Kirby Co. (NYSE:KEX) Receives Consensus Rating of “Buy” from Analysts

Shares of Kirby Co. (NYSE:KEX) have earned an average rating of “Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $123.80.

Separately, StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th.

Kirby Price Performance

KEX stock opened at $106.49 on Tuesday. The business’s 50-day moving average is $114.03 and its two-hundred day moving average is $118.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The firm has a market capitalization of $6.11 billion, a P/E ratio of 20.44, a P/E/G ratio of 0.55 and a beta of 1.21. Kirby has a 1 year low of $78.57 and a 1 year high of $132.21.

Kirby (NYSE:KEX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The firm had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. Analysts anticipate that Kirby will post 5.45 earnings per share for the current fiscal year.

Insider Transactions at Kirby

In related news, VP Ronald A. Dragg sold 2,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the sale, the vice president now owns 7,683 shares in the company, valued at $978,045.90. This trade represents a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Ross Stewart sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total value of $1,025,680.00. Following the transaction, the director now directly owns 15,488 shares of the company’s stock, valued at $1,985,716.48. The trade was a 34.06 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,354 shares of company stock worth $3,275,455. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its stake in Kirby by 0.7% during the 3rd quarter. State Street Corp now owns 1,667,520 shares of the shipping company’s stock valued at $204,154,000 after purchasing an additional 12,337 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kirby by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 961,303 shares of the shipping company’s stock valued at $117,724,000 after buying an additional 2,784 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Kirby by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock worth $85,585,000 after buying an additional 152,146 shares in the last quarter. Millennium Management LLC increased its stake in shares of Kirby by 13.1% in the second quarter. Millennium Management LLC now owns 533,326 shares of the shipping company’s stock worth $63,855,000 after buying an additional 61,573 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Kirby by 68.7% in the third quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock valued at $58,428,000 after acquiring an additional 194,410 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.