Key Points
- Kirby VP Amy Husted sold 11,667 shares on Feb. 20 at an average price of $129.33 for a total of $1,508,893.11, reducing her position by 44.06% to 14,814 shares (worth about $1.92M).
- Kirby beat EPS estimates ($1.68 vs. $1.62) while revenue was slightly below expectations at $851.8M but up 6.2% year-over-year; the stock trades near its 52-week high (~$132) with a P/E of about 20.3.
- Large institutional buying has increased stakes (notably Goldman Sachs and First Trust), leaving roughly 96.15% of shares owned by institutions, and analysts show a consensus rating of "Moderate Buy" with a $129.40 price target.
Kirby Corporation (NYSE:KEX - Get Free Report) VP Amy Husted sold 11,667 shares of the company's stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $129.33, for a total transaction of $1,508,893.11. Following the completion of the sale, the vice president owned 14,814 shares in the company, valued at $1,915,894.62. This represents a 44.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Kirby Price Performance
KEX stock opened at $128.60 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 1.53. The business has a 50-day simple moving average of $120.71 and a two-hundred day simple moving average of $105.03. The company has a market capitalization of $6.90 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 1.17 and a beta of 0.88. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $132.18.
Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The firm had revenue of $851.78 million during the quarter, compared to the consensus estimate of $857.82 million. During the same period in the prior year, the business posted $1.29 earnings per share. The company's quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts expect that Kirby Corporation will post 6.57 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in shares of Kirby by 92.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company's stock worth $287,803,000 after purchasing an additional 1,251,700 shares during the period. First Trust Advisors LP increased its position in Kirby by 109.4% in the fourth quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company's stock worth $248,640,000 after buying an additional 1,178,963 shares during the last quarter. Alliancebernstein L.P. raised 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 valued at $258,900,000 after buying an additional 959,209 shares during the period. Norges Bank purchased a new position in shares of Kirby during the 4th quarter valued at $81,355,000. Finally, Hood River Capital Management LLC bought a new position in shares of Kirby during the 2nd quarter worth $73,784,000. 96.15% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Zacks Research downgraded shares of Kirby from a "hold" rating to a "strong sell" rating in a report on Thursday, February 12th. Citigroup boosted their price target on shares of Kirby from $145.00 to $147.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Evercore upped their price objective 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. Weiss Ratings raised shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, February 18th. Finally, BTIG Research cut their target price on Kirby from $140.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, January 29th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Kirby currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.40.
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Kirby Company Profile
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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.
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