Analysts Set Kirby Co. (NYSE:KEX) Target Price at $69.25

Shares of Kirby Co. (NYSE:KEXGet Rating) have been assigned an average rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $69.25.

Several brokerages have issued reports on KEX. BTIG Research upgraded shares of Kirby from a “neutral” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Friday, January 28th. StockNews.com started coverage on shares of Kirby in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Stifel Nicolaus increased their price objective on shares of Kirby from $71.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 5th.

In other Kirby news, Director C Sean Day sold 6,000 shares of the firm’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $72.30, for a total value of $433,800.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Scott P. Miller sold 607 shares of the firm’s stock in a transaction on Friday, April 29th. The shares were sold at an average price of $67.08, for a total transaction of $40,717.56. The disclosure for this sale can be found here. Insiders sold 8,357 shares of company stock valued at $596,460 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. King Luther Capital Management Corp lifted its position in shares of Kirby by 138.3% during the fourth quarter. King Luther Capital Management Corp now owns 1,470,531 shares of the shipping company’s stock valued at $87,379,000 after purchasing an additional 853,331 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Kirby by 625.6% during the fourth quarter. Alliancebernstein L.P. now owns 714,844 shares of the shipping company’s stock valued at $42,476,000 after purchasing an additional 616,326 shares in the last quarter. Norges Bank bought a new position in shares of Kirby during the fourth quarter valued at about $35,210,000. Marshall Wace LLP lifted its position in shares of Kirby by 855.7% during the fourth quarter. Marshall Wace LLP now owns 506,744 shares of the shipping company’s stock valued at $30,111,000 after purchasing an additional 453,721 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Kirby during the first quarter valued at about $32,533,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

KEX traded up $1.08 on Friday, reaching $63.00. The company had a trading volume of 311,585 shares, compared to its average volume of 492,805. Kirby has a fifty-two week low of $47.58 and a fifty-two week high of $75.08. The stock has a market cap of $3.80 billion, a P/E ratio of -16.71, a P/E/G ratio of 2.41 and a beta of 1.37. The company’s fifty day moving average is $67.94 and its 200 day moving average is $63.38. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.98.

Kirby (NYSE:KEXGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The shipping company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $610.78 million during the quarter, compared to the consensus estimate of $586.68 million. Kirby had a negative net margin of 9.58% and a positive return on equity of 1.85%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS. On average, sell-side analysts expect that Kirby will post 2.14 EPS for the current year.

Kirby Company Profile (Get Rating)

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.

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