Kirby (NYSE:KEX) Given Buy Rating at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Kirby (NYSE:KEX) in a research report report published on Tuesday,Benzinga reports. The firm currently has a $170.00 price objective on the shipping company’s stock.

A number of other analysts also recently issued reports on the company. Weiss Ratings downgraded Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. Evercore reissued an “outperform” rating and set a $158.00 price target on shares of Kirby in a research report on Friday, May 1st. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Citigroup boosted their price target on Kirby from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Bank of America upped their price objective on Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Kirby currently has an average rating of “Moderate Buy” and an average target price of $162.20.

Kirby Stock Up 1.3%

Shares of KEX stock opened at $144.68 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29. Kirby has a 1 year low of $79.51 and a 1 year high of $157.69. The firm’s fifty day moving average price is $141.26 and its two-hundred day moving average price is $133.92. The firm has a market capitalization of $7.74 billion, a P/E ratio of 22.26, a PEG ratio of 1.25 and a beta of 0.83.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, April 30th. The shipping company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. Kirby had a net margin of 10.51% and a return on equity of 10.62%. The firm had revenue of $844.10 million for the quarter, compared to analysts’ expectations of $832.57 million. During the same period in the previous year, the firm posted $1.33 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. On average, equities analysts predict that Kirby will post 7.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP William Matthew Woodruff sold 678 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $147.37, for a total value of $99,916.86. Following the transaction, the vice president directly owned 9 shares of the company’s stock, valued at $1,326.33. This represents a 98.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ronald A. Dragg sold 1,726 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $145.01, for a total transaction of $250,287.26. Following the completion of the transaction, the vice president directly owned 8,673 shares in the company, valued at $1,257,671.73. The trade was a 16.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 17,691 shares of company stock worth $2,579,036. Company insiders own 0.80% of the company’s stock.

Institutional Trading of Kirby

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its position in Kirby by 30.4% during the first quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after acquiring an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 valued at $18,441,000 after purchasing an additional 110,320 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Kirby by 68.6% during the second quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company’s stock worth $2,279,000 after purchasing an additional 8,174 shares during the period. California Public Employees Retirement System increased its stake in shares of Kirby by 3.5% during the second quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company’s stock worth $10,951,000 after purchasing an additional 3,292 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in Kirby by 52,000.0% during the 2nd quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company’s stock worth $236,000 after purchasing an additional 2,080 shares during the last quarter. 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.