Kirby (NYSE:KEX) Stock Rating Lowered by StockNews.com

Kirby (NYSE:KEX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Kirby Price Performance

KEX stock opened at $103.89 on Thursday. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 0.69 and a beta of 1.21. The stock’s fifty day simple moving average is $117.29 and its 200-day simple moving average is $119.03. Kirby has a 52-week low of $74.88 and a 52-week high of $132.21. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The company had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. During the same quarter in the previous year, the business earned $1.05 EPS. The firm’s revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Kirby will post 5.45 EPS for the current year.

Insider Buying and Selling

In other news, Director Richard Ross Stewart sold 8,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total value of $1,025,680.00. Following the transaction, the director now owns 15,488 shares of the company’s stock, valued at approximately $1,985,716.48. This trade represents a 34.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ronald A. Dragg sold 2,313 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total transaction of $294,444.90. Following the sale, the vice president now directly owns 7,683 shares of the company’s stock, valued at approximately $978,045.90. This trade represents a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,354 shares of company stock valued at $3,275,455. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kirby

Institutional investors and hedge funds have recently modified their holdings of the stock. Choreo LLC acquired a new position in Kirby during the 2nd quarter worth approximately $305,000. AGF Management Ltd. acquired a new position in shares of Kirby during the second quarter worth $1,632,000. American Century Companies Inc. boosted its stake in shares of Kirby by 12.5% in the second quarter. American Century Companies Inc. now owns 25,067 shares of the shipping company’s stock valued at $3,001,000 after purchasing an additional 2,788 shares during the period. Nicholas Investment Partners LP purchased a new stake in Kirby during the 2nd quarter worth $5,270,000. Finally, Meeder Asset Management Inc. lifted its holdings in Kirby by 78.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 23,776 shares of the shipping company’s stock worth $2,847,000 after buying an additional 10,449 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Company Profile

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.