Short Interest in Kirby Co. (NYSE:KEX) Drops By 9.5%

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Kirby Co. (NYSE:KEX) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 4,131,200 shares, a decrease of 9.5% from the May 30th total of 4,566,300 shares. Based on an average daily volume of 492,300 shares, the short-interest ratio is currently 8.4 days. Approximately 7.7% of the shares of the company are short sold.

A number of analysts have weighed in on the stock. TheStreet raised shares of Exantas Capital from a “d+” rating to a “c” rating in a report on Thursday, May 2nd. Wells Fargo & Co raised their price objective on shares of Twitter from $33.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, April 24th. Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Bank of America reaffirmed a “buy” rating and set a $143.00 price objective on shares of Xilinx in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Kirby has a consensus rating of “Buy” and an average target price of $81.13.

In other Kirby news, VP Ronald A. Dragg sold 500 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $84.00, for a total value of $42,000.00. Following the completion of the sale, the vice president now directly owns 10,386 shares of the company’s stock, valued at approximately $872,424. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dorman Lynn Strahan sold 3,071 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $84.89, for a total transaction of $260,697.19. Following the completion of the sale, the insider now directly owns 23,784 shares of the company’s stock, valued at $2,019,023.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,508 shares of company stock valued at $2,368,898. Insiders own 1.80% of the company’s stock.

Several large investors have recently added to or reduced their stakes in KEX. Carroll Financial Associates Inc. bought a new position in shares of Kirby during the 1st quarter worth about $36,000. Investors Research Corp bought a new position in Kirby during the 1st quarter valued at about $56,000. Amundi Pioneer Asset Management Inc. bought a new position in Kirby during the 4th quarter valued at about $102,000. Parametrica Management Ltd bought a new position in Kirby during the 1st quarter valued at about $209,000. Finally, Magnus Financial Group LLC bought a new position in Kirby during the 4th quarter valued at about $239,000. 95.72% of the stock is owned by institutional investors.

Shares of NYSE:KEX traded up $1.15 during midday trading on Friday, reaching $75.66. 662,797 shares of the company’s stock were exchanged, compared to its average volume of 452,582. The business has a 50 day moving average price of $79.10. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 1.96 and a beta of 1.01. Kirby has a 12 month low of $60.63 and a 12 month high of $88.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.92 and a quick ratio of 1.08.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, May 2nd. The shipping company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The company had revenue of $744.60 million during the quarter, compared to the consensus estimate of $737.78 million. Kirby had a net margin of 3.04% and a return on equity of 5.50%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS. As a group, equities research analysts expect that Kirby will post 3.48 EPS for the current year.

Kirby Company Profile

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

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