Kirby Corp. (KEX) Trading Down 9%
Kirby Corp. (NYSE:KEX) shares were down 9% during trading on Thursday . The company traded as low as $52.90 and last traded at $53.60, with a volume of 2,053,704 shares. The stock had previously closed at $58.87.
A number of research analysts recently commented on KEX shares. Zacks Investment Research raised Kirby Corp. from a “sell” rating to a “hold” rating in a report on Monday, April 4th. Evercore ISI cut Kirby Corp. from a “buy” rating to a “hold” rating and lowered their price target for the stock from $59.00 to $54.00 in a report on Thursday, April 28th. Cowen and Company cut Kirby Corp. from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $60.00 to $65.00 in a report on Friday, April 29th. BB&T Corp. raised Kirby Corp. from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a report on Monday, May 2nd. Finally, Vetr raised Kirby Corp. from a “hold” rating to a “buy” rating and set a $67.34 price target on the stock in a report on Wednesday, May 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $61.75.
The company has a market cap of $2.92 billion and a PE ratio of 14.52. The firm’s 50-day moving average is $64.18 and its 200-day moving average is $60.78.
Kirby Corp. (NYSE:KEX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. During the same period in the previous year, the business posted $1.04 earnings per share. The business earned $441.60 million during the quarter, compared to analyst estimates of $454.12 million. The firm’s revenue for the quarter was down 18.7% on a year-over-year basis. On average, analysts forecast that Kirby Corp. will post $2.97 earnings per share for the current year.
In other news, Director Monte J. Miller sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $69.31, for a total value of $207,930.00. Following the transaction, the director now owns 13,938 shares in the company, valued at $966,042.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Amy D. Husted sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $69.25, for a total value of $34,625.00. Following the completion of the transaction, the vice president now owns 19,482 shares in the company, valued at approximately $1,349,128.50. The disclosure for this sale can be found here.
Several institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LLC purchased a new position in Kirby Corp. during the fourth quarter valued at $6,478,000. GSA Capital Partners LLP purchased a new position in Kirby Corp. during the fourth quarter valued at $1,236,000. Sei Investments Co. increased its position in Kirby Corp. by 1,097.5% in the fourth quarter. Sei Investments Co. now owns 26,596 shares of the company’s stock valued at $1,400,000 after buying an additional 24,375 shares during the period. Wells Fargo & Company MN increased its position in Kirby Corp. by 71.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,235,434 shares of the company’s stock valued at $65,009,000 after buying an additional 515,343 shares during the period. Finally, Rhumbline Advisers increased its position in Kirby Corp. by 0.5% in the fourth quarter. Rhumbline Advisers now owns 79,399 shares of the company’s stock valued at $4,178,000 after buying an additional 395 shares during the period.
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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