Short Interest in Kirby Corporation (NYSE:KEX) Decreases By 16.8%

Kirby Corporation (NYSE:KEX) was the target of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 1,578,528 shares, a drop of 16.8% from the January 15th total of 1,897,258 shares. Based on an average daily trading volume, of 1,050,227 shares, the days-to-cover ratio is presently 1.5 days. Approximately 2.9% of the shares of the company are sold short. Approximately 2.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,050,227 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wolfe Research restated an “outperform” rating and set a $136.00 target price on shares of Kirby in a report on Friday, January 30th. Citigroup upped their price objective on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Zacks Research cut Kirby from a “hold” rating to a “strong sell” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.40.

Kirby Price Performance

Shares of Kirby stock traded up $3.49 on Monday, reaching $124.87. 832,065 shares of the stock were exchanged, compared to its average volume of 777,952. The firm’s 50 day moving average is $119.02 and its 200-day moving average is $104.02. The firm has a market cap of $6.77 billion, a PE ratio of 19.73, a P/E/G ratio of 1.12 and a beta of 0.88. Kirby has a one year low of $79.51 and a one year high of $132.18. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.70.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. The firm had revenue of $851.78 million during the quarter, compared to analyst estimates of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.55%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 EPS. As a group, analysts anticipate that Kirby will post 6.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Amy D. Husted sold 10,413 shares of Kirby stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $107.42, for a total transaction of $1,118,564.46. Following the sale, the vice president directly owned 11,760 shares in the company, valued at approximately $1,263,259.20. The trade was a 46.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christian G. O’neil sold 11,145 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $111.68, for a total transaction of $1,244,673.60. Following the transaction, the chief operating officer owned 14,835 shares of the company’s stock, valued at approximately $1,656,772.80. This represents a 42.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 63,898 shares of company stock valued at $7,081,741 in the last ninety days. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Kirby

Several hedge funds have recently made changes to their positions in KEX. Peregrine Capital Management LLC raised its position in shares of Kirby by 18.4% during the third quarter. Peregrine Capital Management LLC now owns 131,000 shares of the shipping company’s stock worth $10,932,000 after purchasing an additional 20,399 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in Kirby during the third quarter worth $2,030,000. Luminus Management LLC raised its stake in Kirby by 292.0% during the third quarter. Luminus Management LLC now owns 116,956 shares of the shipping company’s stock worth $9,760,000 after acquiring an additional 87,120 shares in the last quarter. VELA Investment Management LLC boosted its holdings in shares of Kirby by 11.5% in the 3rd quarter. VELA Investment Management LLC now owns 160,475 shares of the shipping company’s stock worth $13,392,000 after acquiring an additional 16,615 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in Kirby by 312.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 26,006 shares of the shipping company’s stock worth $2,170,000 after purchasing an additional 19,705 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

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.