Kirby (KEX) Coverage Initiated at Jefferies Group

Analysts at Jefferies Group started coverage on shares of Kirby (NYSE:KEX) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating and a $85.00 price target on the shipping company’s stock. Jefferies Group’s price target would indicate a potential upside of 30.07% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $67.00 price objective on shares of Kirby in a research note on Friday, November 3rd. BidaskClub upgraded shares of Kirby from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $75.40.

Shares of Kirby (NYSE KEX) traded up $1.50 during trading on Monday, reaching $65.35. 549,879 shares of the company’s stock were exchanged, compared to its average volume of 426,832. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23. Kirby has a twelve month low of $59.25 and a twelve month high of $74.50. The firm has a market cap of $3,811.65, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 3.97 and a beta of 1.04.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. Kirby had a net margin of 5.88% and a return on equity of 4.48%. The business had revenue of $541.30 million for the quarter, compared to analyst estimates of $517.54 million. During the same quarter in the prior year, the business posted $0.59 EPS. Kirby’s revenue for the quarter was up 24.5% compared to the same quarter last year. equities research analysts anticipate that Kirby will post 2.01 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in KEX. Aperio Group LLC increased its stake in shares of Kirby by 2.2% in the second quarter. Aperio Group LLC now owns 10,386 shares of the shipping company’s stock worth $694,000 after acquiring an additional 222 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Kirby by 0.4% in the second quarter. Great West Life Assurance Co. Can now owns 27,882 shares of the shipping company’s stock worth $1,862,000 after acquiring an additional 117 shares during the period. Sei Investments Co. increased its stake in shares of Kirby by 18.2% in the second quarter. Sei Investments Co. now owns 25,646 shares of the shipping company’s stock worth $1,715,000 after acquiring an additional 3,957 shares during the period. Arizona State Retirement System increased its stake in shares of Kirby by 1.8% in the second quarter. Arizona State Retirement System now owns 22,800 shares of the shipping company’s stock worth $1,524,000 after acquiring an additional 400 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in shares of Kirby by 25.9% in the second quarter. Advisors Asset Management Inc. now owns 7,467 shares of the shipping company’s stock worth $499,000 after acquiring an additional 1,535 shares during the period. Hedge funds and other institutional investors own 96.59% of the company’s stock.

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Kirby Company Profile

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

Analyst Recommendations for Kirby (NYSE:KEX)