Kirby Co. (NYSE:KEX) Receives $85.50 Consensus PT from Brokerages

Kirby Co. (NYSE:KEX – Get Rating) has been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $85.50.

A number of research firms have issued reports on KEX. StockNews.com began coverage on Kirby in a research note on Thursday. They issued a “hold” rating on the stock. Stephens raised their price target on Kirby from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, February 1st. BTIG Research raised their price target on Kirby from $80.00 to $90.00 and gave the company a “buy” rating in a report on Monday, March 6th. TheStreet raised Kirby from a “c+” rating to a “b-” rating in a report on Monday. Finally, Bank of America raised their price target on Kirby from $77.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, February 7th.

Insider Buying and Selling

In related news, VP Kurt A. Niemietz sold 750 shares of Kirby stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $74.23, for a total transaction of $55,672.50. Following the transaction, the vice president now directly owns 675 shares of the company’s stock, valued at $50,105.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Rocky Dewbre purchased 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were purchased at an average price of $73.00 per share, with a total value of $102,200.00. Following the purchase, the director now owns 2,079 shares of the company’s stock, valued at approximately $151,767. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kurt A. Niemietz sold 750 shares of Kirby stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $74.23, for a total value of $55,672.50. Following the completion of the transaction, the vice president now directly owns 675 shares in the company, valued at approximately $50,105.25. The disclosure for this sale can be found here. Insiders have sold a total of 20,316 shares of company stock valued at $1,483,079 over the last three months. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Kirby

A number of institutional investors have recently bought and sold shares of the stock. AMG National Trust Bank boosted its position in Kirby by 1.1% during the 4th quarter. AMG National Trust Bank now owns 12,957 shares of the shipping company’s stock worth $834,000 after acquiring an additional 142 shares during the period. State of Michigan Retirement System boosted its position in Kirby by 1.3% during the 4th quarter. State of Michigan Retirement System now owns 15,259 shares of the shipping company’s stock worth $982,000 after acquiring an additional 200 shares during the period. Meeder Asset Management Inc. boosted its position in Kirby by 35.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 877 shares of the shipping company’s stock worth $53,000 after acquiring an additional 230 shares during the period. Cullen Frost Bankers Inc. boosted its position in Kirby by 1.5% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 19,999 shares of the shipping company’s stock worth $1,215,000 after acquiring an additional 300 shares during the period. Finally, Simmons Bank boosted its position in Kirby by 1.4% during the 4th quarter. Simmons Bank now owns 22,158 shares of the shipping company’s stock worth $1,426,000 after acquiring an additional 308 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Kirby Stock Performance

Shares of KEX opened at $67.84 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.89 and a quick ratio of 1.17. The stock has a market capitalization of $4.07 billion, a PE ratio of 33.42, a price-to-earnings-growth ratio of 1.62 and a beta of 1.26. Kirby has a 12-month low of $55.03 and a 12-month high of $76.34. The business’s fifty day moving average price is $69.51 and its 200 day moving average price is $67.38.

Kirby (NYSE:KEX – Get Rating) last posted its earnings results on Tuesday, January 31st. The shipping company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. The company had revenue of $730.17 million for the quarter, compared to analysts’ expectations of $714.06 million. Kirby had a return on equity of 4.27% and a net margin of 4.39%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period last year, the business posted $0.27 earnings per share. Equities research analysts forecast that Kirby will post 3.54 EPS for the current year.

About Kirby

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Kirby Corp. is a tank barge operator, which engages in transporting bulk liquid products. It transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals. It operates through Marine Transportation and Distribution and Services segments. The Marine Transportation segment provides marine transportation by United States flagged vessels principally of liquid cargoes throughout the United States inland waterway system.