Kirby Corporation (NYSE:KEX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Kirby Corporation (NYSE:KEX) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $140.20.

Several analysts have issued reports on the company. Citigroup upped their target price on Kirby from $147.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 9th. BTIG Research upped their target price on Kirby from $135.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 27th. Wolfe Research restated an “outperform” rating and issued a $136.00 target price on shares of Kirby in a report on Friday, January 30th. Finally, Zacks Research upgraded Kirby from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th.

Kirby Stock Up 0.8%

Shares of NYSE:KEX opened at $143.58 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $131.28 and a two-hundred day moving average of $115.75. The stock has a market cap of $7.70 billion, a P/E ratio of 22.68, a PEG ratio of 1.36 and a beta of 0.83. Kirby has a 52-week low of $79.51 and a 52-week high of $144.64.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million during the quarter, compared to analysts’ expectations of $857.82 million. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 EPS. On average, research analysts expect that Kirby will post 6.57 earnings per share for the current year.

Insider Buying and Selling at Kirby

In other news, VP Scott P. Miller sold 3,960 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total transaction of $477,892.80. Following the completion of the transaction, the vice president directly owned 3,565 shares in the company, valued at approximately $430,224.20. This represents a 52.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Amy D. Husted sold 11,667 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $129.33, for a total value of $1,508,893.11. Following the transaction, the vice president owned 14,814 shares of the company’s stock, valued at approximately $1,915,894.62. This represents a 44.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 71,495 shares of company stock worth $9,226,173. Insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Kirby

A number of hedge funds have recently modified their holdings of KEX. Maseco LLP purchased a new position in shares of Kirby during the 4th quarter worth $27,000. First Horizon Corp purchased a new position in shares of Kirby during the 3rd quarter worth $30,000. Rothschild Investment LLC grew its holdings in shares of Kirby by 2,600.0% during the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock worth $30,000 after purchasing an additional 260 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Kirby by 537.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock worth $34,000 after purchasing an additional 258 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Kirby by 50.0% during the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company’s stock worth $44,000 after purchasing an additional 134 shares during the period. 96.15% of the stock is currently 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.