Kirby Corporation (NYSE:KEX) Short Interest Update

Kirby Corporation (NYSE:KEX) was the recipient of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 1,578,528 shares, a decrease of 16.8% from the January 15th total of 1,897,258 shares. Based on an average daily trading volume, of 1,050,227 shares, the short-interest ratio is currently 1.5 days. Approximately 2.9% of the shares of the stock are short sold. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,050,227 shares, the short-interest ratio is currently 1.5 days.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Zacks Research lowered Kirby from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. BTIG Research reduced their price target on Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Wolfe Research reiterated an “outperform” rating and issued a $136.00 price objective on shares of Kirby in a research report on Friday, January 30th. Finally, Evercore raised their target price on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Kirby has an average rating of “Moderate Buy” and a consensus price target of $129.40.

Insider Transactions at Kirby

In related news, COO Christian G. O’neil sold 11,145 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $111.68, for a total value of $1,244,673.60. Following the completion of the sale, the chief operating officer owned 14,835 shares in the company, valued at $1,656,772.80. The trade was a 42.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott P. Miller sold 3,960 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $120.68, for a total transaction of $477,892.80. Following the transaction, the vice president owned 3,565 shares in the company, valued at $430,224.20. The trade was a 52.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 63,898 shares of company stock valued at $7,081,741. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Kirby

A number of institutional investors have recently bought and sold shares of the stock. Maseco LLP bought a new stake in Kirby during the 4th quarter valued at approximately $27,000. IFP Advisors Inc purchased a new position in shares of Kirby in the 2nd quarter valued at approximately $29,000. First Horizon Corp bought a new stake in shares of Kirby during the third quarter valued at approximately $30,000. Rothschild Investment LLC raised its holdings in Kirby by 2,600.0% in the fourth quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock worth $30,000 after purchasing an additional 260 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its position in Kirby by 67.1% during the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after buying an additional 114 shares during the period. 96.15% of the stock is owned by institutional investors.

Kirby Trading Up 1.1%

NYSE KEX traded up $1.39 on Wednesday, hitting $128.07. The company’s stock had a trading volume of 575,043 shares, compared to its average volume of 861,539. The firm has a market cap of $6.94 billion, a P/E ratio of 20.23, a PEG ratio of 1.12 and a beta of 0.88. Kirby has a 52-week low of $79.51 and a 52-week high of $132.18. The company’s 50-day simple moving average is $119.31 and its 200 day simple moving average is $104.24. The company has a current ratio of 1.70, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. Kirby had a return on equity of 10.55% and a net margin of 10.54%.The company had revenue of $851.78 million during the quarter, compared to the consensus estimate of $857.82 million. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.29 earnings per share. Research analysts predict that Kirby will post 6.57 EPS for the current fiscal year.

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.