Kirby (NYSE:KEX) Upgraded to “Buy” at StockNews.com

Kirby (NYSE:KEX) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

KEX has been the topic of several other research reports. BTIG Research upped their target price on shares of Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Stephens reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Kirby in a report on Monday, February 5th.

Kirby Trading Down 0.8 %

Shares of Kirby stock opened at $97.14 on Tuesday. The firm has a market capitalization of $5.68 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.01. The company’s fifty day moving average price is $90.34 and its two-hundred day moving average price is $82.58. Kirby has a 52-week low of $66.42 and a 52-week high of $101.17.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, February 1st. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.01. The firm had revenue of $799.18 million for the quarter, compared to analyst estimates of $778.70 million. Kirby had a net margin of 7.21% and a return on equity of 7.12%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. On average, analysts expect that Kirby will post 4.94 EPS for the current year.

Insider Transactions at Kirby

In other Kirby news, VP Scott P. Miller sold 487 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $99.78, for a total transaction of $48,592.86. Following the sale, the vice president now owns 1,000 shares of the company’s stock, valued at approximately $99,780. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Kirby news, VP Scott P. Miller sold 487 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $99.78, for a total transaction of $48,592.86. Following the sale, the vice president now owns 1,000 shares of the company’s stock, valued at approximately $99,780. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Ronald A. Dragg sold 1,413 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $84.68, for a total transaction of $119,652.84. Following the sale, the vice president now directly owns 10,651 shares in the company, valued at approximately $901,926.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,418 shares of company stock valued at $4,932,521. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC raised its position in shares of Kirby by 0.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 17,847 shares of the shipping company’s stock valued at $1,388,000 after acquiring an additional 124 shares during the period. Treasurer of the State of North Carolina raised its position in shares of Kirby by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 26,157 shares of the shipping company’s stock valued at $2,166,000 after acquiring an additional 130 shares during the period. Keene & Associates Inc. raised its position in shares of Kirby by 5.9% in the 3rd quarter. Keene & Associates Inc. now owns 5,238 shares of the shipping company’s stock valued at $434,000 after acquiring an additional 290 shares during the period. Swiss National Bank raised its position in shares of Kirby by 0.9% in the 3rd quarter. Swiss National Bank now owns 32,957 shares of the shipping company’s stock valued at $2,729,000 after acquiring an additional 300 shares during the period. Finally, Keybank National Association OH raised its position in shares of Kirby by 3.8% in the 3rd quarter. Keybank National Association OH now owns 8,565 shares of the shipping company’s stock valued at $709,000 after acquiring an additional 313 shares during the period. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Kirby Company Profile

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.