Kirby (NYSE:KEX) Given New $138.00 Price Target at Bank of America

Kirby (NYSE:KEXGet Free Report) had its price target boosted by analysts at Bank of America from $131.00 to $138.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. Bank of America‘s target price points to a potential upside of 16.37% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Wolfe Research started coverage on Kirby in a research note on Monday, April 22nd. They issued an “outperform” rating and a $126.00 target price for the company. Stifel Nicolaus lifted their target price on Kirby from $131.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. BTIG Research boosted their price target on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $123.20.

Check Out Our Latest Analysis on Kirby

Kirby Trading Down 0.1 %

Shares of NYSE:KEX opened at $118.59 on Monday. The firm has a market capitalization of $6.94 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 0.77 and a beta of 1.17. The firm has a fifty day moving average of $112.88 and a two-hundred day moving average of $94.07. The company has a quick ratio of 1.12, a current ratio of 1.81 and a debt-to-equity ratio of 0.33. Kirby has a 12-month low of $72.11 and a 12-month high of $124.92.

Kirby (NYSE:KEXGet Free Report) last announced its quarterly earnings data on Friday, April 26th. The shipping company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.22. Kirby had a return on equity of 7.96% and a net margin of 8.01%. The company had revenue of $808.00 million during the quarter, compared to the consensus estimate of $784.49 million. During the same quarter last year, the company earned $0.68 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts expect that Kirby will post 5.29 EPS for the current fiscal year.

Insider Transactions at Kirby

In other news, VP Amy D. Husted sold 7,853 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $122.50, for a total transaction of $961,992.50. Following the completion of the transaction, the vice president now directly owns 5,280 shares in the company, valued at approximately $646,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Dorman Lynn Strahan sold 3,423 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $95.11, for a total transaction of $325,561.53. Following the transaction, the insider now owns 21,054 shares in the company, valued at $2,002,445.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Amy D. Husted sold 7,853 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $122.50, for a total transaction of $961,992.50. Following the transaction, the vice president now owns 5,280 shares in the company, valued at approximately $646,800. The disclosure for this sale can be found here. Insiders sold a total of 43,162 shares of company stock worth $4,752,143 in the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KEX. Vanguard Group Inc. increased its holdings in Kirby by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,097,723 shares of the shipping company’s stock valued at $478,549,000 after acquiring an additional 81,808 shares during the last quarter. Morgan Stanley lifted its position in shares of Kirby by 0.9% in the 3rd quarter. Morgan Stanley now owns 4,213,354 shares of the shipping company’s stock worth $348,866,000 after purchasing an additional 38,664 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Kirby by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,624,271 shares of the shipping company’s stock worth $205,954,000 after acquiring an additional 62,378 shares in the last quarter. FMR LLC raised its stake in shares of Kirby by 30.9% during the 3rd quarter. FMR LLC now owns 2,100,068 shares of the shipping company’s stock worth $173,886,000 after acquiring an additional 495,541 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Kirby by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 1,828,758 shares of the shipping company’s stock worth $143,521,000 after acquiring an additional 63,611 shares in the last quarter. Institutional investors own 96.15% of the company’s stock.

Kirby Company Profile

(Get Free Report)

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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Analyst Recommendations for Kirby (NYSE:KEX)

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