ValuEngine cut shares of Kirby (NYSE:KEX) from a buy rating to a hold rating in a report released on Friday morning.
Other analysts have also issued research reports about the company. Wells Fargo & Co dropped their price objective on Kirby from $91.00 to $90.00 and set a buy rating for the company in a research note on Monday, October 29th. Gabelli raised Kirby from a hold rating to a buy rating and set a $96.00 price objective for the company in a research note on Monday, July 30th. Finally, Zacks Investment Research raised Kirby from a sell rating to a hold rating in a research note on Thursday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $89.25.
NYSE:KEX opened at $72.45 on Friday. The company has a market cap of $4.20 billion, a PE ratio of 35.24, a P/E/G ratio of 1.87 and a beta of 1.00. Kirby has a fifty-two week low of $61.90 and a fifty-two week high of $94.05. The company has a quick ratio of 1.06, a current ratio of 1.86 and a debt-to-equity ratio of 0.43.
Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, October 25th. The shipping company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $704.85 million during the quarter, compared to analyst estimates of $780.20 million. Kirby had a return on equity of 5.05% and a net margin of 11.30%. Sell-side analysts anticipate that Kirby will post 2.82 earnings per share for the current year.
In related news, VP Amy D. Husted sold 1,200 shares of the firm’s stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $74.79, for a total value of $89,748.00. Following the completion of the sale, the vice president now owns 15,246 shares of the company’s stock, valued at $1,140,248.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in KEX. UBS Group AG lifted its stake in Kirby by 8.0% in the first quarter. UBS Group AG now owns 10,464 shares of the shipping company’s stock worth $805,000 after acquiring an additional 773 shares during the period. Millennium Management LLC purchased a new stake in Kirby in the first quarter worth $1,502,000. Principal Financial Group Inc. lifted its stake in Kirby by 10.6% in the first quarter. Principal Financial Group Inc. now owns 431,095 shares of the shipping company’s stock worth $33,173,000 after acquiring an additional 41,244 shares during the period. State of Alaska Department of Revenue lifted its stake in Kirby by 40.2% in the second quarter. State of Alaska Department of Revenue now owns 5,860 shares of the shipping company’s stock worth $489,000 after acquiring an additional 1,680 shares during the period. Finally, Amalgamated Bank lifted its stake in Kirby by 9.9% in the second quarter. Amalgamated Bank now owns 11,730 shares of the shipping company’s stock worth $981,000 after acquiring an additional 1,060 shares during the period. 95.62% of the stock is owned by institutional investors.
Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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