Kirby Co. (KEX) Receives Average Recommendation of “Hold” from Analysts

Kirby Co. (NYSE:KEX) has received an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $85.10.

A number of research analysts have weighed in on KEX shares. Wells Fargo & Co downgraded shares of Kirby from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 10th. Zacks Investment Research downgraded shares of Kirby from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. BTIG Research started coverage on shares of Kirby in a research report on Friday, January 25th. They issued a “neutral” rating and a $67.40 price objective for the company. Finally, TheStreet downgraded shares of Kirby from a “b-” rating to a “c” rating in a research report on Thursday, January 31st.

In related news, Director Richard Ross Stewart sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $71.54, for a total transaction of $178,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ronald A. Dragg sold 630 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $74.28, for a total transaction of $46,796.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,876 shares of company stock valued at $2,081,911. Insiders own 1.80% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in shares of Kirby by 4.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 89,385 shares of the shipping company’s stock worth $7,351,000 after purchasing an additional 3,758 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Kirby by 20.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,453 shares of the shipping company’s stock worth $366,000 after purchasing an additional 756 shares during the last quarter. Barclays PLC raised its position in shares of Kirby by 14.8% during the 4th quarter. Barclays PLC now owns 36,221 shares of the shipping company’s stock worth $2,440,000 after purchasing an additional 4,663 shares during the last quarter. Man Group plc raised its position in shares of Kirby by 10.5% during the 3rd quarter. Man Group plc now owns 69,885 shares of the shipping company’s stock worth $5,748,000 after purchasing an additional 6,615 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Kirby by 31.9% during the 4th quarter. Bank of America Corp DE now owns 1,391,208 shares of the shipping company’s stock worth $93,712,000 after purchasing an additional 336,555 shares during the last quarter. Hedge funds and other institutional investors own 95.88% of the company’s stock.

NYSE:KEX opened at $77.66 on Tuesday. Kirby has a one year low of $60.63 and a one year high of $94.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.80. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, January 31st. The shipping company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.68 by $0.07. Kirby had a net margin of 2.64% and a return on equity of 5.43%. The company had revenue of $721.49 million for the quarter, compared to analyst estimates of $698.14 million. Sell-side analysts anticipate that Kirby will post 3.57 earnings per share for the current year.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

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