Kirby Co. (NYSE:KEX) Receives $123.80 Consensus PT from Analysts

Shares of Kirby Co. (NYSE:KEX) have received a consensus rating of “Buy” from the five ratings firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $123.80.

Separately, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday.

Kirby Stock Performance

Shares of Kirby stock opened at $117.86 on Monday. The firm has a fifty day moving average of $123.63 and a two-hundred day moving average of $120.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 0.70 and a beta of 1.18. Kirby has a 52 week low of $72.74 and a 52 week high of $132.21.

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

Insider Activity

In other news, VP Ronald A. Dragg sold 2,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $127.30, for a total transaction of $294,444.90. Following the completion of the transaction, the vice president now directly owns 7,683 shares of the company’s stock, valued at $978,045.90. This represents a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the sale, the vice president now directly owns 5,280 shares in the company, valued at approximately $668,131.20. This represents a 35.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,596 shares of company stock worth $8,541,440 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Kirby

Hedge funds have recently made changes to their positions in the business. Select Equity Group L.P. acquired a new position in Kirby during the second quarter valued at approximately $65,928,000. Encompass Capital Advisors LLC boosted its holdings in shares of Kirby by 33.9% in the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after buying an additional 224,802 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Kirby by 68.7% in the third quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock valued at $58,428,000 after buying an additional 194,410 shares in the last quarter. Artemis Investment Management LLP acquired a new position in Kirby during the third quarter worth $22,106,000. Finally, Charles Schwab Investment Management Inc. raised its position in Kirby by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock worth $85,585,000 after acquiring an additional 152,146 shares in the last quarter. 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.