Kirby (NYSE:KEX) Price Target Raised to $140.00

Kirby (NYSE:KEX) had its target price lifted by BTIG Research from $125.00 to $140.00 in a research note published on Thursday, Marketbeat Ratings reports. BTIG Research currently has a buy rating on the shipping company’s stock.

A number of other research analysts have also weighed in on KEX. Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a report on Wednesday, October 8th. Citigroup increased their price target on shares of Kirby from $128.00 to $131.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Evercore ISI raised their price target on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Wolfe Research reaffirmed an “outperform” rating and issued a $134.00 price objective on shares of Kirby in a report on Thursday, January 8th. Finally, Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kirby presently has a consensus rating of “Moderate Buy” and an average price target of $128.17.

Kirby Trading Down 0.4%

Shares of Kirby stock opened at $125.85 on Thursday. The firm’s 50 day simple moving average is $113.28 and its two-hundred day simple moving average is $102.91. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.08 and a beta of 0.88. Kirby has a 12-month low of $79.51 and a 12-month high of $127.21. The company has a current ratio of 1.70, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. Kirby had a net margin of 9.22% and a return on equity of 10.05%. The firm had revenue of $871.16 million for the quarter, compared to analyst estimates of $843.29 million. During the same period in the previous year, the company earned $1.55 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts predict that Kirby will post 6.57 EPS for the current year.

Insider Transactions at Kirby

In related news, VP Ronald A. Dragg sold 2,715 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $110.29, for a total transaction of $299,437.35. Following the sale, the vice president directly owned 10,325 shares of the company’s stock, valued at approximately $1,138,744.25. This represents a 20.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Christian G. O’neil sold 11,145 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $111.68, for a total transaction of $1,244,673.60. Following the sale, the chief operating officer owned 14,835 shares in the company, valued at approximately $1,656,772.80. This represents a 42.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 57,147 shares of company stock worth $6,204,544. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Kirby

Institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Wealth Advisors LLC purchased a new position in Kirby during the fourth quarter worth approximately $203,000. Exchange Traded Concepts LLC purchased a new position in shares of Kirby during the 4th quarter valued at approximately $102,000. Hourglass Capital LLC grew its stake in Kirby by 1.8% in the 4th quarter. Hourglass Capital LLC now owns 75,080 shares of the shipping company’s stock valued at $8,272,000 after acquiring an additional 1,350 shares during the period. Congress Asset Management Co. purchased a new stake in Kirby in the 4th quarter worth $58,385,000. Finally, Assenagon Asset Management S.A. raised its position in Kirby by 94.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 214,979 shares of the shipping company’s stock worth $23,686,000 after acquiring an additional 104,295 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.