Key Points
- Ronald Dragg sold 5,429 shares of Kirby on Feb. 4 at an average price of $122, yielding about $662,338 and cutting his direct ownership by 34.30% to 10,399 shares.
- Kirby reported quarterly EPS of $1.68, beating estimates by $0.06 while revenue was $851.8M (slightly below estimates) and rose 6.2% year-over-year.
- Analysts' consensus is a "Moderate Buy" with an average price target of $129.40, and roughly 96.15% of the stock is held by institutional investors.
Kirby Corporation (NYSE:KEX - Get Free Report) VP Ronald Dragg sold 5,429 shares of Kirby stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $122.00, for a total transaction of $662,338.00. Following the transaction, the vice president directly owned 10,399 shares in the company, valued at approximately $1,268,678. This represents a 34.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Kirby Stock Performance
Shares of Kirby stock opened at $122.61 on Friday. The stock's fifty day simple moving average is $117.87 and its 200 day simple moving average is $103.88. The company has a current ratio of 1.70, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $6.65 billion, a PE ratio of 19.37, a PEG ratio of 1.05 and a beta of 0.88. Kirby Corporation has a 12 month low of $79.51 and a 12 month high of $132.18.
Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.06. Kirby had a return on equity of 10.55% and a net margin of 10.54%.The company had revenue of $851.78 million for the quarter, compared to analyst estimates of $857.82 million. During the same quarter last year, the firm posted $1.29 earnings per share. Kirby's revenue was up 6.2% compared to the same quarter last year. On average, research analysts predict that Kirby Corporation will post 6.57 EPS for the current year.
Institutional Investors Weigh In On Kirby
A number of institutional investors and hedge funds have recently modified their holdings of the company. Maseco LLP acquired a new stake in Kirby in the 4th quarter valued at about $27,000. IFP Advisors Inc acquired a new stake in shares of Kirby in the second quarter valued at approximately $29,000. First Horizon Corp bought a new position in shares of Kirby during the 3rd quarter worth approximately $30,000. Bell Investment Advisors Inc increased 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 during the last quarter. Finally, True Wealth Design LLC raised its stake in Kirby by 466.7% in the 2nd quarter. True Wealth Design LLC now owns 374 shares of the shipping company's stock valued at $42,000 after acquiring an additional 308 shares during the period. 96.15% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on KEX. BTIG Research lowered their target price on Kirby from $140.00 to $135.00 and set a "buy" rating for the company in a report on Thursday, January 29th. Evercore lifted their target price on Kirby from $109.00 to $122.00 and gave the company an "outperform" rating in a research report on Thursday, October 30th. Wall Street Zen raised shares of Kirby from a "hold" rating to a "buy" rating in a research note on Saturday, November 1st. Citigroup raised their target price on shares of Kirby from $145.00 to $147.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Finally, Wolfe Research reissued an "outperform" rating and set a $136.00 price target on shares of Kirby in a research report on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $129.40.
Get Our Latest Stock Report on KEX
About Kirby
(
Get Free Report)
Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America's largest fleets of inland tank barges and towing vessels. Kirby's fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.
In addition to its marine operations, Kirby's Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
