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

Shares of Kirby Corporation (NYSE:KEX) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $132.60.

A number of brokerages recently commented on KEX. BTIG Research lowered their price objective on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Evercore reissued an “outperform” rating and issued a $138.00 target price on shares of Kirby in a research note on Monday, March 9th. Weiss Ratings lowered shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Zacks Research upgraded Kirby from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Finally, Citigroup raised their price objective on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, January 30th.

Kirby Stock Performance

Shares of KEX stock opened at $130.59 on Monday. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. Kirby has a 12 month low of $79.51 and a 12 month high of $134.69. The firm has a fifty day moving average price of $126.39 and a 200 day moving average price of $108.99. The company has a market cap of $7.00 billion, a P/E ratio of 20.63, a PEG ratio of 1.16 and a beta of 0.83.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The firm had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. During the same quarter last year, the business posted $1.29 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts predict that Kirby will post 6.57 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Ronald A. Dragg sold 5,429 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $122.00, for a total value of $662,338.00. Following the completion of the transaction, the vice president directly owned 10,399 shares of the company’s stock, valued at $1,268,678. This represents a 34.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David W. Grzebinski sold 34,152 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $130.05, for a total value of $4,441,467.60. Following the completion of the sale, the chief executive officer owned 98,241 shares of the company’s stock, valued at approximately $12,776,242.05. This trade represents a 25.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 82,640 shares of company stock worth $10,470,847 over the last ninety days. Insiders own 0.80% of the company’s stock.

Institutional Trading of Kirby

Hedge funds have recently made changes to their positions in the stock. Maseco LLP acquired a new position in Kirby during the fourth quarter worth $27,000. First Horizon Corp acquired a new stake in shares of Kirby during the 3rd quarter worth about $30,000. Rothschild Investment LLC lifted its holdings in Kirby by 2,600.0% during the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 260 shares during the last quarter. Bell Investment Advisors Inc boosted its position in Kirby by 67.1% in the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after buying an additional 114 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Kirby by 537.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock valued at $34,000 after buying an additional 258 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

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.