Kirby Co. (NYSE:KEX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Kirby Corporation conducts operations in two business segments: marine transportation and diesel repair. The Company’s marine transportation segment is engaged in the inland transportation of industrial chemicals, petrochemical feedstocks, agricultural chemicals and refined petroleum products by tank barge; and in the offshore transportation of refined petroleum products by tanker and tank barge, and dry-bulk, container and palletized cargoes by barge and break-bulk ship. The Company’s diesel repair segment is engaged in the sale, overhaul and repair of diesel engines and related parts sales. “
Several other brokerages have also recently issued reports on KEX. OTR Global raised Kirby to a “neutral” rating in a research report on Wednesday, January 18th. Stephens cut Kirby from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $70.00 to $68.00 in a research report on Monday, November 28th. Jefferies Group LLC raised their target price on Kirby from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Monday, January 23rd. Finally, Wells Fargo & Co raised Kirby from an “underperform” rating to a “market perform” rating in a research report on Friday, February 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $62.00.
Kirby (NYSE:KEX) traded up 1.73% on Tuesday, hitting $70.55. 534,753 shares of the company traded hands. Kirby has a 1-year low of $50.80 and a 1-year high of $73.40. The firm’s 50 day moving average price is $69.56 and its 200 day moving average price is $64.99. The firm has a market capitalization of $3.81 billion, a PE ratio of 26.89 and a beta of 1.09.
Kirby (NYSE:KEX) last announced its earnings results on Wednesday, February 1st. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The business had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $403.52 million. Kirby had a return on equity of 6.01% and a net margin of 7.99%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. Equities research analysts predict that Kirby will post $2.04 EPS for the current fiscal year.
In other news, insider Dorman Lynn Strahan sold 2,529 shares of Kirby stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $71.78, for a total transaction of $181,531.62. Following the transaction, the insider now directly owns 32,501 shares of the company’s stock, valued at approximately $2,332,921.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Amy D. Husted sold 2,985 shares of Kirby stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $70.58, for a total value of $210,681.30. Following the transaction, the vice president now directly owns 19,862 shares in the company, valued at $1,401,859.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,768 shares of company stock worth $682,703. Insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC boosted its position in Kirby by 1,434.7% in the fourth quarter. Teachers Advisors LLC now owns 796,749 shares of the company’s stock worth $52,984,000 after buying an additional 744,834 shares during the last quarter. Norges Bank bought a new position in Kirby during the fourth quarter worth $41,891,000. Sandler Capital Management bought a new position in Kirby during the fourth quarter worth $4,336,000. Westwood Holdings Group Inc. boosted its position in Kirby by 3.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 4,250 shares of the company’s stock worth $283,000 after buying an additional 155 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Kirby by 18.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 347,890 shares of the company’s stock worth $23,135,000 after buying an additional 54,060 shares during the last quarter. 99.40% of the stock is currently owned by hedge funds and other institutional investors.
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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