Kirby Corporation (NYSE:KEX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Kirby Corporation (NYSE:KEX) has received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $123.40.

KEX has been the subject of a number of research analyst reports. Bank of America decreased their price objective on shares of Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Wall Street Zen raised Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kirby in a research report on Wednesday, October 8th. Finally, BTIG Research reiterated a “buy” rating and set a $125.00 price target on shares of Kirby in a research note on Thursday, September 18th.

Kirby Stock Performance

KEX stock opened at $112.90 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.12 billion, a PE ratio of 20.95, a P/E/G ratio of 1.09 and a beta of 0.88. The business has a 50 day moving average of $97.95 and a 200-day moving average of $102.26. Kirby has a 12-month low of $79.51 and a 12-month high of $122.50.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.05. The business had revenue of $871.16 million for the quarter, compared to analysts’ expectations of $843.29 million. Kirby had a return on equity of 10.05% and a net margin of 9.22%.The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.55 earnings per share. As a group, sell-side analysts expect that Kirby will post 6.57 earnings per share for the current year.

Insider Activity

In other news, VP Amy D. Husted sold 10,413 shares of Kirby stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $107.42, for a total value of $1,118,564.46. Following the completion of the transaction, the vice president owned 11,760 shares in the company, valued at $1,263,259.20. This trade represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Grzebinski sold 29,451 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $107.41, for a total transaction of $3,163,331.91. Following the sale, the chief executive officer owned 79,709 shares in the company, valued at $8,561,543.69. The trade was a 26.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 46,002 shares of company stock valued at $4,959,871. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Kirby

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Kirby by 244.8% in the second 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 in the last quarter. Maseco LLP bought a new stake in Kirby during the 2nd quarter worth approximately $28,000. IFP Advisors Inc purchased a new stake in Kirby in the 2nd quarter worth approximately $29,000. First Horizon Corp purchased a new stake in Kirby in the 3rd quarter worth approximately $30,000. Finally, Bell Investment Advisors Inc boosted its holdings in Kirby by 67.1% in the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 114 shares during the period. 96.15% of the stock is currently owned by institutional investors.

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.