Kirby (NYSE:KEX) Sets New 1-Year High – Time to Buy?

Kirby Corporation (NYSE:KEX) hit a new 52-week high during trading on Tuesday . The stock traded as high as $135.11 and last traded at $135.0750, with a volume of 120772 shares trading hands. The stock had previously closed at $130.76.

Wall Street Analyst Weigh In

KEX has been the topic of a number of analyst reports. Zacks Research raised shares of Kirby from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. Citigroup raised their target price on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, January 30th. BTIG Research lowered their price target on shares of Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, January 29th. Evercore reissued an “outperform” rating and set a $138.00 price objective on shares of Kirby in a research note on Monday, March 9th. Finally, Weiss Ratings cut shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.60.

Kirby Price Performance

The company has a fifty day moving average of $126.50 and a 200-day moving average of $109.52. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The stock has a market cap of $7.25 billion, a PE ratio of 21.36, a P/E/G ratio of 1.17 and a beta of 0.83.

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

Insider Transactions at Kirby

In related news, VP Amy D. Husted sold 11,667 shares of Kirby stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $129.33, for a total value of $1,508,893.11. Following the completion of the transaction, the vice president owned 14,814 shares in the company, valued at approximately $1,915,894.62. The trade was a 44.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ronald A. Dragg sold 5,429 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $122.00, for a total transaction of $662,338.00. Following the sale, the vice president owned 10,399 shares in the company, valued at approximately $1,268,678. This trade represents a 34.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 71,495 shares of company stock valued at $9,226,173. 0.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in Kirby by 30.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock valued at $49,632,000 after purchasing an additional 114,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Kirby by 152.7% during 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 worth $18,441,000 after buying an additional 110,320 shares during the period. Creative Planning raised its holdings in Kirby by 9.3% in the second quarter. Creative Planning now owns 7,374 shares of the shipping company’s stock valued at $836,000 after acquiring an additional 630 shares in the last quarter. Cetera Investment Advisers lifted its stake in Kirby by 37.7% in the second quarter. Cetera Investment Advisers now owns 9,977 shares of the shipping company’s stock worth $1,131,000 after acquiring an additional 2,731 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Kirby by 42.3% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 20,651 shares of the shipping company’s stock worth $2,342,000 after acquiring an additional 6,140 shares in the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

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.