Kirby (NYSE:KEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Kirby (NYSE:KEX) from a hold rating to a buy rating in a research note released on Tuesday morning.

Several other research analysts also recently issued reports on the stock. BTIG Research upped their price target on shares of Kirby from $100.00 to $115.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Stephens reiterated an overweight rating and set a $105.00 price target on shares of Kirby in a research report on Monday, February 5th.

Kirby Trading Up 0.9 %

Shares of Kirby stock opened at $95.83 on Tuesday. The firm has a market capitalization of $5.61 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.61 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.01. The company’s fifty day moving average price is $91.01 and its two-hundred day moving average price is $82.85. Kirby has a 52-week low of $66.42 and a 52-week high of $101.17.

Kirby (NYSE:KEX) last posted its earnings results on Thursday, February 1st. The shipping company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.01. Kirby had a net margin of 7.21% and a return on equity of 7.12%. The business had revenue of $799.18 million for the quarter, compared to analyst estimates of $778.70 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, analysts expect that Kirby will post 4.94 EPS for the current year.

Insider Activity at Kirby

In related news, insider Christian G. O’neil sold 8,994 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $85.15, for a total transaction of $765,839.10. Following the completion of the sale, the insider now directly owns 16,079 shares of the company’s stock, valued at approximately $1,369,126.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Christian G. O’neil sold 8,994 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $85.15, for a total transaction of $765,839.10. Following the completion of the transaction, the insider now directly owns 16,079 shares of the company’s stock, valued at approximately $1,369,126.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David W. Grzebinski sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $85.44, for a total transaction of $1,537,920.00. Following the transaction, the chief executive officer now directly owns 66,399 shares of the company’s stock, valued at $5,673,130.56. The disclosure for this sale can be found here. Insiders have sold 56,418 shares of company stock worth $4,932,521 in the last ninety days. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Kirby

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Kirby by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,015,915 shares of the shipping company’s stock valued at $498,118,000 after purchasing an additional 64,420 shares during the last quarter. VELA Investment Management LLC lifted its holdings in shares of Kirby by 11.3% during the fourth quarter. VELA Investment Management LLC now owns 139,848 shares of the shipping company’s stock worth $10,975,000 after buying an additional 14,201 shares in the last quarter. Readystate Asset Management LP lifted its holdings in shares of Kirby by 36.1% during the fourth quarter. Readystate Asset Management LP now owns 161,143 shares of the shipping company’s stock worth $12,647,000 after buying an additional 42,743 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Kirby by 3.4% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 738,377 shares of the shipping company’s stock worth $57,947,000 after purchasing an additional 24,040 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of Kirby by 168.1% in the third quarter. Campbell & CO Investment Adviser LLC now owns 10,891 shares of the shipping company’s stock worth $902,000 after purchasing an additional 6,828 shares during the period. 96.15% of the stock is owned by 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.