Kirby Corp. (KEX) Shares Gap Up to $51.90
Shares of Kirby Corp. (NYSE:KEX) gapped up before the market opened on Monday . The stock had previously closed at $51.47, but opened at $51.90. Kirby Corp. shares last traded at $53.31, with a volume of 984,000 shares.
A number of research firms have recently commented on KEX. Vetr upgraded Kirby Corp. from a “sell” rating to a “hold” rating and set a $67.34 price objective for the company in a report on Tuesday, June 14th. Jefferies Group restated a “buy” rating on shares of Kirby Corp. in a report on Monday, August 1st. Wells Fargo & Co. downgraded Kirby Corp. from a “market perform” rating to an “underperform” rating and set a $46.00 price objective for the company. in a report on Monday, July 25th. Credit Suisse Group AG downgraded Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Tuesday, June 21st. Finally, Zacks Investment Research downgraded Kirby Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 7th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $60.33.
The company has a market cap of $2.87 billion and a price-to-earnings ratio of 15.64. The company has a 50-day moving average of $55.80 and a 200 day moving average of $61.29.
Kirby Corp. (NYSE:KEX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.02. The business had revenue of $441.60 million for the quarter, compared to the consensus estimate of $454.12 million. The company’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period last year, the firm earned $1.04 earnings per share. Equities analysts forecast that Kirby Corp. will post $2.61 EPS for the current fiscal year.
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.