Kirby (NYSE:KEX) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Kirby (NYSE:KEX) from a buy rating to a hold rating in a research report sent to investors on Friday.

Several other analysts also recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Kirby from $131.00 to $132.00 and gave the stock a buy rating in a research note on Tuesday, May 21st. Bank of America boosted their target price on Kirby from $138.00 to $141.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kirby has an average rating of Moderate Buy and a consensus target price of $123.80.

Kirby Price Performance

KEX opened at $114.55 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $6.63 billion, a P/E ratio of 27.30, a PEG ratio of 0.71 and a beta of 1.17. The stock has a 50-day moving average price of $118.70 and a 200-day moving average price of $110.11. Kirby has a 12-month low of $72.11 and a 12-month high of $130.90.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 8.70% and a net margin of 8.72%. Kirby’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Equities analysts predict that Kirby will post 5.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Kirby

In related news, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $110.21, for a total value of $305,281.70. Following the sale, the chief operating officer now directly owns 16,079 shares of the company’s stock, valued at $1,772,066.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $110.21, for a total value of $305,281.70. Following the completion of the sale, the chief operating officer now owns 16,079 shares of the company’s stock, valued at $1,772,066.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David W. Grzebinski sold 3,000 shares of Kirby stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total transaction of $360,930.00. Following the completion of the sale, the chief executive officer now owns 63,399 shares in the company, valued at approximately $7,627,533.69. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Kirby

Institutional investors have recently bought and sold shares of the stock. Park West Asset Management LLC purchased a new position in shares of Kirby during the 4th quarter worth approximately $61,824,000. Norges Bank purchased a new stake in Kirby in the fourth quarter worth $51,781,000. Select Equity Group L.P. bought a new position in Kirby in the second quarter worth $65,928,000. Lord Abbett & CO. LLC purchased a new position in Kirby during the first quarter valued at $22,877,000. Finally, Encompass Capital Advisors LLC lifted its position in Kirby by 33.9% during the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after buying an additional 224,802 shares during the period. 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.