Kirby Corporation (NYSE:KEX) Stock Has Consensus Price Target of $169.17 According to Analysts

Shares of Kirby Corporation (NYSE:KEX) have earned an average rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $171.43.

A number of research analysts have issued reports on the company. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, September 14th. Bank of America raised their price target on shares of Kirby from $169.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. BTIG Research reaffirmed a “buy” rating and set a $170.00 price target on shares of Kirby in a report on Wednesday, July 29th. Stephens lifted their price target on shares of Kirby from $170.00 to $175.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wall Street Zen lowered shares of Kirby from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th.

Kirby Trading Down 2.4%

Shares of KEX opened at $140.54 on Tuesday. Kirby has a 52-week low of $101.64 and a 52-week high of $157.69. The business’s fifty day moving average is $137.38 and its 200-day moving average is $136.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 1.68. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.30 and a beta of 0.84.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Wednesday, October 28th. The shipping company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.09. Kirby had a return on equity of 10.94% and a net margin of 10.39%. The company had revenue of $977.21 million during the quarter, compared to analysts’ expectations of $938.84 million. During the same quarter in the previous year, the firm earned $1.65 EPS. Kirby’s revenue was up 12.2% on a year-over-year basis. Equities analysts anticipate that Kirby will post 7.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Kirby

A number of hedge funds and other institutional investors have recently bought and sold shares of KEX. BlackRock Inc. bought a new stake in shares of Kirby during the 2nd quarter valued at about $733,274,000. Dimensional Fund Advisors LP grew its position in Kirby by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,617,538 shares of the shipping company’s stock worth $347,829,000 after purchasing an additional 133,030 shares in the last quarter. Jennison Associates LLC increased its position in shares of Kirby by 3.3% during the first quarter. Jennison Associates LLC now owns 758,029 shares of the shipping company’s stock valued at $100,727,000 after acquiring an additional 24,147 shares during the last quarter. Congress Asset Management Co. grew its stake in Kirby by 8.2% in the 3rd quarter. Congress Asset Management Co. now owns 761,099 shares of the shipping company’s stock valued at $99,894,000 after purchasing an additional 57,371 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Kirby during the 2nd quarter valued at $69,359,000. Institutional investors own 96.15% of the company’s stock.

About Kirby

Kirby Corporation is a Houston-based marine transportation and industrial services company. Through its marine transportation operations, the company is the largest tank barge operator in the United States, transporting bulk liquid products on the nation’s inland and coastal waterways.

Kirby’s marine transportation business carries petrochemicals, refined petroleum products, black oil, agricultural chemicals and other bulk liquids for industrial customers. Its operations primarily serve the U.S.