Kirby (NYSE:KEX) Price Target Lowered to $123.00 at Bank of America

Kirby (NYSE:KEX - Get Free Report) had its target price cut by equities researchers at Bank of America from $133.00 to $123.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the shipping company's stock. Bank of America's price target would suggest a potential upside of 21.65% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus cut their price target on shares of Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. StockNews.com lowered Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $124.75.

Kirby Stock Up 0.5 %

Shares of NYSE:KEX traded up $0.50 during midday trading on Friday, reaching $101.11. 552,239 shares of the company were exchanged, compared to its average volume of 530,725. The firm has a market cap of $5.75 billion, a PE ratio of 20.59, a P/E/G ratio of 0.88 and a beta of 1.18. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. Kirby has a fifty-two week low of $93.63 and a fifty-two week high of $132.21. The stock has a fifty day simple moving average of $104.15 and a two-hundred day simple moving average of $113.62.

Remove Ads

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. As a group, sell-side analysts forecast that Kirby will post 6.57 earnings per share for the current year.

Insider Activity

In related news, VP Scott P. Miller sold 1,244 shares of Kirby stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the completion of the transaction, the vice president now owns 5,545 shares in the company, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.

Institutional Trading of Kirby

Hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in Kirby by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 1,762,651 shares of the shipping company's stock valued at $186,488,000 after acquiring an additional 28,259 shares during the period. State Street Corp boosted its holdings in shares of Kirby by 0.7% during the 3rd quarter. State Street Corp now owns 1,667,520 shares of the shipping company's stock worth $204,154,000 after buying an additional 12,337 shares during the period. Select Equity Group L.P. grew its stake in Kirby by 59.0% in the 4th quarter. Select Equity Group L.P. now owns 1,565,693 shares of the shipping company's stock valued at $165,650,000 after buying an additional 581,215 shares during the last quarter. Geode Capital Management LLC raised its holdings in Kirby by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 961,303 shares of the shipping company's stock valued at $117,724,000 after acquiring an additional 2,784 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Kirby by 69.7% during the fourth quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock worth $92,712,000 after purchasing an additional 359,770 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.