Analysts Set Kirby Corporation (NYSE:KEX) PT at $132.60

Shares of Kirby Corporation (NYSE:KEX) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $132.60.

Several equities analysts have recently issued reports on the stock. Zacks Research raised shares of Kirby from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. Evercore reissued an “outperform” rating and issued a $138.00 price objective on shares of Kirby in a research note on Monday, March 9th. BTIG Research lowered their target price on Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Wolfe Research reaffirmed an “outperform” rating and set a $136.00 target price on shares of Kirby in a report on Friday, January 30th. Finally, Weiss Ratings lowered Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th.

Kirby Stock Performance

Kirby stock opened at $130.59 on Monday. The business has a 50 day moving average of $126.39 and a 200-day moving average of $109.23. The company has a market capitalization of $7.00 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.17 and a beta of 0.83. Kirby has a 1 year low of $79.51 and a 1 year high of $134.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96.

Kirby (NYSE:KEX) last posted its earnings results on Thursday, January 29th. The shipping company reported $1.68 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 business had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. During the same period last year, the company earned $1.29 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Kirby will post 6.57 earnings per share for the current year.

Insider Activity at Kirby

In other Kirby news, 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 completion of the sale, the vice president owned 3,565 shares of the company’s stock, 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, CEO David W. Grzebinski sold 34,152 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the transaction, the chief executive officer owned 98,241 shares of the company’s stock, valued at approximately $12,776,242.05. The trade was a 25.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 71,495 shares of company stock valued at $9,226,173 over the last ninety days. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Kirby

Several large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its stake in Kirby by 18.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,079 shares of the shipping company’s stock worth $119,000 after buying an additional 168 shares during the last quarter. Corient Private Wealth LLC boosted its position in Kirby by 2.3% during the fourth quarter. Corient Private Wealth LLC now owns 31,644 shares of the shipping company’s stock valued at $3,487,000 after acquiring an additional 721 shares during the last quarter. Virtu Financial LLC acquired a new stake in Kirby during the 4th quarter worth about $220,000. State of Tennessee Department of Treasury grew its holdings in Kirby by 62.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 25,638 shares of the shipping company’s stock worth $3,017,000 after acquiring an additional 9,868 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Kirby by 136.9% in the 4th quarter. Mackenzie Financial Corp now owns 27,591 shares of the shipping company’s stock worth $3,056,000 after acquiring an additional 15,945 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

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.