Kirby (NYSE:KEX) Reaches New 52-Week High – Should You Buy?

Kirby Corporation (NYSE:KEX) reached a new 52-week high during trading on Wednesday . The company traded as high as $134.69 and last traded at $133.85, with a volume of 711946 shares trading hands. The stock had previously closed at $132.97.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KEX shares. Zacks Research lowered Kirby from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. Citigroup raised their target price on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Wolfe Research reaffirmed an “outperform” rating and set a $136.00 target price on shares of Kirby in a report on Friday, January 30th. Weiss Ratings raised shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, February 18th. Finally, BTIG Research lowered their price objective on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Kirby currently has a consensus rating of “Moderate Buy” and an average target price of $129.40.

Kirby Stock Up 0.7%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 1.53. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 1.19 and a beta of 0.83. The business’s 50 day moving average is $123.16 and its 200 day moving average is $106.42.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.29 EPS. Equities analysts expect that Kirby Corporation will post 6.57 earnings per share for the current year.

Insider Transactions at Kirby

In other news, VP Ronald A. Dragg sold 5,429 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $122.00, for a total value of $662,338.00. Following the completion of the sale, the vice president directly owned 10,399 shares of the company’s stock, valued at $1,268,678. This represents a 34.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott P. Miller sold 3,960 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total transaction of $477,892.80. Following the sale, the vice president owned 3,565 shares of the company’s stock, valued at approximately $430,224.20. This represents a 52.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 68,353 shares of company stock worth $8,579,025. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kirby

A number of institutional investors have recently modified their holdings of KEX. Goldman Sachs Group Inc. increased its stake in shares of Kirby by 30.4% in the first quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after acquiring an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Kirby by 152.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock valued at $18,441,000 after purchasing an additional 110,320 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Kirby by 12.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 87,443 shares of the shipping company’s stock worth $9,683,000 after purchasing an additional 9,802 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Kirby by 38.1% during the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock worth $51,000 after purchasing an additional 125 shares in the last quarter. Finally, Keybank National Association OH raised its stake in shares of Kirby by 5.0% during the 2nd quarter. Keybank National Association OH now owns 8,454 shares of the shipping company’s stock worth $959,000 after purchasing an additional 405 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

About Kirby

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.