Kirby (NYSE:KEX) Price Target Raised to $140.00 at BTIG Research

Kirby (NYSE:KEX) had its price objective increased by equities research analysts at BTIG Research from $125.00 to $140.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. BTIG Research’s target price suggests a potential upside of 12.61% from the stock’s previous close.

Several other research firms have also recently issued reports on KEX. Evercore ISI raised their target price on Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a research report on Wednesday, October 8th. Wolfe Research reissued an “outperform” rating and set a $134.00 target price on shares of Kirby in a research note on Thursday, January 8th. Citigroup raised their price target on Kirby from $128.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Kirby has a consensus rating of “Moderate Buy” and an average price target of $128.17.

Kirby Trading Up 0.4%

NYSE:KEX opened at $124.32 on Thursday. The firm has a market capitalization of $6.74 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.07 and a beta of 0.88. The company has a quick ratio of 1.08, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $112.51 and a 200 day moving average of $102.74. Kirby has a 52 week low of $79.51 and a 52 week high of $126.97.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The business had revenue of $871.16 million for the quarter, compared to analyst estimates of $843.29 million. Kirby had a net margin of 9.22% and a return on equity of 10.05%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. On average, research analysts predict that Kirby will post 6.57 earnings per share for the current year.

Insider Activity at Kirby

In other Kirby news, VP Kurt A. Niemietz sold 1,500 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $114.12, for a total value of $171,180.00. Following the completion of the transaction, the vice president owned 958 shares in the company, valued at approximately $109,326.96. This represents a 61.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Christian G. O’neil sold 11,145 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $111.68, for a total value of $1,244,673.60. Following the transaction, the chief operating officer directly owned 14,835 shares of the company’s stock, valued at $1,656,772.80. This represents a 42.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,147 shares of company stock valued at $6,204,544 over the last ninety days. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Kirby

Several hedge funds have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Kirby by 244.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 164 shares in the last quarter. Maseco LLP purchased a new stake in shares of Kirby in the 2nd quarter worth approximately $28,000. IFP Advisors Inc bought a new position in Kirby during the 2nd quarter valued at approximately $29,000. First Horizon Corp bought a new position in Kirby during the 3rd quarter valued at approximately $30,000. Finally, Bell Investment Advisors Inc raised its stake in Kirby by 67.1% during the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after buying an additional 114 shares during the last quarter. Institutional investors own 96.15% of the company’s stock.

About Kirby

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.