Key Points
- CFO Raj Kumar sold 3,000 shares on March 2 at an average price of $132.70 for about $398,100, cutting his ownership by 40.03% to 4,494 shares (transaction disclosed in an SEC filing).
- Kirby reported Q4 EPS of $1.68 (beat by $0.06) with revenue of $851.8M (up 6.2% YoY but slightly below expectations); the stock trades near $132, has a $7.1B market cap, and carries a consensus analyst rating of Moderate Buy (target ~$129.40).
Kirby Corporation (NYSE:KEX - Get Free Report) CFO Raj Kumar sold 3,000 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $132.70, for a total value of $398,100.00. Following the completion of the sale, the chief financial officer owned 4,494 shares in the company, valued at $596,353.80. This represents a 40.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Kirby Price Performance
NYSE KEX traded down $1.14 during trading on Thursday, hitting $132.38. 29,618 shares of the stock traded hands, compared to its average volume of 751,644. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $134.69. The firm has a 50-day simple moving average of $123.62 and a 200-day simple moving average of $106.61. The company has a market capitalization of $7.10 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 1.20 and a beta of 0.83.
Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share (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 business had revenue of $851.78 million for the quarter, compared to analysts' expectations of $857.82 million. During the same period in the prior year, the firm earned $1.29 EPS. The company's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts predict that Kirby Corporation will post 6.57 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Wolfe Research reissued an "outperform" rating and issued a $136.00 price objective on shares of Kirby in a research note on Friday, January 30th. BTIG Research dropped their price target on Kirby from $140.00 to $135.00 and set a "buy" rating for the company in a research report on Thursday, January 29th. Weiss Ratings raised Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, February 18th. Citigroup raised their price objective on Kirby from $145.00 to $147.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Finally, Zacks Research cut Kirby from a "hold" rating to a "strong sell" rating in a report on Thursday, February 12th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Kirby has an average rating of "Moderate Buy" and a consensus target price of $129.40.
View Our Latest Report on KEX
Hedge Funds Weigh In On Kirby
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Kirby by 2.4% in the third quarter. Vanguard Group Inc. now owns 5,667,853 shares of the shipping company's stock worth $472,982,000 after purchasing an additional 134,261 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Kirby by 92.0% in the fourth 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 last quarter. Dimensional Fund Advisors LP increased its stake in Kirby by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,484,508 shares of the shipping company's stock worth $273,745,000 after buying an additional 93,676 shares during the period. Alliancebernstein L.P. lifted its holdings in Kirby by 72.5% during the 2nd 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 in the last quarter. Finally, First Trust Advisors LP boosted its position in Kirby by 109.4% in the 4th quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company's stock valued at $248,640,000 after buying an additional 1,178,963 shares during the period. Hedge funds and other institutional investors own 96.15% of the company's stock.
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.
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