Kirby (KEX) Sets New 1-Year High and Low at $84.05

Kirby Co. (NYSE:KEX)’s share price hit a new 52-week high and low on Thursday . The stock traded as low as $84.05 and last traded at $82.50, with a volume of 713213 shares changing hands. The stock had previously closed at $79.80.

KEX has been the subject of several recent analyst reports. ValuEngine raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday. Stifel Nicolaus set a $88.00 target price on shares of Kirby and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research raised shares of Kirby from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, February 6th. Stephens set a $89.00 target price on shares of Kirby and gave the company a “hold” rating in a research note on Monday, February 5th. Finally, Evercore ISI raised shares of Kirby from an “in-line” rating to an “outperform” rating and set a $86.00 target price for the company in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. Kirby presently has an average rating of “Hold” and an average price target of $81.50.

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The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.34 and a current ratio of 1.99. The stock has a market capitalization of $4,761.98, a PE ratio of 39.29, a price-to-earnings-growth ratio of 2.30 and a beta of 0.94.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, January 31st. The shipping company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. Kirby had a net margin of 14.14% and a return on equity of 4.17%. The company had revenue of $708.10 million during the quarter, compared to the consensus estimate of $612.61 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue was up 62.5% compared to the same quarter last year. equities analysts anticipate that Kirby Co. will post 2.78 earnings per share for the current fiscal year.

In related news, insider Dorman Lynn Strahan sold 1,665 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $74.56, for a total value of $124,142.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David R. Mosley sold 5,694 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $73.37, for a total transaction of $417,768.78. Following the completion of the transaction, the vice president now directly owns 17,692 shares of the company’s stock, valued at approximately $1,298,062.04. The disclosure for this sale can be found here. Insiders have sold 11,430 shares of company stock valued at $854,762 in the last three months. 2.40% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. grew its position in Kirby by 79.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock valued at $127,000 after purchasing an additional 857 shares in the last quarter. Advisory Services Network LLC grew its position in Kirby by 4,295.2% in the fourth quarter. Advisory Services Network LLC now owns 2,725 shares of the shipping company’s stock valued at $182,000 after purchasing an additional 2,663 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Kirby in the fourth quarter valued at $207,000. Trust Co bought a new position in Kirby in the third quarter valued at $208,000. Finally, Boothbay Fund Management LLC bought a new position in Kirby in the third quarter valued at $209,000. 93.95% of the stock is owned by institutional investors and hedge funds.

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About Kirby

Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

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