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

StockNews.com upgraded shares of Kirby (NYSE:KEX) from a hold rating to a buy rating in a report issued on Saturday morning.

Other analysts also recently issued research reports about the stock. Bank of America lifted their target price on shares of Kirby from $138.00 to $141.00 and gave the company a buy rating in a report on Tuesday, July 23rd. Stifel Nicolaus boosted their price target on shares of Kirby from $131.00 to $132.00 and gave the stock a buy rating in a research note on Tuesday, May 21st. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Kirby presently has a consensus rating of Buy and a consensus target price of $123.80.

Kirby Stock Up 1.1 %

KEX stock opened at $120.32 on Friday. The firm has a market cap of $7.04 billion, a PE ratio of 28.44, a PEG ratio of 0.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.05 and a current ratio of 1.70. The firm’s 50 day moving average price is $118.18 and its 200-day moving average price is $111.34. Kirby has a one year low of $72.11 and a one year high of $130.90.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.32 by $0.11. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The firm had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. During the same quarter in the previous year, the company earned $0.95 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts anticipate that Kirby will post 5.46 EPS for the current year.

Insider Transactions at Kirby

In other news, CEO David W. Grzebinski sold 3,000 shares of Kirby stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total transaction of $360,930.00. Following the completion of the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at approximately $7,627,533.69. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO David W. Grzebinski sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total value of $360,930.00. Following the completion of the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at $7,627,533.69. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $110.21, for a total transaction of $305,281.70. Following the completion of the sale, the chief operating officer now directly owns 16,079 shares of the company’s stock, valued at $1,772,066.59. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Kirby

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of Kirby in the second quarter valued at about $26,000. ORG Partners LLC purchased a new stake in shares of Kirby in the second quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Kirby during the second quarter worth about $33,000. Blue Trust Inc. increased its stake in shares of Kirby by 91.0% during the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after acquiring an additional 141 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of Kirby during the second quarter worth about $37,000. 96.15% of the stock is 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.