Stephens Downgrades Kirby Corp. (KEX) to Equal Weight
Kirby Corp. (NYSE:KEX) was downgraded by equities research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday. They presently have a $68.00 target price on the stock, down from their prior target price of $70.00. Stephens’ price target indicates a potential upside of 11.38% from the company’s previous close.
KEX has been the subject of several other reports. Seaport Global Securities began coverage on shares of Kirby Corp. in a research report on Thursday, November 10th. They set a “neutral” rating and a $55.00 price target for the company. Zacks Investment Research lowered shares of Kirby Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Stifel Nicolaus upped their price target on shares of Kirby Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a research report on Wednesday, September 28th. RBC Capital Markets upgraded shares of Kirby Corp. from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $68.00 in a research report on Tuesday, September 20th. Finally, Royal Bank Of Canada upgraded shares of Kirby Corp. from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $55.00 to $68.00 in a research report on Tuesday, September 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Kirby Corp. presently has a consensus rating of “Hold” and a consensus target price of $62.08.
Shares of Kirby Corp. (NYSE:KEX) opened at 61.05 on Monday. The company has a 50-day moving average price of $61.15 and a 200-day moving average price of $61.12. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 20.60 and a beta of 1.03. Kirby Corp. has a 12 month low of $44.63 and a 12 month high of $73.25.
Kirby Corp. (NYSE:KEX) last released its earnings results on Wednesday, October 26th. The company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. The business had revenue of $434.70 million for the quarter, compared to analysts’ expectations of $274.21 million. Kirby Corp. had a return on equity of 6.85% and a net margin of 8.78%. The firm’s revenue was down 18.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 earnings per share. On average, equities analysts anticipate that Kirby Corp. will post $2.60 EPS for the current year.
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Hedge funds have recently modified their holdings of the company. Capital World Investors increased its position in shares of Kirby Corp. by 214.8% in the third quarter. Capital World Investors now owns 1,747,000 shares of the company’s stock worth $108,594,000 after buying an additional 1,192,000 shares in the last quarter. Lazard Asset Management LLC acquired a new position in shares of Kirby Corp. during the third quarter worth $69,786,000. RS Investment Management Co. LLC acquired a new position in shares of Kirby Corp. during the second quarter worth $52,392,000. Wells Fargo & Company MN increased its position in shares of Kirby Corp. by 46.2% in the third quarter. Wells Fargo & Company MN now owns 2,307,814 shares of the company’s stock worth $143,452,000 after buying an additional 729,001 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new position in shares of Kirby Corp. during the second quarter worth $39,343,000. Institutional investors and hedge funds own 99.40% of the company’s stock.
Kirby Corp. Company Profile
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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