Kirby (NYSE:KEX) Rating Increased to Buy at StockNews.com

Kirby (NYSE:KEX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

KEX has been the subject of several other research reports. BTIG Research raised their target price on Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Stephens restated an “overweight” rating and issued a $105.00 target price on shares of Kirby in a research note on Monday, February 5th.

Kirby Stock Performance

KEX opened at $95.08 on Tuesday. The stock has a market cap of $5.56 billion, a PE ratio of 25.56, a P/E/G ratio of 1.64 and a beta of 1.21. Kirby has a 1 year low of $66.42 and a 1 year high of $101.17. The stock’s 50 day simple moving average is $90.58 and its 200-day simple moving average is $82.68. The company has a current ratio of 1.68, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, February 1st. The shipping company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. Kirby had a net margin of 7.21% and a return on equity of 7.12%. The company had revenue of $799.18 million during the quarter, compared to the consensus estimate of $778.70 million. During the same period last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts forecast that Kirby will post 4.94 EPS for the current year.

Insider Transactions at Kirby

In related news, VP Scott P. Miller sold 1,828 shares of Kirby 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 completion of the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at $79,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Ronald A. Dragg sold 1,413 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $84.68, for a total transaction of $119,652.84. Following the transaction, the vice president now owns 10,651 shares of the company’s stock, valued at $901,926.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Scott P. Miller sold 1,828 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $79.60, for a total value of $145,508.80. Following the completion of 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. Over the last quarter, insiders have sold 56,418 shares of company stock worth $4,932,521. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Benson Investment Management Company Inc. acquired a new position in Kirby in the first quarter valued at approximately $3,659,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Kirby in the 4th quarter valued at approximately $165,000. Quadrature Capital Ltd boosted its position in shares of Kirby by 166.6% during the fourth quarter. Quadrature Capital Ltd now owns 10,934 shares of the shipping company’s stock worth $859,000 after purchasing an additional 6,832 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Kirby by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,097,723 shares of the shipping company’s stock worth $478,549,000 after acquiring an additional 81,808 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Kirby by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 1,828,758 shares of the shipping company’s stock valued at $143,521,000 after purchasing an additional 63,611 shares during the period. 96.15% of the stock is currently owned by institutional investors and hedge funds.

About Kirby

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.