Kirby (NYSE:KEX) Stock Rating Lowered by StockNews.com

Kirby (NYSE:KEX) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Kirby Trading Up 1.0 %

Shares of NYSE KEX traded up $1.07 during trading on Thursday, reaching $105.12. The company had a trading volume of 410,278 shares, compared to its average volume of 685,835. The stock has a market cap of $6.03 billion, a P/E ratio of 20.18, a PEG ratio of 0.69 and a beta of 1.21. The company’s fifty day moving average price is $117.70 and its 200-day moving average price is $119.24. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. Kirby has a 12 month low of $74.88 and a 12 month high of $132.21.

Kirby (NYSE:KEX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. The business had revenue of $831.10 million for the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share. As a group, research analysts expect that Kirby will post 5.45 earnings per share for the current year.

Insider Buying and Selling at Kirby

In related news, COO Christian G. O’neil sold 15,041 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the transaction, the chief operating officer now directly owns 7,746 shares of the company’s stock, valued at $1,006,980. This represents a 66.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Ross Stewart sold 8,000 shares of Kirby stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the completion of the sale, the director now directly owns 15,488 shares of the company’s stock, valued at approximately $1,985,716.48. This trade represents a 34.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,354 shares of company stock valued at $3,275,455. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KEX. Farther Finance Advisors LLC raised its position in shares of Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after purchasing an additional 168 shares during the period. ORG Wealth Partners LLC bought a new stake in Kirby during the 3rd quarter valued at $30,000. Mark Sheptoff Financial Planning LLC acquired a new position in Kirby during the second quarter worth $37,000. Brooklyn Investment Group bought a new position in shares of Kirby in the third quarter valued at $42,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Kirby during the third quarter valued at about $52,000. Institutional investors own 96.15% of the company’s stock.

Kirby Company Profile

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.