Kirby (NYSE:KEX) CFO Sells $398,100.00 in Stock

Kirby Corporation (NYSE:KEX) CFO Raj Kumar sold 3,000 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $132.70, for a total value of $398,100.00. Following the completion of the transaction, the chief financial officer directly owned 4,494 shares in the company, valued at $596,353.80. The trade was a 40.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Kirby Trading Down 1.1%

Shares of Kirby stock traded down $1.50 during trading on Wednesday, hitting $132.33. 140,281 shares of the company were exchanged, compared to its average volume of 761,852. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96. The firm has a market capitalization of $7.10 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The firm’s fifty day moving average price is $123.16 and its 200 day moving average price is $106.42. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $134.69.

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

Analyst Upgrades and Downgrades

KEX has been the subject of several recent analyst reports. Zacks Research downgraded Kirby from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. Citigroup raised their target price on shares of Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Wolfe Research reiterated an “outperform” rating and issued a $136.00 price target on shares of Kirby in a report on Friday, January 30th. Weiss Ratings upgraded shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Finally, BTIG Research reduced their target price on shares of Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Kirby currently has an average rating of “Moderate Buy” and an average target price of $129.40.

Institutional Investors Weigh In On Kirby

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maseco LLP bought a new position in shares of Kirby in the 4th quarter valued at about $27,000. First Horizon Corp acquired a new position in Kirby during the third quarter valued at approximately $30,000. Rothschild Investment LLC grew its stake in Kirby by 2,600.0% in the fourth quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 260 shares in the last quarter. Bell Investment Advisors Inc increased its position in shares of Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after purchasing an additional 114 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake 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 in the last quarter. 96.15% of the stock is owned by institutional investors.

Kirby Company Profile

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.