Wolfe Research Begins Coverage on Kirby (NYSE:KEX)

Research analysts at Wolfe Research initiated coverage on shares of Kirby (NYSE:KEX) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $126.00 price target on the shipping company’s stock. Wolfe Research’s price target suggests a potential upside of 23.60% from the stock’s previous close.

A number of other equities analysts also recently issued reports on KEX. StockNews.com raised Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Stephens reaffirmed an “overweight” rating and set a $105.00 target price on shares of Kirby in a research report on Monday, February 5th. Stifel Nicolaus raised their price target on Kirby from $100.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, BTIG Research upped their price objective on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $116.00.

Kirby Price Performance

KEX opened at $101.94 on Monday. The firm has a market capitalization of $5.97 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 1.62 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.01. The business’s 50-day moving average is $91.88 and its two-hundred day moving average is $83.24. Kirby has a 1 year low of $66.42 and a 1 year high of $102.55.

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

Insider Activity at Kirby

In other news, VP Scott P. Miller sold 487 shares of the stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $99.78, for a total value of $48,592.86. Following the transaction, the vice president now directly owns 1,000 shares of the company’s stock, valued at $99,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Scott P. Miller sold 487 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $99.78, for a total value of $48,592.86. Following the sale, the vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $99,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christian G. O’neil sold 8,994 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $85.15, for a total transaction of $765,839.10. Following the completion of the sale, the insider now owns 16,079 shares in the company, valued at approximately $1,369,126.85. The disclosure for this sale can be found here. Insiders have sold a total of 56,418 shares of company stock valued at $4,932,521 in the last ninety days. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kirby

Institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp grew its holdings in Kirby by 28.1% during the first quarter. Fifth Third Bancorp now owns 551 shares of the shipping company’s stock worth $53,000 after acquiring an additional 121 shares during the period. Orion Portfolio Solutions LLC increased its holdings in shares of Kirby by 0.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 17,847 shares of the shipping company’s stock valued at $1,388,000 after purchasing an additional 124 shares in the last quarter. Treasurer of the State of North Carolina lifted its stake in shares of Kirby by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 26,157 shares of the shipping company’s stock valued at $2,166,000 after purchasing an additional 130 shares during the period. Swiss National Bank boosted its holdings in Kirby by 0.9% during the third quarter. Swiss National Bank now owns 32,957 shares of the shipping company’s stock worth $2,729,000 after buying an additional 300 shares in the last quarter. Finally, Keybank National Association OH grew its position in Kirby by 3.8% during the third quarter. Keybank National Association OH now owns 8,565 shares of the shipping company’s stock valued at $709,000 after buying an additional 313 shares during the period. Institutional investors and hedge funds own 96.15% of the company’s stock.

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.