Key Points
- Kirby VP Amy Husted sold 10,413 shares on Nov. 21 at an average of $107.42 for a total of $1,118,564.46, cutting her position by about 46.96% to 11,760 shares, according to an SEC filing.
- Kirby reported Q3 EPS of $1.65 and revenue of $871.2 million, both beating estimates, with quarterly revenue up 4.8% year-over-year and analysts projecting ~6.57 EPS for the current year.
- KEX trades around $108 with a market cap of $5.85 billion, is 96.15% institutionally owned, and carries a consensus analyst rating of "Moderate Buy" with a $123.40 target.
Kirby Corporation (NYSE:KEX - Get Free Report) VP Amy Husted sold 10,413 shares of the company's stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $107.42, for a total value of $1,118,564.46. Following the completion of the sale, the vice president owned 11,760 shares of the company's stock, valued at approximately $1,263,259.20. The trade was a 46.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Kirby Stock Up 0.3%
KEX stock opened at $107.95 on Tuesday. The business's 50-day moving average price is $92.81 and its 200-day moving average price is $101.89. The stock has a market cap of $5.85 billion, a P/E ratio of 20.03, a PEG ratio of 1.05 and a beta of 1.05. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $131.30.
Kirby (NYSE:KEX - Get Free Report) last released its earnings results on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.05. Kirby had a net margin of 9.22% and a return on equity of 10.06%. The company had revenue of $871.16 million during the quarter, compared to analyst estimates of $843.29 million. During the same period in the prior year, the firm posted $1.55 EPS. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of 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 purchasing an additional 164 shares during the last quarter. Maseco LLP purchased a new position in Kirby during the 2nd quarter valued at approximately $28,000. IFP Advisors Inc bought a new stake in Kirby in the 2nd quarter worth approximately $29,000. Bell Investment Advisors Inc raised its holdings in shares of Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company's stock worth $32,000 after acquiring an additional 114 shares in the last quarter. Finally, First Horizon Corp bought a new position in shares of Kirby during the 3rd quarter valued at approximately $30,000. Institutional investors own 96.15% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently commented 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 research note on Saturday, November 1st. Bank of America lowered their price objective on Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Wednesday, September 3rd. Citigroup raised Kirby from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $110.00 to $128.00 in a research note on Wednesday, November 5th. Finally, BTIG Research reissued a "buy" rating and set a $125.00 target price on shares of Kirby in a research note on Thursday, September 18th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Kirby currently has an average rating of "Moderate Buy" and a consensus target price of $123.40.
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Kirby Company Profile
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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.
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