Focus Partners Advisor Solutions LLC Takes Position in Kirby Corporation $KEX

Focus Partners Advisor Solutions LLC purchased a new position in Kirby Corporation (NYSE:KEX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,896 shares of the shipping company’s stock, valued at approximately $215,000.

Several other institutional investors have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Kirby by 244.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company’s stock worth $26,000 after buying an additional 164 shares during the last quarter. Maseco LLP purchased a new position in Kirby in the second quarter worth about $28,000. IFP Advisors Inc bought a new stake in Kirby during the second quarter worth approximately $29,000. KBC Group NV purchased a new stake in Kirby during the first quarter valued at approximately $32,000. Finally, Brooklyn Investment Group raised its position in Kirby by 40.7% during the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 114 shares during the period. Institutional investors own 96.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KEX shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a research report on Wednesday, October 8th. Citigroup lifted their price objective on shares of Kirby from $91.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday. Zacks Research raised shares of Kirby from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 3rd. Evercore ISI lifted their price target on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Bank of America cut their price target on shares of Kirby from $110.00 to $107.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $119.80.

Kirby Stock Performance

Kirby stock opened at $103.36 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74. The company has a market capitalization of $5.77 billion, a PE ratio of 19.18, a P/E/G ratio of 1.05 and a beta of 1.00. The company has a 50 day moving average price of $87.90 and a 200-day moving average price of $100.84. Kirby Corporation has a fifty-two week low of $79.51 and a fifty-two week high of $132.21.

Kirby (NYSE:KEX) last released its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.60 by $0.05. The company had revenue of $871.16 million for the quarter, compared to the consensus estimate of $843.29 million. Kirby had a return on equity of 10.06% and a net margin of 9.22%.Kirby’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS. As a group, equities analysts forecast that Kirby Corporation will post 6.57 earnings per share for the current year.

Kirby 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.