Kirby Corp. (KEX) Trading Up 2.4%
Shares of Kirby Corp. (NYSE:KEX) were up 2.4% during trading on Tuesday . The company traded as high as $59.00 and last traded at $58.38, with a volume of 595,107 shares. The stock had previously closed at $57.00.
KEX has been the subject of several recent research reports. Vetr lowered shares of Kirby Corp. from a “hold” rating to a “sell” rating and set a $53.00 target price for the company. in a research report on Monday, August 8th. Wells Fargo & Co. reissued a “sell” rating on shares of Kirby Corp. in a report on Tuesday. Credit Suisse Group AG downgraded shares of Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 target price on the stock. in a report on Tuesday, June 21st. Zacks Investment Research downgraded shares of Kirby Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. Finally, RBC Capital Markets raised shares of Kirby Corp. from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $68.00 in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $63.69.
The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 17.43 and a beta of 1.11. The firm’s 50-day moving average price is $54.79 and its 200-day moving average price is $61.36.
Kirby Corp. (NYSE:KEX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. Kirby Corp. had a net margin of 9.63% and a return on equity of 8.02%. The firm had revenue of $441.60 million for the quarter, compared to analysts’ expectations of $454.12 million. During the same quarter last year, the company earned $1.04 EPS. The firm’s revenue for the quarter was down 18.7% compared to the same quarter last year. On average, equities analysts expect that Kirby Corp. will post $2.61 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in KEX. Vanguard Group Inc. boosted its stake in Kirby Corp. by 3.4% in the second quarter. Vanguard Group Inc. now owns 3,676,166 shares of the company’s stock worth $229,356,000 after buying an additional 119,761 shares in the last quarter. Atlanta Capital Management Co. L L C boosted its stake in Kirby Corp. by 1.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 3,335,828 shares of the company’s stock worth $208,122,000 after buying an additional 49,335 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Kirby Corp. by 2.1% in the second quarter. Baillie Gifford & Co. now owns 3,220,647 shares of the company’s stock worth $200,935,000 after buying an additional 66,587 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Kirby Corp. by 0.6% in the second quarter. BlackRock Fund Advisors now owns 2,238,323 shares of the company’s stock worth $139,649,000 after buying an additional 13,229 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Kirby Corp. by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,596,180 shares of the company’s stock worth $99,600,000 after buying an additional 79,516 shares during the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.
About Kirby Corp.
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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