Commonwealth Bank of Australia held its stake in shares of Kirby Corporation (NYSE:KEX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,604 shares of the shipping company’s stock at the end of the 2nd quarter. Commonwealth Bank of Australia’s holdings in Kirby Corporation were worth $842,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Huntington National Bank raised its stake in Kirby Corporation by 11.3% in the 2nd quarter. Huntington National Bank now owns 2,453 shares of the shipping company’s stock worth $164,000 after purchasing an additional 249 shares in the last quarter. World Asset Management Inc raised its stake in Kirby Corporation by 0.9% in the 1st quarter. World Asset Management Inc now owns 3,300 shares of the shipping company’s stock worth $233,000 after purchasing an additional 28 shares in the last quarter. LS Investment Advisors LLC raised its stake in Kirby Corporation by 16.9% in the 2nd quarter. LS Investment Advisors LLC now owns 4,291 shares of the shipping company’s stock worth $287,000 after purchasing an additional 620 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Kirby Corporation by 1.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,701 shares of the shipping company’s stock worth $330,000 after purchasing an additional 67 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Kirby Corporation in the 1st quarter worth about $334,000.
Several analysts have weighed in on the stock. BidaskClub upgraded shares of Kirby Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Zacks Investment Research cut shares of Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Cowen and Company reiterated a “hold” rating and issued a $70.00 price objective on shares of Kirby Corporation in a research note on Friday, July 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $69.00 price objective on shares of Kirby Corporation in a research note on Friday, July 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Kirby Corporation in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Kirby Corporation has an average rating of “Hold” and an average price target of $71.25.
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Kirby Corporation (KEX) opened at 64.15 on Friday. The firm has a market capitalization of $3.46 billion, a PE ratio of 29.40 and a beta of 1.01. The stock has a 50 day moving average of $62.06 and a 200 day moving average of $66.31. Kirby Corporation has a 12 month low of $55.11 and a 12 month high of $74.50.
Kirby Corporation (NYSE:KEX) last issued its earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. The firm had revenue of $473.33 million during the quarter, compared to analyst estimates of $478.85 million. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $0.72 earnings per share. On average, equities analysts predict that Kirby Corporation will post $1.95 earnings per share for the current fiscal year.
About Kirby Corporation
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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