shares of the shipping company’s stock valued at $53,000 after buying an additional 121 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Kirby in the fourth quarter valued at about $58,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Trading Up 0.3 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.81 and a quick ratio of 1.12. The company’s 50 day moving average is $102.26 and its two-hundred day moving average is $87.95. The firm has a market cap of $7.15 billion, a P/E ratio of 28.88, a PEG ratio of 1.87 and a beta of 1.14.

Kirby (NYSE:KEX) last released its earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.22. Kirby had a net margin of 8.01% and a return on equity of 7.96%. The business had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $784.49 million. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that Kirby Co. will post 5.29 earnings per share for the current year.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.