Kirby Corp. (NYSE:KEX) was upgraded by equities researchers at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $68.00 price objective on the stock, up from their previous price objective of $55.00. RBC Capital Markets’ target price points to a potential upside of 14.42% from the company’s current price.

KEX has been the topic of a number of other reports. Jefferies Group reissued a “buy” rating on shares of Kirby Corp. in a report on Monday, August 29th. Vetr downgraded Kirby Corp. from a “hold” rating to a “sell” rating and set a $67.34 price target for the company. in a research note on Thursday, May 26th. Zacks Investment Research downgraded Kirby Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. Credit Suisse Group AG downgraded Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price target for the company. in a research note on Tuesday, June 21st. Finally, Wells Fargo & Co. downgraded Kirby Corp. from a “market perform” rating to an “underperform” rating and set a $46.00 price target for the company. in a research note on Monday, July 25th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.69.

Shares of Kirby Corp. (NYSE:KEX) opened at 59.43 on Tuesday. 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. has a 52 week low of $44.63 and a 52 week high of $73.25. The stock has a 50 day moving average price of $54.79 and a 200-day moving average price of $61.36.

Kirby Corp. (NYSE:KEX) last posted its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $441.60 million for the quarter, compared to analyst estimates of $454.12 million. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. The firm’s revenue was down 18.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 EPS. On average, equities research analysts forecast that Kirby Corp. will post $2.61 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. boosted its position in Kirby Corp. by 1.4% in the second quarter. Macquarie Group Ltd. now owns 434,861 shares of the company’s stock worth $27,131,000 after buying an additional 5,996 shares during the period. Mason Street Advisors LLC acquired a new position in Kirby Corp. during the second quarter worth approximately $1,533,000. Wolverine Asset Management LLC acquired a new position in Kirby Corp. during the second quarter worth approximately $623,000. Royal Bank of Canada boosted its position in Kirby Corp. by 11.9% in the second quarter. Royal Bank of Canada now owns 39,943 shares of the company’s stock worth $2,490,000 after buying an additional 4,234 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Kirby Corp. by 8.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 192,365 shares of the company’s stock worth $12,002,000 after buying an additional 15,682 shares during the period. 99.43% of the stock is owned by 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.

5 Day Chart for NYSE:KEX

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