Kirby (NYSE:KEX) VP Sells $477,892.80 in Stock

Kirby Corporation (NYSE:KEX) VP Scott Miller sold 3,960 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total value of $477,892.80. Following the sale, the vice president directly owned 3,565 shares in the company, valued at $430,224.20. This trade represents a 52.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Kirby Trading Up 1.5%

Shares of NYSE:KEX traded up $1.79 during midday trading on Wednesday, reaching $122.03. The company had a trading volume of 479,984 shares, compared to its average volume of 888,232. The company has a fifty day simple moving average of $118.14 and a two-hundred day simple moving average of $103.75. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.06 and a beta of 0.88. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $132.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.70.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. Kirby had a return on equity of 10.55% and a net margin of 10.54%.The firm had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. During the same quarter in the previous year, the company earned $1.29 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts predict that Kirby Corporation will post 6.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

KEX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kirby in a research note on Thursday, January 22nd. Evercore increased their target price on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. BTIG Research lowered their price target on Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Wall Street Zen raised Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Citigroup increased their price objective on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.40.

Hedge Funds Weigh In On Kirby

A number of hedge funds have recently modified their holdings of the stock. Maseco LLP purchased a new stake in shares of Kirby during the fourth quarter worth $27,000. IFP Advisors Inc acquired a new position in Kirby in the 2nd quarter worth about $29,000. First Horizon Corp acquired a new position in Kirby in the 3rd quarter worth about $30,000. Rothschild Investment LLC raised its stake in shares of Kirby by 2,600.0% during the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock worth $30,000 after purchasing an additional 260 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its holdings in shares of Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after buying an additional 114 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.