Kirby Co. (NYSE:KEX) VP Ronald A. Dragg Sells 1,570 Shares

Kirby Co. (NYSE:KEX) VP Ronald A. Dragg sold 1,570 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $112.28, for a total transaction of $176,279.60. Following the sale, the vice president now owns 9,081 shares of the company’s stock, valued at $1,019,614.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Kirby Stock Performance

KEX stock traded up $0.08 during midday trading on Friday, reaching $116.06. 19,495 shares of the company’s stock traded hands, compared to its average volume of 420,774. The company has a current ratio of 1.68, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. Kirby Co. has a 52-week low of $69.22 and a 52-week high of $116.72. The stock has a market cap of $6.79 billion, a P/E ratio of 27.42, a PEG ratio of 1.77 and a beta of 1.14. The stock’s 50-day moving average is $97.71 and its 200 day moving average is $85.61.

Kirby (NYSE:KEX) last announced its earnings results on Friday, April 26th. The shipping company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.22. Kirby had a return on equity of 8.00% and a net margin of 8.01%. The company had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $784.49 million. During the same period last year, the firm earned $0.68 EPS. Kirby’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that Kirby Co. will post 5.2 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on KEX. Wolfe Research began coverage on Kirby in a report on Monday, April 22nd. They issued an “outperform” rating and a $126.00 target price for the company. BTIG Research boosted their price objective on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Stifel Nicolaus raised their target price on shares of Kirby from $100.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, April 19th. StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Finally, Stephens restated an “overweight” rating and issued a $105.00 price target on shares of Kirby in a research note on Monday, February 5th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Kirby has an average rating of “Buy” and a consensus target price of $116.00.

Institutional Trading of Kirby

A number of hedge funds and other institutional investors have recently modified their holdings of KEX. Raymond James & Associates boosted its stake in Kirby by 80.5% during the third quarter. Raymond James & Associates now owns 5,809 shares of the shipping company’s stock valued at $481,000 after buying an additional 2,590 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Kirby in the 3rd quarter worth about $869,000. Panagora Asset Management Inc. purchased a new position in shares of Kirby during the 3rd quarter worth about $226,000. Teacher Retirement System of Texas grew its holdings in Kirby by 10.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 14,028 shares of the shipping company’s stock valued at $1,162,000 after purchasing an additional 1,327 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. raised its position in Kirby by 3.8% in the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 186,629 shares of the shipping company’s stock worth $15,453,000 after purchasing an additional 6,888 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.