Kirby (NYSE:KEX) Stock Price Expected to Rise, BTIG Research Analyst Says

Kirby (NYSE:KEX) had its target price hoisted by equities researchers at BTIG Research from $125.00 to $140.00 in a report issued on Thursday, MarketBeat.com reports. The firm presently has a “buy” rating on the shipping company’s stock. BTIG Research’s price target would suggest a potential upside of 11.24% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Evercore ISI raised their price target on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Citigroup raised their target price on shares of Kirby from $128.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Wolfe Research reaffirmed an “outperform” rating and issued a $134.00 price target on shares of Kirby in a report on Thursday, January 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $128.17.

Kirby Stock Performance

Shares of NYSE:KEX opened at $125.85 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 1.08. Kirby has a 1 year low of $79.51 and a 1 year high of $127.21. The firm has a market capitalization of $6.82 billion, a PE ratio of 23.35, a P/E/G ratio of 1.09 and a beta of 0.88. The business’s 50 day moving average price is $113.28 and its 200-day moving average price is $102.99.

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

Insiders Place Their Bets

In related news, VP Kurt A. Niemietz sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $114.12, for a total transaction of $171,180.00. Following the completion of the transaction, the vice president directly owned 958 shares in the company, valued at $109,326.96. This trade represents a 61.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Christian G. O’neil sold 11,145 shares of Kirby stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $111.68, for a total value of $1,244,673.60. Following the completion of the transaction, the chief operating officer directly owned 14,835 shares of the company’s stock, valued at approximately $1,656,772.80. This represents a 42.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 57,147 shares of company stock valued at $6,204,544. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in Kirby by 30.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after buying an additional 114,618 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Kirby by 152.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock worth $18,441,000 after acquiring an additional 110,320 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Kirby by 244.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company’s stock worth $26,000 after acquiring an additional 164 shares during the period. Parallel Advisors LLC raised its stake in shares of Kirby by 49.4% in the second quarter. Parallel Advisors LLC now owns 366 shares of the shipping company’s stock valued at $42,000 after acquiring an additional 121 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its stake in shares of Kirby by 14.3% in the second quarter. Pallas Capital Advisors LLC now owns 4,291 shares of the shipping company’s stock valued at $487,000 after acquiring an additional 537 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Company Profile

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.