Kirby (NYSE:KEX) Sets New 12-Month High – Here’s What Happened

Shares of Kirby Corporation (NYSE:KEX) reached a new 52-week high during trading on Monday . The stock traded as high as $152.59 and last traded at $152.6090, with a volume of 209540 shares changing hands. The stock had previously closed at $150.60.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wolfe Research reissued an “outperform” rating and issued a $136.00 target price on shares of Kirby in a report on Friday, January 30th. BTIG Research raised their target price on shares of Kirby from $135.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Citigroup raised their price target on shares of Kirby from $147.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Weiss Ratings downgraded shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Finally, Evercore restated an “outperform” rating and issued a $138.00 price target on shares of Kirby in a research note on Monday, March 9th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Kirby has a consensus rating of “Moderate Buy” and an average price target of $140.20.

Kirby Trading Up 1.3%

The business’s 50 day moving average price is $134.21 and its two-hundred day moving average price is $118.88. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 1.44 and a beta of 0.83.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The company had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. During the same period last year, the company posted $1.29 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities analysts predict that Kirby Corporation will post 6.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Kirby

In other news, COO Christian G. O’neil sold 11,287 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $132.34, for a total value of $1,493,721.58. Following the transaction, the chief operating officer owned 11,287 shares in the company, valued at approximately $1,493,721.58. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David W. Grzebinski sold 34,152 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the completion of the transaction, the chief executive officer owned 98,241 shares in the company, valued at $12,776,242.05. This trade represents a 25.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 71,495 shares of company stock worth $9,226,173 over the last quarter. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of KEX. Fifth Third Wealth Advisors LLC boosted its holdings in Kirby by 4.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,917 shares of the shipping company’s stock worth $255,000 after acquiring an additional 77 shares during the last quarter. State of Wyoming boosted its holdings in Kirby by 12.8% during the 3rd quarter. State of Wyoming now owns 1,003 shares of the shipping company’s stock worth $84,000 after acquiring an additional 114 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Kirby by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the shipping company’s stock worth $81,000 after acquiring an additional 114 shares during the last quarter. Xponance Inc. boosted its holdings in Kirby by 1.8% during the 3rd quarter. Xponance Inc. now owns 6,809 shares of the shipping company’s stock worth $568,000 after acquiring an additional 118 shares during the last quarter. Finally, Procyon Advisors LLC boosted its holdings in Kirby by 4.6% during the 4th quarter. Procyon Advisors LLC now owns 2,733 shares of the shipping company’s stock worth $301,000 after acquiring an additional 121 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Company Profile

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.