Kirby Corp. (NYSE:KEX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Kirby Corporation conducts operations in two business segments: marine transportation and diesel repair. The Company’s marine transportation segment is engaged in the inland transportation of industrial chemicals, petrochemical feedstocks, agricultural chemicals and refined petroleum products by tank barge; and in the offshore transportation of refined petroleum products by tanker and tank barge, and dry-bulk, container and palletized cargoes by barge and break-bulk ship. The Company’s diesel repair segment is engaged in the sale, overhaul and repair of diesel engines and related parts sales. “
Other analysts have also recently issued reports about the company. Wells Fargo & Co. reaffirmed a “sell” rating on shares of Kirby Corp. in a research report on Tuesday, September 20th. Jefferies Group reissued a “buy” rating on shares of Kirby Corp. in a report on Monday, August 29th. Credit Suisse Group AG cut Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price target for the company. in a report on Tuesday, June 21st. Royal Bank Of Canada raised Kirby Corp. from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $68.00 in a report on Tuesday, September 20th. Finally, Vetr cut Kirby Corp. from a “hold” rating to a “sell” rating and set a $53.00 price target for the company. in a report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Kirby Corp. has a consensus rating of “Hold” and a consensus target price of $62.85.
Shares of Kirby Corp. (NYSE:KEX) opened at 61.89 on Tuesday. The stock has a 50 day moving average price of $56.59 and a 200-day moving average price of $61.40. Kirby Corp. has a 52-week low of $44.63 and a 52-week high of $73.25. The stock has a market capitalization of $3.33 billion, a PE ratio of 18.15 and a beta of 1.12.
Kirby Corp. (NYSE:KEX) last announced its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The firm earned $441.60 million during the quarter, compared to analysts’ expectations of $454.12 million. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. The business’s revenue was down 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.04 EPS. On average, equities research analysts anticipate that Kirby Corp. will post $2.61 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Kirby Corp. by 0.6% in the first quarter. State Street Corp now owns 1,517,214 shares of the company’s stock valued at $91,468,000 after buying an additional 8,771 shares during the last quarter. Kempen Capital Management N.V. bought a new position in Kirby Corp. during the first quarter valued at $145,000. Canada Pension Plan Investment Board increased its position in Kirby Corp. by 216.3% in the first quarter. Canada Pension Plan Investment Board now owns 169,200 shares of the company’s stock valued at $10,201,000 after buying an additional 115,700 shares during the last quarter. Fiduciary Management Inc. WI increased its position in Kirby Corp. by 35.5% in the first quarter. Fiduciary Management Inc. WI now owns 1,350,087 shares of the company’s stock valued at $81,397,000 after buying an additional 353,755 shares during the last quarter. Finally, Royce & Associates LP increased its position in Kirby Corp. by 755.0% in the first quarter. Royce & Associates LP now owns 1,052,500 shares of the company’s stock valued at $63,455,000 after buying an additional 929,400 shares during the last quarter. 99.43% of the stock is owned by institutional investors.
Kirby Corp. Company Profile
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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