Stifel Nicolaus Analysts Give Kirby (KEX) a $88.00 Price Target

Stifel Nicolaus set a $88.00 target price on Kirby (NYSE:KEX) in a report issued on Thursday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the shipping company’s stock.

Several other equities research analysts have also recently commented on KEX. ValuEngine raised Kirby from a hold rating to a buy rating in a research note on Tuesday, April 3rd. Stephens reissued a hold rating and issued a $70.00 target price on shares of Kirby in a research note on Wednesday, January 10th. Zacks Investment Research cut Kirby from a buy rating to a hold rating in a research note on Tuesday, March 27th. OTR Global raised Kirby to a positive rating in a research note on Thursday, March 29th. Finally, Bank of America lifted their target price on Kirby from $66.00 to $69.00 and gave the company an underperform rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $81.50.

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NYSE KEX opened at $80.55 on Thursday. The firm has a market capitalization of $4,806.74, a PE ratio of 39.29, a PEG ratio of 2.32 and a beta of 0.94. Kirby has a 52 week low of $59.25 and a 52 week high of $84.10. The company has a quick ratio of 1.34, a current ratio of 1.99 and a debt-to-equity ratio of 0.32.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, January 31st. The shipping company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The company had revenue of $708.10 million during the quarter, compared to analysts’ expectations of $612.61 million. Kirby had a return on equity of 4.17% and a net margin of 14.14%. The business’s revenue for the quarter was up 62.5% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. equities research analysts expect that Kirby will post 2.81 EPS for the current year.

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

Institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Kirby by 79.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock worth $127,000 after purchasing an additional 857 shares during the period. Advisory Services Network LLC grew its stake in shares of Kirby by 4,295.2% during the fourth quarter. Advisory Services Network LLC now owns 2,725 shares of the shipping company’s stock worth $182,000 after purchasing an additional 2,663 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Kirby during the fourth quarter worth $207,000. Trust Co acquired a new stake in shares of Kirby during the third quarter worth $208,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Kirby during the third quarter worth $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.

Analyst Recommendations for Kirby (NYSE:KEX)

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