Kirby (NYSE:KEX) Price Target Raised to $141.00

Kirby (NYSE:KEX) had its price target increased by equities research analysts at Bank of America from $138.00 to $141.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. Bank of America‘s target price suggests a potential upside of 12.77% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. BTIG Research upped their price objective on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Stifel Nicolaus upped their price objective on Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, Wolfe Research initiated coverage on Kirby in a report on Monday, April 22nd. They issued an “outperform” rating and a $126.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $123.80.

Kirby Stock Down 0.1 %

Shares of Kirby stock traded down $0.08 on Tuesday, reaching $125.03. 66,584 shares of the company were exchanged, compared to its average volume of 447,461. Kirby has a one year low of $72.11 and a one year high of $130.90. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 0.75 and a beta of 1.18. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. The company has a 50-day moving average of $120.29 and a 200 day moving average of $101.41.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.22. Kirby had a return on equity of 7.96% and a net margin of 8.01%. The business had revenue of $808.00 million for the quarter, compared to analysts’ expectations of $784.49 million. During the same quarter in the prior year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that Kirby will post 5.3 earnings per share for the current year.

Insider Transactions at Kirby

In other news, CEO David W. Grzebinski sold 3,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $120.31, for a total transaction of $360,930.00. Following the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at approximately $7,627,533.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Kirby news, CEO David W. Grzebinski sold 3,000 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $120.31, for a total value of $360,930.00. Following the completion of the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at $7,627,533.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy D. Husted sold 7,853 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $122.50, for a total value of $961,992.50. Following the completion of the transaction, the vice president now owns 5,280 shares of the company’s stock, valued at $646,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,319 shares of company stock valued at $3,896,633. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kirby

Hedge funds have recently made changes to their positions in the stock. ORG Partners LLC bought a new stake in Kirby in the second quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new stake in Kirby in the second quarter worth approximately $33,000. Blue Trust Inc. grew its stake in Kirby by 91.0% in the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 141 shares during the period. GAMMA Investing LLC grew its stake in Kirby by 253.8% in the second quarter. GAMMA Investing LLC now owns 375 shares of the shipping company’s stock valued at $45,000 after acquiring an additional 269 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in Kirby by 56.1% in the first quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock valued at $38,000 after acquiring an additional 143 shares during the period. 96.15% of the stock is currently owned by 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.