Kirby Corporation (NYSE:KEX - Get Free Report) CEO David Grzebinski sold 34,152 shares of Kirby stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the completion of the transaction, the chief executive officer owned 98,241 shares of the company's stock, valued at $12,776,242.05. This trade represents a 25.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Kirby Stock Down 0.3%
Shares of KEX opened at $129.74 on Friday. The business's fifty day moving average price is $121.90 and its two-hundred day moving average price is $105.59. 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 firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 20.50, a PEG 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 $132.41.
Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, beating 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 business had revenue of $851.78 million for the quarter, compared to analysts' expectations of $857.82 million. During the same quarter in the previous year, the business posted $1.29 EPS. Kirby's revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts predict that Kirby Corporation will post 6.57 earnings per share for the current year.
Institutional Trading of Kirby
Hedge funds have recently made changes to their positions in the company. Maseco LLP purchased a new stake in shares of Kirby during the 4th quarter valued at approximately $27,000. Rothschild Investment LLC raised its holdings in Kirby by 2,600.0% during the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company's stock valued at $30,000 after acquiring an additional 260 shares during the period. Bell Investment Advisors Inc lifted its position in shares of Kirby by 67.1% during the second 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. Smartleaf Asset Management LLC boosted its holdings in shares of Kirby by 537.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company's stock worth $34,000 after acquiring an additional 258 shares during the period. Finally, First Horizon Corp purchased a new position in shares of Kirby in the third quarter valued at $30,000. 96.15% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on KEX. BTIG Research reduced their target price on Kirby from $140.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, January 29th. Wall Street Zen upgraded shares of Kirby from a "hold" rating to a "buy" rating in a report on Saturday, November 1st. Citigroup raised their target price on shares of Kirby from $145.00 to $147.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Evercore raised their price objective on Kirby from $109.00 to $122.00 and gave the stock an "outperform" rating in a research note on Thursday, October 30th. Finally, Zacks Research downgraded Kirby from a "hold" rating to a "strong sell" rating in a research note on Thursday, February 12th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Kirby presently has a consensus rating of "Moderate Buy" and an average target price 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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