Kirby Corporation (NYSE:KEX) Receives Average Rating of “Moderate Buy” from Analysts

Kirby Corporation (NYSE:KEX) has been given an average rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $124.00.

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of Kirby from $128.00 to $131.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Bank of America reduced their target price on shares of Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Zacks Research raised shares of Kirby from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Evercore ISI boosted their price objective on Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Wall Street Zen raised Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st.

Insider Activity

In other news, COO Christian G. O’neil sold 11,145 shares of Kirby stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $111.68, for a total transaction of $1,244,673.60. Following the completion of the sale, the chief operating officer owned 14,835 shares of the company’s stock, valued at approximately $1,656,772.80. This trade represents a 42.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Ross Stewart sold 1,923 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $107.83, for a total transaction of $207,357.09. Following the completion of the sale, the director directly owned 15,488 shares of the company’s stock, valued at approximately $1,670,071.04. The trade was a 11.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 57,147 shares of company stock worth $6,204,544. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Kirby

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new position in Kirby during the 3rd quarter worth $56,000. Tudor Investment Corp ET AL acquired a new stake in shares of Kirby during the 3rd quarter worth $8,772,000. Armistice Capital LLC acquired a new stake in shares of Kirby during the 3rd quarter worth $208,000. Caxton Associates LLP bought a new position in shares of Kirby in the third quarter worth $205,000. Finally, Sender Co & Partners Inc. acquired a new position in Kirby in the third quarter valued at about $360,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Kirby Trading Up 0.1%

Shares of NYSE:KEX opened at $111.11 on Wednesday. The company has a 50-day simple moving average of $107.37 and a 200 day simple moving average of $102.18. The company has a market capitalization of $6.02 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 1.08 and a beta of 0.88. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.70. Kirby has a 52-week low of $79.51 and a 52-week high of $122.50.

Kirby (NYSE:KEX) last released its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. The company had revenue of $871.16 million during the quarter, compared to analysts’ expectations of $843.29 million. Kirby had a return on equity of 10.05% and a net margin of 9.22%.The business’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $1.55 earnings per share. Sell-side analysts forecast that Kirby will post 6.57 earnings per share for the current year.

About Kirby

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.