Kirby (NYSE:KEX) Hits New 12-Month High – Time to Buy?

Shares of Kirby Corporation (NYSE:KEX) hit a new 52-week high on Thursday . The stock traded as high as $130.89 and last traded at $129.6390, with a volume of 862167 shares traded. The stock had previously closed at $126.90.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Kirby in a report on Wednesday, October 8th. Evercore ISI boosted their target price on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Citigroup raised their price target on Kirby from $131.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen raised Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Wolfe Research reissued an “outperform” rating and set a $134.00 target price on shares of Kirby in a research note on Thursday, January 8th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Kirby has an average rating of “Moderate Buy” and a consensus price target of $130.50.

Kirby Stock Down 1.5%

The firm has a market cap of $6.98 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 1.12 and a beta of 0.88. 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 business has a 50-day moving average price of $115.21 and a two-hundred day moving average price of $103.41.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. Kirby had a return on equity of 10.05% and a net margin of 9.22%.The firm had revenue of $871.16 million during the quarter, compared to analyst estimates of $843.29 million. During the same period last year, the business posted $1.55 earnings per share. Kirby’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts expect that Kirby Corporation will post 6.57 EPS for the current year.

Insider Buying and Selling at Kirby

In related news, Director Richard Ross Stewart sold 1,923 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.83, for a total transaction of $207,357.09. Following the sale, the director directly owned 15,488 shares in the company, valued at approximately $1,670,071.04. This represents a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David W. Grzebinski sold 29,451 shares of Kirby stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $107.41, for a total transaction of $3,163,331.91. Following the completion of the transaction, the chief executive officer owned 79,709 shares of the company’s stock, valued at $8,561,543.69. This represents a 26.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 57,147 shares of company stock valued at $6,204,544. 0.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kirby

Large investors have recently bought and sold shares of the business. Ethic Inc. lifted its holdings in Kirby by 3.1% during the 2nd quarter. Ethic Inc. now owns 3,236 shares of the shipping company’s stock worth $372,000 after buying an additional 98 shares during the last quarter. Bell Investment Advisors Inc raised its position in shares of Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after acquiring an additional 114 shares in the last quarter. State of Wyoming lifted its stake in Kirby by 12.8% during the third quarter. State of Wyoming now owns 1,003 shares of the shipping company’s stock worth $84,000 after purchasing an additional 114 shares during the last quarter. Xponance Inc. lifted its stake in Kirby by 1.8% during the third quarter. Xponance Inc. now owns 6,809 shares of the shipping company’s stock worth $568,000 after purchasing an additional 118 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Kirby by 49.4% in the second quarter. Parallel Advisors LLC now owns 366 shares of the shipping company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.