Kirby Corporation (NYSE:KEX - Get Free Report) CEO David Grzebinski sold 18,310 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $141.32, for a total value of $2,587,569.20. Following the sale, the chief executive officer owned 79,931 shares in the company, valued at $11,295,848.92. The trade was a 18.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Kirby Stock Down 9.2%
Shares of KEX opened at $127.84 on Thursday. The firm has a market capitalization of $6.75 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.23 and a beta of 0.81. Kirby Corporation has a 12-month low of $105.10 and a 12-month high of $157.69. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $137.23 and a 200-day moving average price of $136.78.
Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The shipping company reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.00 by $0.09. The business had revenue of $977.21 million for the quarter, compared to the consensus estimate of $938.84 million. Kirby had a return on equity of 10.94% and a net margin of 10.39%. The business's revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.65 EPS. Equities research analysts expect that Kirby Corporation will post 7.26 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Provenance Wealth Advisors LLC purchased a new stake in shares of Kirby in the third quarter valued at approximately $27,000. Pension & Wealth Management Advisors Inc. purchased a new stake in Kirby in the 3rd quarter valued at $45,000. Root Financial Partners LLC grew its holdings in Kirby by 182.9% in the 1st quarter. Root Financial Partners LLC now owns 430 shares of the shipping company's stock valued at $57,000 after buying an additional 278 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Kirby by 488.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 477 shares of the shipping company's stock valued at $65,000 after buying an additional 396 shares in the last quarter. Finally, Fulcrum Asset Management LLP acquired a new stake in shares of Kirby in the 3rd quarter worth $67,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms recently commented on KEX. Stephens lifted their target price on shares of Kirby from $170.00 to $175.00 and gave the stock an "overweight" rating in a research note on Thursday, October 29th. Weiss Ratings raised shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, September 14th. Wall Street Zen cut shares of Kirby from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. lifted their price objective on shares of Kirby from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, October 29th. Finally, Citigroup dropped their price objective on shares of Kirby from $170.00 to $169.00 and set a "buy" rating on the stock in a report on Thursday, October 8th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $171.43.
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About Kirby
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Kirby Corporation is a Houston-based marine transportation and industrial services company. Through its marine transportation operations, the company is the largest tank barge operator in the United States, transporting bulk liquid products on the nation's inland and coastal waterways.
Kirby's marine transportation business carries petrochemicals, refined petroleum products, black oil, agricultural chemicals and other bulk liquids for industrial customers. Its operations primarily serve the U.S.
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