Kirby (NYSE:KEX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Kirby (NYSE:KEX) from a hold rating to a buy rating in a report released on Monday morning.

Separately, Stephens reaffirmed an overweight rating and set a $105.00 price target on shares of Kirby in a report on Monday, February 5th.

Kirby Trading Up 0.3 %

Shares of NYSE KEX opened at $95.33 on Monday. Kirby has a twelve month low of $66.42 and a twelve month high of $95.79. The company has a current ratio of 1.68, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $86.12 and a 200-day simple moving average of $81.50. The stock has a market capitalization of $5.57 billion, a PE ratio of 25.63, a PEG ratio of 1.61 and a beta of 1.20.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, February 1st. The shipping company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. The business had revenue of $799.18 million during the quarter, compared to analysts’ expectations of $778.70 million. Kirby had a return on equity of 7.12% and a net margin of 7.21%. The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 earnings per share. On average, equities analysts forecast that Kirby will post 4.94 earnings per share for the current year.

Insider Activity at Kirby

In related news, VP Scott P. Miller sold 1,828 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $79.60, for a total value of $145,508.80. Following the transaction, the vice president now owns 1,000 shares in the company, valued at approximately $79,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Kirby news, insider Christian G. O’neil sold 8,994 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $85.15, for a total transaction of $765,839.10. Following the transaction, the insider now owns 16,079 shares in the company, valued at approximately $1,369,126.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott P. Miller sold 1,828 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $79.60, for a total value of $145,508.80. Following the transaction, the vice president now owns 1,000 shares in the company, valued at approximately $79,600. The disclosure for this sale can be found here. Insiders have sold 55,931 shares of company stock worth $4,883,929 in the last quarter. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Kirby

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 1832 Asset Management L.P. grew its holdings in shares of Kirby by 87.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 404 shares of the shipping company’s stock worth $31,000 after acquiring an additional 188 shares during the period. Coppell Advisory Solutions Corp. acquired a new stake in shares of Kirby in the 4th quarter worth approximately $45,000. Point72 Hong Kong Ltd purchased a new stake in Kirby in the 1st quarter valued at approximately $47,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Kirby in the 4th quarter valued at approximately $53,000. Finally, Quest Partners LLC purchased a new stake in Kirby in the 4th quarter valued at approximately $58,000. Institutional investors and hedge funds 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.