Kirby (NYSE:KEX) Hits New 12-Month High – What’s Next?

Kirby Corporation (NYSE:KEX)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $134.69 and last traded at $133.85, with a volume of 711946 shares. The stock had previously closed at $132.97.

Analyst Upgrades and Downgrades

KEX has been the topic of a number of recent analyst reports. Zacks Research downgraded Kirby from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. Citigroup lifted their price target on shares of Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Wolfe Research restated an “outperform” rating and issued a $136.00 price objective on shares of Kirby in a research note on Friday, January 30th. BTIG Research lowered their target price on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Finally, Weiss Ratings raised shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.40.

Kirby Price Performance

The firm has a market cap of $6.99 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.83. The stock’s 50-day moving average is $124.01 and its 200-day moving average is $106.78. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27.

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

Insider Buying and Selling at Kirby

In related news, CFO Raj Kumar sold 3,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $132.70, for a total transaction of $398,100.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Amy D. Husted sold 11,667 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $129.33, for a total value of $1,508,893.11. Following the completion of the transaction, the vice president directly owned 14,814 shares of the company’s stock, valued at approximately $1,915,894.62. This trade represents a 44.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 82,640 shares of company stock valued at $10,470,847 over the last quarter. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Kirby

A number of institutional investors have recently bought and sold shares of the business. Bell Investment Advisors Inc increased its holdings in Kirby by 67.1% in the 2nd 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. State of Wyoming boosted its position in shares of Kirby by 12.8% during the 3rd quarter. State of Wyoming now owns 1,003 shares of the shipping company’s stock valued at $84,000 after acquiring an additional 114 shares in the last quarter. Fifth Third Bancorp increased its stake in Kirby by 18.2% in the fourth quarter. Fifth Third Bancorp now owns 739 shares of the shipping company’s stock valued at $81,000 after acquiring an additional 114 shares during the period. Xponance Inc. raised its position in Kirby by 1.8% in the third quarter. Xponance Inc. now owns 6,809 shares of the shipping company’s stock worth $568,000 after purchasing an additional 118 shares in the last quarter. Finally, Procyon Advisors LLC raised its position in Kirby by 4.6% in the fourth quarter. Procyon Advisors LLC now owns 2,733 shares of the shipping company’s stock worth $301,000 after purchasing an additional 121 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

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.