Kirby (NYSE:KEX) Hits New 52-Week High After Analyst Upgrade

Kirby Corporation (NYSE:KEX) reached a new 52-week high during mid-day trading on Wednesday after BTIG Research raised their price target on the stock from $135.00 to $160.00. BTIG Research currently has a buy rating on the stock. Kirby traded as high as $143.79 and last traded at $143.53, with a volume of 74659 shares. The stock had previously closed at $142.63.

Several other research firms have also issued reports on KEX. Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 27th. Citigroup upped their target price on Kirby from $147.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Wolfe Research reaffirmed an “outperform” rating and issued a $136.00 target price on shares of Kirby in a 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. Finally, Evercore reaffirmed an “outperform” rating and issued a $138.00 target price on shares of Kirby in a report 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.20.

Insider Buying and Selling

In related news, COO Christian G. O’neil sold 11,287 shares of the company’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 approximately $1,493,721.58. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ronald A. Dragg sold 5,429 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $122.00, for a total value of $662,338.00. Following the completion of the transaction, the vice president owned 10,399 shares in the company, valued at approximately $1,268,678. The trade was a 34.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 71,495 shares of company stock worth $9,226,173 in the last ninety days. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Kirby

Institutional investors have recently bought and sold shares of the company. Maseco LLP purchased a new position in Kirby in the fourth quarter valued at approximately $27,000. First Horizon Corp purchased a new stake in Kirby during the third quarter valued at about $30,000. Rothschild Investment LLC lifted its holdings in Kirby by 2,600.0% during the fourth quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 260 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Kirby by 537.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 258 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Kirby by 50.0% during the fourth quarter. Parallel Advisors LLC now owns 402 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

The firm has a market capitalization of $7.63 billion, a PE ratio of 22.48, a P/E/G ratio of 1.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96. The company’s fifty day simple moving average is $130.78 and its 200 day simple moving average is $115.55.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. The business had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. As a group, equities research analysts expect that Kirby Corporation will post 6.57 EPS for the current fiscal year.

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.