Kirby (NYSE:KEX) Sets New 12-Month Low – Time to Sell?

Kirby Co. (NYSE:KEX) reached a new 52-week low during trading on Thursday . The company traded as low as $93.31 and last traded at $93.75, with a volume of 265307 shares. The stock had previously closed at $103.15.

Analyst Upgrades and Downgrades

KEX has been the subject of several research reports. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Bank of America dropped their target price on shares of Kirby from $133.00 to $123.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Finally, Stifel Nicolaus decreased their price target on shares of Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, January 31st.

Kirby Price Performance

The firm has a 50 day moving average price of $102.83 and a two-hundred day moving average price of $112.96. The company has a market cap of $5.08 billion, a P/E ratio of 18.17, a P/E/G ratio of 0.88 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. On average, analysts predict that Kirby Co. will post 6.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the transaction, the vice president now directly owns 5,545 shares in the company, valued at $596,697.45. This represents a 18.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Kirby

A number of hedge funds and other institutional investors have recently made changes to their positions in KEX. JPMorgan Chase & Co. grew its holdings in shares of Kirby by 27.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company’s stock worth $17,418,000 after acquiring an additional 30,713 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Kirby by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 415,042 shares of the shipping company’s stock valued at $43,911,000 after purchasing an additional 10,486 shares in the last quarter. Artemis Investment Management LLP grew its stake in Kirby by 112.0% in the fourth quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company’s stock worth $40,504,000 after purchasing an additional 202,272 shares during the period. Asset Management One Co. Ltd. raised its holdings in Kirby by 24.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 29,659 shares of the shipping company’s stock worth $3,143,000 after purchasing an additional 5,804 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Kirby during the fourth quarter valued at $18,749,000. Institutional investors own 96.15% of the company’s stock.

About Kirby

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.