Key Points
- Kirby VP Ronald Dragg sold 2,715 shares on November 12 at an average price of $110.29 for about $299,437, reducing his position by 20.82% to 10,325 shares valued at roughly $1.14 million.
- Kirby beat Q3 estimates with $1.65 EPS and $871.16 million in revenue, and analysts have recently upgraded the stock (Citigroup to Buy) with a consensus rating of Moderate Buy and an average target around $123.40.
Kirby Corporation (NYSE:KEX - Get Free Report) VP Ronald Dragg sold 2,715 shares of the company's stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $110.29, for a total value of $299,437.35. Following the completion of the transaction, the vice president owned 10,325 shares of the company's stock, valued at $1,138,744.25. This trade represents a 20.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Kirby Stock Performance
Shares of KEX stock traded down $0.32 during trading hours on Friday, hitting $107.20. 75,551 shares of the company were exchanged, compared to its average volume of 733,055. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.05 and a beta of 1.05. The firm has a fifty day simple moving average of $90.00 and a 200 day simple moving average of $101.54. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $132.21.
Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.60 by $0.05. The business had revenue of $871.16 million for the quarter, compared to the consensus estimate of $843.29 million. Kirby had a net margin of 9.22% and a return on equity of 10.06%. The company's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.55 earnings per share. Research analysts predict that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Kirby by 244.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company's stock worth $26,000 after buying an additional 164 shares during the last quarter. Maseco LLP bought a new stake in shares of Kirby during the second quarter valued at approximately $28,000. IFP Advisors Inc bought a new stake in shares of Kirby during the second quarter valued at approximately $29,000. First Horizon Corp purchased a new position in Kirby in the 3rd quarter worth approximately $30,000. Finally, Bell Investment Advisors Inc lifted its position in Kirby by 67.1% in the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company's stock valued at $32,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company's stock.
Analyst Ratings Changes
Several research firms have issued reports on KEX. Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd. Wall Street Zen upgraded Kirby from a "hold" rating to a "buy" rating in a report on Saturday, November 1st. Citigroup upgraded Kirby from a "neutral" rating to a "buy" rating and raised their price target for the stock from $110.00 to $128.00 in a research report on Wednesday, November 5th. BTIG Research reiterated a "buy" rating and issued a $125.00 price objective on shares of Kirby in a research report on Thursday, September 18th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Kirby in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $123.40.
Get Our Latest Analysis on Kirby
About Kirby
(
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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.
Further Reading
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