Short Interest in Kirby Co. (NYSE:KEX) Rises By 22.6%

Kirby Co. (NYSE:KEXGet Rating) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 1,680,000 shares, a growth of 22.6% from the April 30th total of 1,370,000 shares. Based on an average trading volume of 564,400 shares, the days-to-cover ratio is presently 3.0 days. Currently, 2.8% of the company’s stock are sold short.

In other Kirby news, VP Scott P. Miller sold 607 shares of Kirby stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $67.08, for a total transaction of $40,717.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ronald A. Dragg sold 500 shares of the business’s stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $71.08, for a total transaction of $35,540.00. The disclosure for this sale can be found here. Insiders have sold a total of 7,857 shares of company stock worth $562,955 over the last ninety days. Insiders own 1.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of KEX. Morgan Stanley raised its stake in shares of Kirby by 108.4% in the second quarter. Morgan Stanley now owns 68,869 shares of the shipping company’s stock valued at $4,176,000 after acquiring an additional 35,815 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Kirby by 6.4% in the 3rd quarter. Alliancebernstein L.P. now owns 98,518 shares of the shipping company’s stock worth $4,725,000 after buying an additional 5,936 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Kirby by 29.2% in the 3rd quarter. Goldman Sachs Group Inc. now owns 547,711 shares of the shipping company’s stock valued at $26,268,000 after purchasing an additional 123,760 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in shares of Kirby during the 3rd quarter valued at about $500,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in Kirby by 6.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 13,426 shares of the shipping company’s stock worth $643,000 after purchasing an additional 824 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

KEX has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Kirby from $71.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 5th. StockNews.com started coverage on shares of Kirby in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $69.25.

Shares of KEX stock traded up $0.78 on Wednesday, hitting $68.31. 282,243 shares of the company’s stock traded hands, compared to its average volume of 560,210. The company’s fifty day simple moving average is $66.70 and its 200 day simple moving average is $64.04. The stock has a market capitalization of $4.12 billion, a price-to-earnings ratio of -18.10, a P/E/G ratio of 2.66 and a beta of 1.37. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.27 and a current ratio of 1.98. Kirby has a one year low of $47.58 and a one year high of $75.08.

Kirby (NYSE:KEXGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The shipping company reported $0.29 earnings per share for the quarter, hitting the consensus estimate of $0.29. The company had revenue of $610.78 million for the quarter, compared to the consensus estimate of $586.68 million. Kirby had a positive return on equity of 1.85% and a negative net margin of 9.58%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) EPS. As a group, sell-side analysts anticipate that Kirby will post 2.14 earnings per share for the current fiscal year.

Kirby Company Profile (Get Rating)

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.

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