Kirby (NYSE:KEX) Stock Price Down 8% – Time to Sell?

Kirby Corporation (NYSE:KEX) shares dropped 8% during mid-day trading on Wednesday . The stock traded as low as $132.63 and last traded at $133.7290. Approximately 526,904 shares changed hands during trading, a decline of 25% from the average session volume of 700,713 shares. The stock had previously closed at $145.39.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KEX. Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 17th. BTIG Research reiterated a “buy” rating and set a $170.00 price target on shares of Kirby in a report on Wednesday. Bank of America boosted their price objective on shares of Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Citigroup raised their target price on shares of Kirby from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Evercore reissued an “outperform” rating and set a $158.00 target price on shares of Kirby in a research report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.20.

Kirby Stock Performance

The firm’s 50 day moving average price is $141.47 and its 200-day moving average price is $136.20. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 1.27 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.59 and a quick ratio of 1.01.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.63 by $0.04. Kirby had a net margin of 10.51% and a return on equity of 10.62%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. On average, analysts anticipate that Kirby Corporation will post 7.06 earnings per share for the current year.

Insider Activity at Kirby

In other Kirby news, COO Christian G. O’neil sold 11,287 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.93, for a total value of $1,647,111.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ronald A. Dragg sold 1,726 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $145.01, for a total value of $250,287.26. Following the completion of the sale, the vice president owned 8,673 shares of the company’s stock, valued at $1,257,671.73. This represents a 16.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 17,691 shares of company stock worth $2,579,036 in the last three months. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Kirby by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,617,538 shares of the shipping company’s stock worth $347,829,000 after purchasing an additional 133,030 shares during the period. Goldman Sachs Group Inc. boosted its stake in Kirby by 92.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company’s stock worth $287,803,000 after buying an additional 1,251,700 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Kirby by 72.5% in the 2nd quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock valued at $258,900,000 after buying an additional 959,209 shares during the period. First Trust Advisors LP increased its holdings in Kirby by 109.4% in the 4th quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company’s stock valued at $248,640,000 after buying an additional 1,178,963 shares during the period. Finally, Select Equity Group L.P. raised its stake in shares of Kirby by 10.8% in the 2nd quarter. Select Equity Group L.P. now owns 2,165,929 shares of the shipping company’s stock valued at $245,638,000 after buying an additional 211,231 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

About Kirby

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.