BTIG Research Raises Kirby (NYSE:KEX) Price Target to $160.00

Kirby (NYSE:KEX) had its target price upped by equities research analysts at BTIG Research from $135.00 to $160.00 in a research note issued on Wednesday, MarketBeat reports. The brokerage presently has a “buy” rating on the shipping company’s stock. BTIG Research’s price objective suggests a potential upside of 11.43% from the stock’s previous close.

KEX has been the subject of a number of other reports. Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 27th. Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. Citigroup lifted their price objective on Kirby from $147.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Wolfe Research reaffirmed an “outperform” rating and issued a $136.00 price objective on shares of Kirby in a research note on Friday, January 30th. Finally, Evercore reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of Kirby in a research note on Monday, March 9th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.20.

Kirby Trading Up 0.8%

Shares of NYSE KEX opened at $143.58 on Wednesday. Kirby has a twelve month low of $79.51 and a twelve month high of $144.64. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $131.28 and a 200-day simple moving average of $115.75. The stock has a market capitalization of $7.70 billion, a PE ratio of 22.68, a PEG ratio of 1.36 and a beta of 0.83.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The business had revenue of $851.78 million during the quarter, compared to analysts’ expectations of $857.82 million. During the same period in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. On average, equities analysts forecast that Kirby will post 6.57 earnings per share for the current year.

Insider Buying and Selling at Kirby

In other news, COO Christian G. O’neil sold 11,287 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $132.34, for a total transaction of $1,493,721.58. Following the completion of the transaction, the chief operating officer directly owned 11,287 shares of the company’s stock, valued at approximately $1,493,721.58. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Ronald A. Dragg sold 5,429 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $122.00, for a total value of $662,338.00. Following the transaction, the vice president directly owned 10,399 shares of the company’s stock, valued at approximately $1,268,678. This represents a 34.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 71,495 shares of company stock worth $9,226,173. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KEX. Maseco LLP acquired a new stake in shares of Kirby in the 4th quarter valued at about $27,000. First Horizon Corp acquired a new stake in shares of Kirby in the 3rd quarter valued at about $30,000. Rothschild Investment LLC boosted its position in shares of Kirby by 2,600.0% in the 4th 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 period. Smartleaf Asset Management LLC boosted its position in shares of Kirby by 537.5% in the 4th 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 period. Finally, Parallel Advisors LLC boosted its position in shares of Kirby by 50.0% in the 4th 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 period. 96.15% of the stock is owned by institutional investors and hedge funds.

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.