Kirby Corporation (NYSE:KEX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Kirby Corporation (NYSE:KEX) has been assigned an average rating of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $129.40.

Several research firms recently weighed in on KEX. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a report on Thursday, January 22nd. BTIG Research cut their target price on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Wolfe Research reiterated an “outperform” rating and set a $136.00 price target on shares of Kirby in a research report on Friday, January 30th. Wall Street Zen upgraded shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Citigroup lifted their price objective on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, January 30th.

Kirby Stock Up 1.1%

Shares of NYSE:KEX opened at $128.07 on Thursday. The stock’s 50-day moving average is $119.62 and its 200 day moving average is $104.40. The company has a market cap of $6.94 billion, a PE ratio of 20.23, a P/E/G ratio of 1.14 and a beta of 0.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 1.08. Kirby has a 1 year low of $79.51 and a 1 year high of $132.18.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.06. Kirby had a return on equity of 10.55% 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 quarter last year, the business posted $1.29 EPS. The business’s revenue was up 6.2% on a year-over-year basis. Sell-side analysts anticipate that Kirby will post 6.57 EPS for the current year.

Insider Activity at Kirby

In other Kirby news, VP William Matthew Woodruff sold 2,000 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $121.88, for a total value of $243,760.00. Following the completion of the transaction, the vice president owned 687 shares in the company, valued at approximately $83,731.56. This represents a 74.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott P. Miller sold 3,960 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $120.68, for a total transaction of $477,892.80. Following the sale, the vice president owned 3,565 shares in the company, valued at approximately $430,224.20. This trade represents a 52.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 63,898 shares of company stock valued at $7,081,741 over the last ninety days. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Kirby

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Maseco LLP bought a new stake in shares of Kirby in the 4th quarter worth approximately $27,000. IFP Advisors Inc purchased a new position in Kirby during the second quarter valued at $29,000. First Horizon Corp purchased a new position in Kirby during the third quarter valued at $30,000. Rothschild Investment LLC boosted its holdings in Kirby by 2,600.0% in the fourth quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock worth $30,000 after acquiring an additional 260 shares in the last quarter. Finally, Bell Investment Advisors Inc grew its stake in shares of Kirby by 67.1% in the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other 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.