Kirby (NYSE:KEX) PT Raised to $100.00 at Stifel Nicolaus

Kirby (NYSE:KEX) had its price objective increased by Stifel Nicolaus from $90.00 to $100.00 in a research report issued on Thursday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 17.73% from the company’s current price.

Separately, StockNews.com assumed coverage on shares of Kirby in a research report on Thursday, August 17th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Kirby presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.50.

Kirby Stock Down 1.5 %

Kirby stock opened at $84.94 on Thursday. Kirby has a 1-year low of $57.64 and a 1-year high of $87.52. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 1.93 and a beta of 1.26. The firm’s fifty day moving average price is $80.75 and its two-hundred day moving average price is $74.82. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, July 27th. The shipping company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.12. Kirby had a net margin of 5.81% and a return on equity of 5.82%. The firm had revenue of $777.20 million for the quarter, compared to analyst estimates of $781.18 million. During the same period last year, the firm earned $0.49 earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts predict that Kirby will post 3.71 earnings per share for the current fiscal year.

Insider Activity at Kirby

In other Kirby news, Director Richard Ross Stewart sold 3,000 shares of Kirby stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $85.72, for a total value of $257,160.00. Following the sale, the director now owns 24,660 shares of the company’s stock, valued at $2,113,855.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Kirby news, CEO David W. Grzebinski sold 26,634 shares of Kirby stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $83.03, for a total value of $2,211,421.02. Following the sale, the chief executive officer now owns 69,006 shares of the company’s stock, valued at $5,729,568.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Ross Stewart sold 3,000 shares of Kirby stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $85.72, for a total transaction of $257,160.00. Following the completion of the sale, the director now directly owns 24,660 shares in the company, valued at approximately $2,113,855.20. The disclosure for this sale can be found here. Insiders have sold 68,890 shares of company stock valued at $5,670,104 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Kirby

Several large investors have recently modified their holdings of the business. Oak Thistle LLC raised its position in shares of Kirby by 4.4% in the second quarter. Oak Thistle LLC now owns 3,332 shares of the shipping company’s stock valued at $256,000 after purchasing an additional 139 shares during the period. Simmons Bank raised its position in shares of Kirby by 0.6% in the second quarter. Simmons Bank now owns 22,533 shares of the shipping company’s stock valued at $1,734,000 after purchasing an additional 143 shares during the period. Hourglass Capital LLC raised its position in shares of Kirby by 0.3% in the second quarter. Hourglass Capital LLC now owns 44,785 shares of the shipping company’s stock valued at $3,446,000 after purchasing an additional 150 shares during the period. 1832 Asset Management L.P. raised its position in shares of Kirby by 87.0% in the second quarter. 1832 Asset Management L.P. now owns 404 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 188 shares during the period. Finally, Treasurer of the State of North Carolina raised its position in shares of Kirby by 0.7% in the first quarter. Treasurer of the State of North Carolina now owns 26,097 shares of the shipping company’s stock valued at $1,819,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 94.93% of the company’s stock.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.