Kirby Corp. (KEX) Rating Increased to Outperform at Royal Bank Of Canada
Kirby Corp. (NYSE:KEX) was upgraded by equities research analysts at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research note issued on Tuesday. The brokerage currently has a $68.00 price target on the stock, up from their previous price target of $55.00. Royal Bank Of Canada’s price objective would suggest a potential upside of 14.42% from the stock’s current price.
Several other brokerages also recently issued reports on KEX. Vetr downgraded Kirby Corp. from a “hold” rating to a “sell” rating and set a $53.00 price objective for the company. in a research report on Monday, August 8th. Credit Suisse Group AG downgraded Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Tuesday, June 21st. Zacks Investment Research downgraded Kirby Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th. Finally, Jefferies Group restated a “buy” rating on shares of Kirby Corp. in a research report on Tuesday, August 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $63.69.
Shares of Kirby Corp. (NYSE:KEX) opened at 59.43 on Tuesday. Kirby Corp. has a 12 month low of $44.63 and a 12 month high of $73.25. The firm’s 50-day moving average price is $54.79 and its 200-day moving average price is $61.36. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 17.43 and a beta of 1.11.
Kirby Corp. (NYSE:KEX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.02. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. The firm earned $441.60 million during the quarter, compared to the consensus estimate of $454.12 million. During the same quarter in the previous year, the company posted $1.04 EPS. The business’s revenue for the quarter was down 18.7% compared to the same quarter last year. On average, equities analysts anticipate that Kirby Corp. will post $2.61 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of KEX. Nomura Asset Management Co. Ltd. boosted its position in Kirby Corp. by 19.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 24,851 shares of the company’s stock worth $1,308,000 after buying an additional 4,019 shares during the last quarter. Glenmede Trust Co. NA boosted its position in Kirby Corp. by 30.0% in the first quarter. Glenmede Trust Co. NA now owns 12,805 shares of the company’s stock worth $771,000 after buying an additional 2,955 shares during the last quarter. Aperio Group LLC boosted its position in Kirby Corp. by 28.0% in the first quarter. Aperio Group LLC now owns 11,761 shares of the company’s stock worth $709,000 after buying an additional 2,575 shares during the last quarter. Pacad Investment Ltd. boosted its position in Kirby Corp. by 20.2% in the first quarter. Pacad Investment Ltd. now owns 17,555 shares of the company’s stock worth $1,058,000 after buying an additional 2,955 shares during the last quarter. Finally, Ngam Advisors L.P. boosted its position in Kirby Corp. by 21.4% in the first quarter. Ngam Advisors L.P. now owns 132,296 shares of the company’s stock worth $7,975,000 after buying an additional 23,360 shares during the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.
Kirby Corp. Company Profile
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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