Kirby (KEX) Stock Rating Lowered by Zacks Investment Research

Kirby (NYSE:KEX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

According to Zacks, “Kirby Corporation operates a fleet of inland tank barges. It is the nation’s largest domestic tank barge operator transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts, and in Alaska and Hawaii. Kirby transports petrochemicals, black oil, refined petroleum products and agricultural chemicals by tank barge. Kirby also operates offshore dry-bulk barge and tugboat units engaged in the offshore transportation of dry-bulk cargoes in the United States coastal trade. Kirby also rents equipment including generators, fork lifts, pumps, and compressors for use in a variety of industrial markets, and manufactures and remanufactures oilfield service equipment, including pressure pumping units, for land-based oilfield service customers. “

Several other research firms have also commented on KEX. Stifel Nicolaus reiterated a “hold” rating and set a $67.00 price objective on shares of Kirby in a research report on Friday, November 3rd. Jefferies Group reiterated a “buy” rating and set a $85.00 price objective on shares of Kirby in a research report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $75.40.

Kirby (KEX) opened at $69.20 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.23 and a current ratio of 1.93. Kirby has a 12-month low of $59.25 and a 12-month high of $74.50. The firm has a market cap of $4,130.00, a price-to-earnings ratio of 32.95, a P/E/G ratio of 3.41 and a beta of 1.04.

Kirby (NYSE:KEX) last issued its earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.08. Kirby had a net margin of 5.88% and a return on equity of 4.48%. The firm had revenue of $541.30 million during the quarter, compared to analyst estimates of $517.54 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. Kirby’s revenue for the quarter was up 24.5% on a year-over-year basis. analysts expect that Kirby will post 2.02 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. lifted its position in Kirby by 79.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock valued at $127,000 after purchasing an additional 857 shares during the last quarter. Verition Fund Management LLC bought a new position in Kirby during the second quarter valued at $204,000. Boothbay Fund Management LLC bought a new position in Kirby during the third quarter valued at $209,000. Cornerstone Capital Management Holdings LLC. bought a new position in Kirby during the second quarter valued at $233,000. Finally, Virtu Financial LLC bought a new position in Kirby during the third quarter valued at $239,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

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Kirby Company Profile

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

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