Kirby Corp. (NYSE:KEX) shares dropped 9% during mid-day 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 trading hands. The stock had previously closed at $58.87.

KEX has been the topic of a number of recent research reports. Vetr raised Kirby Corp. from a “hold” rating to a “buy” rating and set a $67.34 price objective on the stock in a research note on Wednesday, May 4th. BB&T Corp. raised Kirby Corp. from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Monday, May 2nd. Zacks Investment Research raised Kirby Corp. from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Tuesday, April 12th. Finally, Evercore ISI cut Kirby Corp. from a “buy” rating to a “hold” rating and reduced their price objective for the company from $59.00 to $54.00 in a research note on Thursday, April 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Kirby Corp. currently has an average rating of “Hold” and a consensus price target of $60.33.

The stock has a market capitalization of $2.93 billion and a P/E ratio of 15.98. The firm has a 50 day moving average price of $63.67 and a 200-day moving average price of $60.84.

Kirby Corp. (NYSE:KEX) last released its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $441.60 million for the quarter, compared to analysts’ expectations of $454.12 million. The firm’s quarterly revenue was down 18.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.04 EPS. Equities research analysts predict that Kirby Corp. will post $2.79 EPS for the current year.

In related news, Director Monte J. Miller sold 3,000 shares of Kirby Corp. stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $69.31, for a total transaction of $207,930.00. Following the transaction, the director now owns 13,938 shares in the company, valued at approximately $966,042.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dorman Lynn Strahan sold 2,883 shares of Kirby Corp. stock in a transaction on Friday, May 6th. The shares were sold at an average price of $64.20, for a total transaction of $185,088.60. Following the transaction, the insider now owns 33,444 shares in the company, valued at approximately $2,147,104.80. The disclosure for this sale can be found here.

A number of hedge funds recently made changes to their positions in the company. Sei Investments Co. boosted its stake in shares of 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 last quarter. Rhumbline Advisers boosted its stake in shares of 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 last quarter. New York State Common Retirement Fund boosted its stake in shares of Kirby Corp. by 1.4% in the fourth quarter. New York State Common Retirement Fund now owns 129,700 shares of the company’s stock valued at $6,825,000 after buying an additional 1,800 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Kirby Corp. during the fourth quarter valued at approximately $1,236,000. Finally, Morgan Stanley boosted its stake in shares of Kirby Corp. by 879.0% in the fourth quarter. Morgan Stanley now owns 396,518 shares of the company’s stock valued at $20,865,000 after buying an additional 356,016 shares during the last quarter.

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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