Kirby (NYSE:KEX) Reaches New 12-Month High – Should You Buy?

Kirby Corporation (NYSE:KEX) hit a new 52-week high on Thursday . The stock traded as high as $132.41 and last traded at $129.5610, with a volume of 14140 shares changing hands. The stock had previously closed at $130.12.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BTIG Research cut their price target on Kirby from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Wolfe Research reiterated an “outperform” rating and issued a $136.00 price target on shares of Kirby in a research report on Friday, January 30th. Zacks Research downgraded shares of Kirby from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 12th. Finally, Citigroup lifted their price target on shares of Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Kirby has an average rating of “Moderate Buy” and a consensus price target of $129.40.

Kirby Trading Down 0.2%

The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $6.96 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.17 and a beta of 0.88. The business has a fifty day moving average price of $121.55 and a 200 day moving average price of $105.42.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. The business had revenue of $851.78 million during the quarter, compared to the consensus estimate of $857.82 million. Kirby had a return on equity of 10.53% and a net margin of 10.54%.Kirby’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $1.29 earnings per share. On average, analysts expect that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Amy D. Husted sold 11,667 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $129.33, for a total value of $1,508,893.11. Following the completion of the transaction, the vice president owned 14,814 shares of the company’s stock, valued at approximately $1,915,894.62. This trade represents a 44.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William Matthew Woodruff sold 2,000 shares of Kirby stock in a transaction on Monday, February 9th. The shares were sold at an average price of $121.88, for a total transaction of $243,760.00. Following the completion of the sale, the vice president owned 687 shares in the company, valued at $83,731.56. The trade was a 74.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 69,853 shares of company stock valued at $8,750,205 over the last ninety days. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Kirby

Several hedge funds have recently modified their holdings of KEX. Peregrine Capital Management LLC boosted its stake in Kirby by 18.4% in the 3rd quarter. Peregrine Capital Management LLC now owns 131,000 shares of the shipping company’s stock valued at $10,932,000 after purchasing an additional 20,399 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Kirby during the 3rd quarter worth $2,030,000. Luminus Management LLC lifted its holdings in shares of Kirby by 292.0% during the third quarter. Luminus Management LLC now owns 116,956 shares of the shipping company’s stock worth $9,760,000 after buying an additional 87,120 shares in the last quarter. VELA Investment Management LLC boosted its position in shares of Kirby by 11.5% in the third quarter. VELA Investment Management LLC now owns 160,475 shares of the shipping company’s stock valued at $13,392,000 after acquiring an additional 16,615 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Kirby by 12.6% in the second quarter. Envestnet Asset Management Inc. now owns 87,443 shares of the shipping company’s stock valued at $9,683,000 after acquiring an additional 9,802 shares during the period. Institutional investors 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.