Kirby (KEX) Hits New 12-Month High and Low at $87.75

Kirby Co. (NYSE:KEX) shares reached a new 52-week high and low on Tuesday . The company traded as low as $87.75 and last traded at $86.75, with a volume of 144882 shares trading hands. The stock had previously closed at $86.80.

A number of research analysts have recently weighed in on KEX shares. Zacks Investment Research downgraded shares of Kirby from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Wells Fargo raised shares of Kirby from a “market perform” rating to an “outperform” rating and set a $83.00 target price for the company in a research report on Monday, January 22nd. 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 report on Thursday, February 1st. OTR Global raised shares of Kirby to a “positive” rating in a research report on Thursday, March 29th. Finally, Gabelli assumed coverage on shares of Kirby in a research note on Tuesday, January 16th. They set a “hold” rating and a $80.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. Kirby presently has an average rating of “Hold” and a consensus target price of $81.50.

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The company has a market cap of $5,155.83, a P/E ratio of 42.15, a P/E/G ratio of 2.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.34 and a current ratio of 1.99.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Wednesday, January 31st. The shipping company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.03. The company had revenue of $708.10 million for the quarter, compared to analysts’ expectations of $612.61 million. Kirby had a net margin of 14.14% and a return on equity of 4.17%. Kirby’s revenue was up 62.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS. analysts forecast that Kirby Co. will post 2.81 EPS for the current year.

In other Kirby news, VP David R. Mosley sold 5,694 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 in the company, valued at approximately $1,298,062.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dorman Lynn Strahan sold 1,665 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $74.56, for a total transaction of $124,142.40. The disclosure for this sale can be found here. Insiders have sold a total of 11,430 shares of company stock worth $854,762 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. lifted its stake in Kirby by 79.8% in the 3rd 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 in the last quarter. Advisory Services Network LLC lifted its stake in Kirby by 4,295.2% in the 4th 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 in the last quarter. State of Alaska Department of Revenue purchased a new stake in Kirby in the 4th quarter worth approximately $207,000. Trust Co purchased a new stake in Kirby in the 3rd quarter worth approximately $208,000. Finally, Teacher Retirement System of Texas purchased a new stake in Kirby in the 4th quarter worth approximately $304,000. Institutional investors and hedge funds own 93.95% of the company’s stock.

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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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