Kirby (NYSE:KEX) VP Sells $662,338.00 in Stock

Kirby Corporation (NYSE:KEX) VP Ronald Dragg sold 5,429 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $122.00, for a total transaction of $662,338.00. Following the transaction, the vice president owned 10,399 shares in the company, valued at $1,268,678. This represents a 34.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kirby Stock Up 3.3%

KEX opened at $122.61 on Monday. The stock has a market capitalization of $6.65 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.08 and a beta of 0.88. The firm has a 50 day moving average price of $117.87 and a 200-day moving average price of $103.71. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $132.18. The company has a quick ratio of 1.08, a current ratio of 1.70 and a debt-to-equity ratio of 0.31.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million for the quarter, compared to analysts’ expectations of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.55%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the company posted $1.29 earnings per share. Equities research analysts forecast that Kirby Corporation will post 6.57 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on KEX. Evercore increased their target price on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a research note on Thursday, January 22nd. Citigroup raised their price objective on shares of Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Wall Street Zen raised Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, BTIG Research lowered their price target on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Kirby has an average rating of “Moderate Buy” and a consensus target price of $129.40.

Hedge Funds Weigh In On Kirby

Large investors have recently modified their holdings of the stock. Maseco LLP purchased a new position in shares of Kirby during the 4th quarter worth about $27,000. IFP Advisors Inc purchased a new stake in shares of Kirby in the 2nd quarter worth $29,000. First Horizon Corp purchased a new stake in Kirby in the third quarter worth about $30,000. Bell Investment Advisors Inc lifted its position in shares of Kirby by 67.1% in the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after purchasing an additional 114 shares during the period. Finally, True Wealth Design LLC lifted its holdings in Kirby by 466.7% during the second quarter. True Wealth Design LLC now owns 374 shares of the shipping company’s stock worth $42,000 after buying an additional 308 shares during the period. Institutional investors own 96.15% of the company’s stock.

About Kirby

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.