Key Points
- Kirby VP Kurt Niemietz sold 1,500 shares on December 1 at an average price of $114.12 for a total of $171,180, reducing his position by 61.03% to 958 shares; the transaction was disclosed in an SEC filing.
- The company posted an EPS beat with $1.65 vs. $1.60 expected and revenue of $871.16 million, and the stock trades with a $6.15 billion market cap and a P/E of 21.05.
- Analyst sentiment is positive overall — MarketBeat shows a consensus "Moderate Buy" with an average price target of $123.40 — and institutional investors own about 96.15% of the shares, with several funds recently increasing positions.
Kirby Corporation (NYSE:KEX - Get Free Report) VP Kurt Niemietz sold 1,500 shares of the company's stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $114.12, for a total value of $171,180.00. Following the completion of the transaction, the vice president owned 958 shares in the company, valued at approximately $109,326.96. The trade was a 61.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Kirby Stock Performance
NYSE:KEX opened at $113.47 on Wednesday. The company has a market capitalization of $6.15 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.05 and a beta of 0.87. The business has a fifty day simple moving average of $96.25 and a two-hundred day simple moving average of $102.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.12. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $125.87.
Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The shipping company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.05. Kirby had a return on equity of 10.06% and a net margin of 9.22%.The firm had revenue of $871.16 million for the quarter, compared to analysts' expectations of $843.29 million. During the same quarter in the prior year, the firm earned $1.55 EPS. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts expect that Kirby Corporation will post 6.57 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages have weighed in on KEX. Wall Street Zen upgraded shares of Kirby from a "hold" rating to a "buy" rating in a research report on Saturday, November 1st. Zacks Research upgraded Kirby from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Kirby in a report on Wednesday, October 8th. Citigroup raised shares of Kirby from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $110.00 to $128.00 in a report on Wednesday, November 5th. Finally, Evercore ISI upped their target price on shares of Kirby from $109.00 to $122.00 and gave the stock an "outperform" rating in a research report on Thursday, October 30th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $123.40.
Read Our Latest Stock Report on KEX
Institutional Trading of Kirby
A number of institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. increased its stake in shares of Kirby by 72.5% in the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company's stock worth $258,900,000 after buying an additional 959,209 shares during the period. Norges Bank purchased a new stake in Kirby during the 2nd quarter valued at $78,256,000. Hood River Capital Management LLC bought a new stake in Kirby in the 2nd quarter worth $73,784,000. Appian Way Asset Management LP increased its position in shares of Kirby by 335.8% in the third quarter. Appian Way Asset Management LP now owns 675,546 shares of the shipping company's stock valued at $56,374,000 after acquiring an additional 520,535 shares during the period. Finally, Millennium Management LLC increased its position in shares of Kirby by 108.4% in the third quarter. Millennium Management LLC now owns 839,662 shares of the shipping company's stock valued at $70,070,000 after acquiring an additional 436,735 shares during the period. Hedge funds and other institutional investors own 96.15% of the company's stock.
Kirby Company Profile
(
Get Free Report)
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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