Kirby Co. (NYSE:KEX) Receives $119.50 Consensus PT from Brokerages

Kirby Co. (NYSE:KEX) has been given a consensus rating of “Buy” by the five brokerages that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $123.20.

A number of research analysts have commented on KEX shares. StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Bank of America raised their price target on shares of Kirby from $131.00 to $138.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus raised their price target on shares of Kirby from $131.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Wolfe Research assumed coverage on shares of Kirby in a research note on Monday, April 22nd. They issued an “outperform” rating and a $126.00 target price for the company. Finally, BTIG Research lifted their target price on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd.

Kirby Stock Down 0.1 %

NYSE KEX opened at $118.59 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.81. The firm has a 50-day simple moving average of $113.27 and a 200 day simple moving average of $94.24. Kirby has a twelve month low of $72.11 and a twelve month high of $124.92. The stock has a market cap of $6.94 billion, a PE ratio of 28.04, a PEG ratio of 0.79 and a beta of 1.17.

Kirby (NYSE:KEX) last released its earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.22. Kirby had a net margin of 8.01% and a return on equity of 7.96%. The business had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $784.49 million. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that Kirby will post 5.3 EPS for the current year.

Insiders Place Their Bets

In other Kirby news, VP Kurt A. Niemietz sold 1,500 shares of Kirby stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $119.50, for a total transaction of $179,250.00. Following the completion of the sale, the vice president now owns 926 shares of the company’s stock, valued at approximately $110,657. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Kirby news, VP Amy D. Husted sold 7,853 shares of Kirby stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $122.50, for a total transaction of $961,992.50. Following the completion of the sale, the vice president now owns 5,280 shares of the company’s stock, valued at approximately $646,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kurt A. Niemietz sold 1,500 shares of Kirby stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $119.50, for a total transaction of $179,250.00. Following the transaction, the vice president now directly owns 926 shares in the company, valued at $110,657. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,162 shares of company stock valued at $4,752,143. Company insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kirby

A number of hedge funds and other institutional investors have recently made changes to their positions in KEX. 1832 Asset Management L.P. boosted its position in shares of Kirby by 56.1% during the first quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock worth $38,000 after purchasing an additional 143 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Kirby in the 1st quarter valued at $45,000. Turtle Creek Wealth Advisors LLC bought a new stake in Kirby in the 4th quarter valued at $53,000. Fifth Third Bancorp lifted its position in Kirby by 28.1% in the 1st quarter. Fifth Third Bancorp now owns 551 shares of the shipping company’s stock valued at $53,000 after acquiring an additional 121 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Kirby in the 4th quarter valued at $58,000. 96.15% of the stock is owned by 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.