Citigroup Forecasts Strong Price Appreciation for Kirby (NYSE:KEX) Stock

Kirby (NYSE:KEX) had its target price lifted by analysts at Citigroup from $165.00 to $170.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. Citigroup’s target price indicates a potential upside of 29.44% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Bank of America boosted their target price on shares of Kirby from $169.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Evercore reissued an “outperform” rating and set a $158.00 price objective on shares of Kirby in a report on Friday, May 1st. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 17th. Wall Street Zen raised Kirby from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, BTIG Research reaffirmed a “buy” rating and set a $170.00 target price on shares of Kirby in a report on Wednesday. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Kirby has an average rating of “Moderate Buy” and a consensus target price of $163.20.

Kirby Stock Performance

NYSE:KEX traded down $1.00 on Friday, reaching $131.34. 428,232 shares of the company’s stock were exchanged, compared to its average volume of 702,232. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.59 and a quick ratio of 1.01. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.12 and a beta of 0.83. Kirby has a 52 week low of $79.51 and a 52 week high of $157.69. The stock has a fifty day simple moving average of $140.86 and a 200-day simple moving average of $136.29.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Wednesday, July 29th. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.04. The company had revenue of $922.40 million for the quarter, compared to analyst estimates of $870.38 million. Kirby had a net margin of 10.18% and a return on equity of 10.49%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.67 earnings per share. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, sell-side analysts predict that Kirby will post 7.28 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Christian G. O’neil sold 11,287 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.93, for a total transaction of $1,647,111.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Amy D. Husted sold 4,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.43, for a total value of $581,720.00. Following the completion of the sale, the vice president directly owned 10,814 shares of the company’s stock, valued at $1,572,680.02. The trade was a 27.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 17,691 shares of company stock worth $2,579,036. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Kirby

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in Kirby by 5.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,617,538 shares of the shipping company’s stock worth $347,829,000 after purchasing an additional 133,030 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Kirby by 92.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company’s stock valued at $287,803,000 after purchasing an additional 1,251,700 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Kirby by 72.5% in the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock worth $258,900,000 after purchasing an additional 959,209 shares during the period. First Trust Advisors LP boosted its position in shares of Kirby by 109.4% in the fourth quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company’s stock worth $248,640,000 after purchasing an additional 1,178,963 shares during the period. Finally, Select Equity Group L.P. increased its stake in shares of Kirby by 10.8% in the second quarter. Select Equity Group L.P. now owns 2,165,929 shares of the shipping company’s stock worth $245,638,000 after purchasing an additional 211,231 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

About Kirby

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.