Kirby (NYSE:KEX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Kirby (NYSE:KEX) from a hold rating to a buy rating in a report released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also commented on KEX. BTIG Research reiterated a “buy” rating and set a $170.00 price objective on shares of Kirby in a report on Wednesday, July 29th. Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 14th. Stephens upped their target price on Kirby from $170.00 to $175.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. JPMorgan Chase & Co. increased their price target on Kirby from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Finally, Citigroup lowered their price target on Kirby from $170.00 to $169.00 and set a “buy” rating for the company in a report on Thursday, October 8th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $171.43.

Kirby Price Performance

Kirby stock opened at $124.08 on Friday. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.12 and a beta of 0.81. The firm’s fifty day moving average is $136.15 and its 200 day moving average is $136.69. The company has a quick ratio of 1.12, a current ratio of 1.68 and a debt-to-equity ratio of 0.30. Kirby has a 52-week low of $105.10 and a 52-week high of $157.69.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, October 28th. The shipping company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.09. The business had revenue of $977.21 million during the quarter, compared to analyst estimates of $938.84 million. Kirby had a return on equity of 10.94% and a net margin of 10.39%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same period last year, the company earned $1.65 EPS. Sell-side analysts forecast that Kirby will post 7.26 EPS for the current fiscal year.

Insider Transactions at Kirby

In other news, CEO David Grzebinski sold 18,310 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $141.32, for a total transaction of $2,587,569.20. Following the transaction, the chief executive officer owned 79,931 shares in the company, valued at $11,295,848.92. This trade represents a 18.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of Kirby

Several large investors have recently made changes to their positions in KEX. Provenance Wealth Advisors LLC purchased a new position in Kirby during the third quarter worth approximately $27,000. Pension & Wealth Management Advisors Inc. acquired a new position in Kirby during the third quarter worth $45,000. Parkside Financial Bank & Trust grew its holdings in Kirby by 488.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 477 shares of the shipping company’s stock valued at $65,000 after buying an additional 396 shares in the last quarter. Fulcrum Asset Management LLP purchased a new stake in Kirby in the 3rd quarter valued at $67,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in Kirby by 18.2% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 520 shares of the shipping company’s stock valued at $69,000 after buying an additional 80 shares in the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Company Profile

Kirby Corporation is a marine transportation and services company founded in 1921 and headquartered in Houston, Texas. Its marine transportation business moves bulk liquid products by tank barge and towboat across U.S. inland waterways and along the coast. Cargoes include petrochemicals, refined petroleum products and other industrial liquids.

The company also provides coastal marine transportation, serving customers in U.S. coastal markets. Its vessels and barges support the movement of liquid commodities between ports and other destinations.

Through its distribution and services business, Kirby sells and services diesel engines, transmissions, reduction gears, pumps and related equipment.