Kirby (NYSE:KEX) Shares Up 8.5% – Should You Buy?

Kirby Co. (NYSE:KEX) shares were up 8.5% during mid-day trading on Thursday . The company traded as high as $115.17 and last traded at $115.58. Approximately 661,647 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 680,318 shares. The stock had previously closed at $106.56.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Price Performance

The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $112.70 and a two-hundred day simple moving average of $117.98. The company has a market cap of $6.41 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 0.55 and a beta of 1.21.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Kirby had a return on equity of 9.43% and a net margin of 9.37%. On average, equities analysts predict that Kirby Co. will post 5.45 EPS for the current fiscal year.

Insider Activity

In related news, VP Ronald A. Dragg sold 2,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the sale, the vice president now directly owns 7,683 shares in the company, valued at $978,045.90. The trade was a 23.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Ross Stewart sold 8,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the completion of the sale, the director now owns 15,488 shares in the company, valued at $1,985,716.48. This represents a 34.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 25,354 shares of company stock worth $3,275,455. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Kirby

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its holdings in Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 168 shares in the last quarter. Empowered Funds LLC acquired a new stake in Kirby during the fourth quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Kirby during the third quarter worth $30,000. Brooklyn Investment Group purchased a new stake in Kirby in the 3rd quarter valued at about $42,000. Finally, Capital Performance Advisors LLP acquired a new position in Kirby during the third quarter worth approximately $52,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Company Profile

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.