Kirby (NYSE:KEX) Hits New 1-Year Low - What's Next?

Kirby Co. (NYSE:KEX - Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $93.31 and last traded at $93.75, with a volume of 265307 shares changing hands. The stock had previously closed at $103.15.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KEX. StockNews.com lowered Kirby from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. Bank of America lowered their target price on shares of Kirby from $133.00 to $123.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Finally, Stifel Nicolaus decreased their price target on shares of Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, January 31st.

Kirby Stock Performance

The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.88 and a beta of 0.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05. The firm has a fifty day moving average of $101.71 and a 200 day moving average of $112.11.

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

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Insiders Place Their Bets

In other news, VP Scott P. Miller sold 1,244 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the completion of the sale, the vice president now owns 5,545 shares in the company, valued at $596,697.45. This trade represents a 18.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KEX. Norges Bank acquired a new position in shares of Kirby in the 4th quarter valued at $74,293,000. Select Equity Group L.P. raised its holdings 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 period. First Trust Advisors LP lifted its position in Kirby by 69.7% in the fourth quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock valued at $92,712,000 after buying an additional 359,770 shares during the last quarter. Franklin Resources Inc. lifted its position in Kirby by 848.5% in the fourth quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock valued at $41,648,000 after buying an additional 352,144 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its stake in Kirby by 112.0% during the fourth quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock worth $40,504,000 after buying an additional 202,272 shares during the period. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

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.