Kirby Corp. (KEX) Trading Down 1.2%
Shares of Kirby Corp. (NYSE:KEX) traded down 1.2% during trading on Wednesday . The stock traded as low as $62.17 and last traded at $62.89, with a volume of 272,566 shares traded. The stock had previously closed at $63.63.
Several analysts have recently commented on the stock. Vetr downgraded shares of Kirby Corp. from a “hold” rating to a “sell” rating and set a $67.34 price objective for the company. in a research report on Thursday, May 26th. Zacks Investment Research upgraded Kirby Corp. from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Tuesday, April 12th. Finally, Evercore ISI cut Kirby Corp. from a “buy” rating to a “hold” rating and cut their target price for the stock from $59.00 to $54.00 in a report on Thursday, April 28th. Nine analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Kirby Corp. presently has an average rating of “Hold” and an average price target of $63.18.
The firm has a market capitalization of $3.37 billion and a PE ratio of 16.79. The stock’s 50 day moving average is $66.13 and its 200 day moving average is $60.41.
Kirby Corp. (NYSE:KEX) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by $0.07. The business earned $458.70 million during the quarter, compared to analyst estimates of $461.51 million. The firm’s quarterly revenue was down 21.9% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. On average, equities research analysts predict that Kirby Corp. will post $2.99 earnings per share for the current year.
In related news, VP Amy D. Husted sold 500 shares of the stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $69.25, for a total transaction of $34,625.00. Following the completion of the sale, the vice president now owns 19,482 shares in the company, valued at $1,349,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Monte J. Miller sold 3,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $69.31, for a total value of $207,930.00. Following the sale, the director now owns 13,938 shares of the company’s stock, valued at approximately $966,042.78. The disclosure for this sale can be found here.
Several hedge funds have added to or reduced their stakes in KEX. Diamond Hill Capital Management Inc. boosted its stake in Kirby Corp. by 282.1% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 848,694 shares of the company’s stock valued at $44,658,000 after buying an additional 626,609 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Kirby Corp. by 71.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,235,434 shares of the company’s stock valued at $65,009,000 after buying an additional 515,343 shares in the last quarter. Morgan Stanley boosted its stake in 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in Kirby Corp. by 25.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,299,981 shares of the company’s stock valued at $68,406,000 after buying an additional 259,980 shares in the last quarter. Finally, Eaton Vance Management boosted its stake in Kirby Corp. by 181.4% in the fourth quarter. Eaton Vance Management now owns 191,353 shares of the company’s stock valued at $10,069,000 after buying an additional 123,362 shares in 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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