Kirby Co. (NYSE:KEX) Given Consensus Rating of “Buy” by Brokerages

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

KEX has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on shares of Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Wolfe Research started coverage on shares of Kirby in a research note on Monday, April 22nd. They issued an “outperform” rating and a $126.00 price target for the company. Bank of America lifted their price target on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th.

Insider Buying and Selling

In related news, VP Amy D. Husted sold 7,853 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $122.50, for a total value of $961,992.50. Following the transaction, the vice president now owns 5,280 shares of the company’s stock, valued at $646,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director William M. Waterman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $114.51, for a total value of $1,145,100.00. Following the transaction, the director now owns 77,316 shares of the company’s stock, valued at $8,853,455.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Amy D. Husted sold 7,853 shares of Kirby stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $122.50, for a total transaction of $961,992.50. Following the transaction, the vice president now directly owns 5,280 shares in the company, valued at approximately $646,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,623 shares of company stock valued at $3,256,029. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Kirby

Several large investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in Kirby during the second quarter valued at approximately $72,000. Benjamin Edwards Inc. purchased a new position in Kirby during the second quarter valued at approximately $712,000. Intech Investment Management LLC purchased a new position in Kirby during the second quarter valued at approximately $425,000. Resolute Capital Asset Partners LLC lifted its holdings in Kirby by 25.0% during the second quarter. Resolute Capital Asset Partners LLC now owns 25,000 shares of the shipping company’s stock valued at $2,993,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in Kirby during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Stock Down 0.1 %

NYSE:KEX opened at $116.51 on Tuesday. The firm has a market cap of $6.82 billion, a P/E ratio of 27.54, a P/E/G ratio of 0.70 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.81. Kirby has a fifty-two week low of $72.11 and a fifty-two week high of $130.90. The firm has a 50-day simple moving average of $119.32 and a two-hundred day simple moving average of $105.31.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, August 1st. The shipping company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. The business had revenue of $824.40 million during the quarter, compared to analyst estimates of $821.65 million. Kirby had a net margin of 8.72% and a return on equity of 8.75%. Kirby’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. Analysts predict that Kirby will post 5.3 earnings per share for the current fiscal year.

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.