Kirby (NYSE:KEX) Hits New 12-Month High at $94.55

Kirby Co. (NYSE:KEX)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $94.55 and last traded at $94.50, with a volume of 204391 shares traded. The stock had previously closed at $92.47.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KEX shares. Stephens reiterated an “overweight” rating and issued a $105.00 price target on shares of Kirby in a research note on Monday, February 5th. StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a research note on Monday.

Kirby Stock Performance

The company has a quick ratio of 1.01, a current ratio of 1.68 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $85.75 and a 200 day simple moving average of $81.40. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 1.61 and a beta of 1.20.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, February 1st. The shipping company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. Kirby had a return on equity of 7.12% and a net margin of 7.21%. The company had revenue of $799.18 million during the quarter, compared to the consensus estimate of $778.70 million. During the same period in the previous year, the firm posted $0.67 earnings per share. Kirby’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, analysts anticipate that Kirby Co. will post 4.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Kirby

In other news, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $79.60, for a total transaction of $145,508.80. Following the sale, the vice president now owns 1,000 shares of the company’s stock, valued at $79,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $79.60, for a total transaction of $145,508.80. Following the sale, the vice president now owns 1,000 shares of the company’s stock, valued at $79,600. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Raj Kumar sold 2,228 shares of Kirby stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $92.00, for a total value of $204,976.00. Following the sale, the chief financial officer now directly owns 1,719 shares in the company, valued at approximately $158,148. The disclosure for this sale can be found here. Insiders sold a total of 45,803 shares of company stock worth $3,921,057 over the last ninety days. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KEX. JPMorgan Chase & Co. increased its holdings in shares of Kirby by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 99,767 shares of the shipping company’s stock valued at $7,202,000 after buying an additional 1,756 shares in the last quarter. American Century Companies Inc. purchased a new position in Kirby during the 1st quarter worth approximately $201,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Kirby during the 1st quarter worth approximately $392,000. MetLife Investment Management LLC grew its position in Kirby by 33.4% during the 1st quarter. MetLife Investment Management LLC now owns 38,864 shares of the shipping company’s stock worth $2,806,000 after purchasing an additional 9,734 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Kirby by 1.9% during the 1st quarter. Rhumbline Advisers now owns 164,306 shares of the shipping company’s stock valued at $11,861,000 after acquiring an additional 3,103 shares in the last quarter. Institutional investors own 96.15% of the company’s stock.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.