Analysts Set Kirby Corp. (KEX) PT at $62.22
Kirby Corp. (NYSE:KEX) has been given a consensus rating of “Hold” by the thirteen brokerages that are currently covering the firm. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $62.22.
Several equities research analysts recently commented on the stock. Vetr upgraded shares of Kirby Corp. from a “sell” rating to a “hold” rating and set a $64.75 price target on the stock in a research note on Tuesday, June 21st. Jefferies Group reissued a “buy” rating on shares of Kirby Corp. in a research report on Monday, August 1st. Royal Bank Of Canada raised shares of Kirby Corp. from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $68.00 in a research report on Tuesday, September 20th. Wells Fargo & Co. downgraded shares of Kirby Corp. from a “market perform” rating to an “underperform” rating and set a $46.00 price objective on the stock. in a research report on Monday, July 25th. Finally, Credit Suisse Group AG downgraded shares of Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price objective on the stock. in a research report on Tuesday, June 21st.
Kirby Corp. (NYSE:KEX) opened at 58.80 on Tuesday. The firm has a market cap of $3.17 billion, a P/E ratio of 17.25 and a beta of 1.12. The company’s 50 day moving average is $57.54 and its 200 day moving average is $61.37. Kirby Corp. has a 52-week low of $44.63 and a 52-week high of $73.25.
Kirby Corp. (NYSE:KEX) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.02. Kirby Corp. had a net margin of 9.63% and a return on equity of 8.02%. The firm had revenue of $441.60 million for the quarter, compared to analyst estimates of $454.12 million. During the same period last year, the business earned $1.04 EPS. Kirby Corp.’s revenue for the quarter was down 18.7% compared to the same quarter last year. Equities research analysts forecast that Kirby Corp. will post $2.61 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in KEX. Cambiar Investors LLC increased its stake in Kirby Corp. by 94.2% in the second quarter. Cambiar Investors LLC now owns 386,850 shares of the company’s stock worth $24,136,000 after buying an additional 187,616 shares in the last quarter. State Street Corp increased its stake in Kirby Corp. by 0.6% in the first quarter. State Street Corp now owns 1,517,214 shares of the company’s stock worth $91,468,000 after buying an additional 8,771 shares in the last quarter. Baillie Gifford & Co. increased its stake in Kirby Corp. by 2.1% in the second quarter. Baillie Gifford & Co. now owns 3,220,647 shares of the company’s stock worth $200,935,000 after buying an additional 66,587 shares in the last quarter. Prudential Financial Inc. increased its stake in Kirby Corp. by 72.4% in the first quarter. Prudential Financial Inc. now owns 57,130 shares of the company’s stock worth $3,444,000 after buying an additional 24,000 shares in the last quarter. Finally, Monarch Partners Asset Management LLC bought a new stake in Kirby Corp. during the second quarter worth approximately $18,037,000. 99.44% of the stock is currently owned by hedge funds and other institutional investors.
About Kirby Corp.
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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