StockNews.com Upgrades Kirby (NYSE:KEX) to “Buy”

Kirby (NYSE:KEX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Kirby Trading Up 0.2 %

KEX stock traded up $0.23 during trading on Tuesday, hitting $118.05. The company had a trading volume of 430,016 shares, compared to its average volume of 455,690. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Kirby has a one year low of $72.74 and a one year high of $132.21. The business has a 50-day moving average of $123.73 and a 200-day moving average of $120.95. The stock has a market cap of $6.78 billion, a PE ratio of 22.66, a PEG ratio of 0.70 and a beta of 1.18.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. Kirby’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. Research analysts predict that Kirby will post 5.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Kirby

In related news, VP Ronald A. Dragg sold 2,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total transaction of $294,444.90. Following the transaction, the vice president now directly owns 7,683 shares of the company’s stock, valued at $978,045.90. This trade represents a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christian G. O’neil sold 15,041 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the sale, the chief operating officer now directly owns 7,746 shares of the company’s stock, valued at approximately $1,006,980. This represents a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,596 shares of company stock valued at $8,541,440. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kirby

Hedge funds have recently made changes to their positions in the stock. CWM LLC grew its stake in Kirby by 343.1% in the 2nd quarter. CWM LLC now owns 1,214 shares of the shipping company’s stock worth $145,000 after buying an additional 940 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Kirby by 201.8% in the 2nd quarter. SG Americas Securities LLC now owns 16,213 shares of the shipping company’s stock valued at $1,941,000 after acquiring an additional 10,841 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Kirby during the 2nd quarter worth approximately $225,000. ORG Partners LLC purchased a new position in Kirby in the 2nd quarter worth approximately $32,000. Finally, Blue Trust Inc. lifted its position in Kirby by 91.0% in the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 141 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

About Kirby

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.