Bank of America Issues Pessimistic Forecast for Kirby (NYSE:KEX) Stock Price

Kirby (NYSE:KEX) had its target price dropped by stock analysts at Bank of America from $133.00 to $123.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. Bank of America‘s price target indicates a potential upside of 22.06% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus lowered their target price on Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a report on Friday, January 31st. StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Kirby has an average rating of “Moderate Buy” and a consensus target price of $124.75.

Kirby Stock Down 2.1 %

Shares of KEX stock opened at $100.77 on Friday. The stock has a market cap of $5.73 billion, a P/E ratio of 20.52, a P/E/G ratio of 0.88 and a beta of 1.18. Kirby has a 12 month low of $93.63 and a 12 month high of $132.21. The company has a 50 day simple moving average of $104.15 and a two-hundred day simple moving average of $113.63. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.71%. On average, research analysts expect that Kirby will post 6.57 earnings per share for the current year.

Insider Transactions at Kirby

In related news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the transaction, the vice president now owns 5,545 shares of the company’s stock, valued at $596,697.45. This represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Empowered Funds LLC acquired a new position in Kirby in the fourth quarter valued at approximately $25,000. Colonial Trust Co SC lifted its position in shares of Kirby by 295.3% during the 4th quarter. Colonial Trust Co SC now owns 253 shares of the shipping company’s stock worth $27,000 after buying an additional 189 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Kirby in the 3rd quarter valued at $42,000. LGT Financial Advisors LLC acquired a new stake in Kirby during the 4th quarter worth $63,000. Finally, R Squared Ltd acquired a new stake in Kirby during the 4th quarter worth $76,000. 96.15% of the stock is owned by institutional investors and hedge funds.

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.