Kirby (NYSE:KEX) Sets New 1-Year High After Analyst Upgrade

Kirby Corporation (NYSE:KEX)’s stock price hit a new 52-week high on Wednesday after BTIG Research raised their price target on the stock from $135.00 to $160.00. BTIG Research currently has a buy rating on the stock. Kirby traded as high as $143.79 and last traded at $143.53, with a volume of 74659 shares. The stock had previously closed at $142.63.

A number of other equities analysts have also recently issued reports on the company. Zacks Research upgraded Kirby from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Citigroup upped their target price on Kirby from $147.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 27th. Evercore restated an “outperform” rating and set a $138.00 price objective on shares of Kirby in a report on Monday, March 9th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $136.00 price objective on shares of Kirby in a research note on Friday, January 30th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.20.

Insider Activity

In other Kirby news, CEO David W. Grzebinski sold 34,152 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the sale, the chief executive officer directly owned 98,241 shares of the company’s stock, valued at $12,776,242.05. The trade was a 25.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott P. Miller sold 3,960 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $120.68, for a total value of $477,892.80. Following the completion of the sale, the vice president owned 3,565 shares of the company’s stock, valued at $430,224.20. The trade was a 52.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 71,495 shares of company stock worth $9,226,173. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kirby

A number of large investors have recently made changes to their positions in KEX. Maseco LLP purchased a new position in Kirby during the fourth quarter valued at approximately $27,000. First Horizon Corp purchased a new stake in Kirby in the 3rd quarter worth approximately $30,000. Rothschild Investment LLC boosted its stake in shares of Kirby by 2,600.0% during the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock valued at $30,000 after buying an additional 260 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of Kirby by 537.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock valued at $34,000 after buying an additional 258 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Kirby by 50.0% during the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company’s stock valued at $44,000 after acquiring an additional 134 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Stock Performance

The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $7.67 billion, a PE ratio of 22.61, a PEG ratio of 1.36 and a beta of 0.83. The firm’s fifty day moving average price is $130.37 and its 200 day moving average price is $115.36.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The business had revenue of $851.78 million during the quarter, compared to analyst estimates of $857.82 million. During the same period last year, the company earned $1.29 earnings per share. Kirby’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, research analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current year.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.