Kirby (NYSE:KEX) Upgraded to “Buy” by StockNews.com

Kirby (NYSE:KEX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Other equities analysts have also recently issued research reports about the stock. Stephens reiterated an “overweight” rating and issued a $105.00 price target on shares of Kirby in a research note on Monday, February 5th. BTIG Research increased their target price on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd.

Kirby Stock Performance

Kirby stock opened at $95.08 on Tuesday. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.64 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.68. The stock’s 50 day simple moving average is $90.58 and its two-hundred day simple moving average is $82.68. Kirby has a fifty-two week low of $66.42 and a fifty-two week high of $101.17.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, February 1st. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. Kirby had a net margin of 7.21% and a return on equity of 7.12%. The company had revenue of $799.18 million during the quarter, compared to analysts’ expectations of $778.70 million. During the same period last year, the company posted $0.67 EPS. Kirby’s revenue was up 9.5% on a year-over-year basis. As a group, analysts expect that Kirby will post 4.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Kirby

In other Kirby news, VP Scott P. Miller sold 1,828 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $79.60, for a total value of $145,508.80. Following the transaction, the vice president now owns 1,000 shares of the company’s stock, valued at $79,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Scott P. Miller sold 1,828 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $79.60, for a total value of $145,508.80. Following the transaction, the vice president now owns 1,000 shares of the company’s stock, valued at $79,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Ronald A. Dragg sold 1,413 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $84.68, for a total transaction of $119,652.84. Following the sale, the vice president now directly owns 10,651 shares of the company’s stock, valued at $901,926.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,418 shares of company stock worth $4,932,521. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KEX. Coppell Advisory Solutions Corp. purchased a new position in Kirby during the fourth quarter valued at approximately $45,000. Point72 Hong Kong Ltd bought a new position in Kirby in the 1st quarter worth $47,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Kirby in the 4th quarter worth $53,000. Quest Partners LLC bought a new stake in Kirby during the fourth quarter valued at about $58,000. Finally, NBC Securities Inc. purchased a new position in shares of Kirby in the third quarter valued at about $59,000. 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.