Kirby (NYSE:KEX) Shares Down 4.2% - Here's Why

Kirby Co. (NYSE:KEX - Get Free Report)'s share price traded down 4.2% during trading on Tuesday . The company traded as low as $101.40 and last traded at $102.50. 144,488 shares were traded during mid-day trading, a decline of 71% from the average session volume of 500,271 shares. The stock had previously closed at $106.99.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Kirby from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Kirby currently has a consensus rating of "Moderate Buy" and an average price target of $123.80.

Kirby Stock Down 2.6 %

The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $118.28 and a 200 day moving average of $119.43. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 0.69 and a beta of 1.21.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The company's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. As a group, sell-side analysts predict that Kirby Co. will post 5.45 earnings per share for the current year.

Insider Activity

In other news, VP Ronald A. Dragg sold 2,313 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total transaction of $294,444.90. Following the completion of the sale, the vice president now directly owns 7,683 shares of the company's stock, valued at $978,045.90. The trade was a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Christian G. O'neil sold 15,041 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the completion of the transaction, the chief operating officer now directly owns 7,746 shares in the company, valued at approximately $1,006,980. The trade was a 66.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,354 shares of company stock worth $3,275,455 in the last three months. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Kirby

Several institutional investors have recently bought and sold shares of KEX. Select Equity Group L.P. purchased a new position in shares of Kirby in the 2nd quarter worth approximately $65,928,000. Encompass Capital Advisors LLC boosted its position in Kirby by 33.9% in the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company's stock worth $106,246,000 after purchasing an additional 224,802 shares during the last quarter. Victory Capital Management Inc. grew its stake in Kirby by 68.7% in the 3rd quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company's stock valued at $58,428,000 after purchasing an additional 194,410 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Kirby during the 3rd quarter valued at $22,106,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Kirby by 27.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company's stock worth $85,585,000 after purchasing an additional 152,146 shares during the period. Institutional investors own 96.15% of the company's stock.

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.