Kirby (NYSE:KEX) Price Target Raised to $160.00

Kirby (NYSE:KEX) had its target price upped by Citigroup from $147.00 to $160.00 in a research report sent to investors on Thursday, MarketBeat reports. They currently have a buy rating on the shipping company’s stock.

Several other research firms have also recently issued reports on KEX. BTIG Research lowered their price objective on Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Wolfe Research reaffirmed an “outperform” rating and set a $136.00 price objective on shares of Kirby in a research report on Friday, January 30th. Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 27th. Finally, Evercore reaffirmed an “outperform” rating and set a $138.00 price objective on shares of Kirby in a research note on Monday, March 9th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Kirby presently has an average rating of “Moderate Buy” and an average target price of $135.20.

Kirby Trading Down 0.8%

KEX opened at $140.43 on Thursday. The business has a fifty day moving average price of $129.49 and a 200 day moving average price of $114.33. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.34 and a beta of 0.83. Kirby has a 12 month low of $79.51 and a 12 month high of $143.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96.

Kirby (NYSE:KEX) last released its quarterly earnings data 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 business had revenue of $851.78 million during the quarter, compared to analysts’ expectations of $857.82 million. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. Sell-side analysts expect that Kirby will post 6.57 earnings per share for the current fiscal year.

Insider Activity at Kirby

In other Kirby news, VP Amy D. Husted sold 11,667 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $129.33, for a total transaction of $1,508,893.11. Following the transaction, the vice president owned 14,814 shares in the company, valued at approximately $1,915,894.62. The trade was a 44.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Christian G. O’neil sold 11,287 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $132.34, for a total value of $1,493,721.58. Following the transaction, the chief operating officer owned 11,287 shares in the company, valued at $1,493,721.58. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 71,495 shares of company stock worth $9,226,173 in the last three months. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kirby

Several hedge funds have recently bought and sold shares of KEX. Goldman Sachs Group Inc. grew its holdings in Kirby by 30.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock valued at $49,632,000 after buying an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Kirby by 152.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock valued at $18,441,000 after buying an additional 110,320 shares during the last quarter. Cerity Partners LLC grew its holdings in Kirby by 68.6% during the 2nd quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company’s stock valued at $2,279,000 after buying an additional 8,174 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Kirby by 3.5% during the second quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company’s stock worth $10,951,000 after purchasing an additional 3,292 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Kirby during the second quarter worth $789,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

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.