Insider Selling: Kirby Co. (NYSE:KEX) COO Sells $1,955,330.00 in Stock

Kirby Co. (NYSE:KEX) COO Christian G. O’neil sold 15,041 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the transaction, the chief operating officer now owns 7,746 shares in the company, valued at $1,006,980. This represents a 66.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kirby Stock Performance

KEX opened at $128.05 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $132.04. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 0.76 and a beta of 1.17. The company’s 50 day moving average is $122.17 and its 200 day moving average is $119.61.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The firm had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, equities research analysts predict that Kirby Co. will post 5.44 EPS for the current year.

Institutional Investors Weigh In On Kirby

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in shares of Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after purchasing an additional 168 shares during the period. International Assets Investment Management LLC purchased a new stake in Kirby in the 2nd quarter worth $26,000. ORG Wealth Partners LLC bought a new stake in Kirby during the third quarter valued at about $30,000. ORG Partners LLC purchased a new position in shares of Kirby in the second quarter valued at about $32,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Kirby in the second quarter worth about $33,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KEX. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. Bank of America boosted their target price on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kirby presently has an average rating of “Moderate Buy” and an average target price of $123.80.

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.