Richard Ross Stewart Sells 1,923 Shares of Kirby (NYSE:KEX) Stock

Kirby Corporation (NYSE:KEX) Director Richard Ross Stewart sold 1,923 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $107.83, for a total transaction of $207,357.09. Following the sale, the director directly owned 15,488 shares of the company’s stock, valued at approximately $1,670,071.04. This trade represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Kirby Stock Up 0.3%

Shares of KEX traded up $0.29 during midday trading on Wednesday, reaching $110.96. 173,216 shares of the company were exchanged, compared to its average volume of 732,243. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $132.21. The stock has a 50-day moving average price of $89.21 and a 200-day moving average price of $101.43. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.05 and a beta of 1.05.

Kirby (NYSE:KEX) last announced its earnings results on Wednesday, October 29th. The shipping company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.60 by $0.05. The business had revenue of $871.16 million for the quarter, compared to the consensus estimate of $843.29 million. Kirby had a return on equity of 10.06% and a net margin of 9.22%.The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the business posted $1.55 EPS. Research analysts expect that Kirby Corporation will post 6.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

KEX has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Kirby from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Bank of America lowered their price objective on Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Wednesday, September 3rd. Citigroup raised Kirby from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $128.00 in a research report on Wednesday, November 5th. Evercore ISI increased their price objective on shares of Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.40.

Hedge Funds Weigh In On Kirby

Several institutional investors have recently made changes to their positions in KEX. Thurston Springer Miller Herd & Titak Inc. grew its position in Kirby by 244.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company’s stock worth $26,000 after purchasing an additional 164 shares in the last quarter. Maseco LLP acquired a new position in Kirby during the second quarter valued at $28,000. IFP Advisors Inc purchased a new stake in Kirby in the 2nd quarter worth about $29,000. Bell Investment Advisors Inc boosted its position in Kirby by 67.1% during the 2nd 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 period. Finally, First Horizon Corp purchased a new position in Kirby during the 3rd quarter valued at about $30,000. 96.15% of the stock is owned by institutional investors.

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.