Kirby (NYSE:KEX) Stock Price Up 8.5% - What's Next?

Kirby Co. (NYSE:KEX - Get Free Report)'s share price was up 8.5% during trading on Thursday . The company traded as high as $115.17 and last traded at $115.58. Approximately 661,647 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 680,318 shares. The stock had previously closed at $106.56.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Stifel Nicolaus decreased their target price on shares of Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday. StockNews.com cut shares of Kirby from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Kirby has a consensus rating of "Moderate Buy" and a consensus target price of $124.40.

Kirby Trading Down 1.9 %

The firm has a market capitalization of $6.15 billion, a P/E ratio of 21.82, a P/E/G ratio of 0.55 and a beta of 1.19. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $111.96 and a 200-day simple moving average of $117.71.

Kirby (NYSE:KEX - Get Free Report) last announced 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 9.78%. On average, equities research analysts forecast that Kirby Co. will post 6.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Christian G. O'neil sold 15,041 shares of the company's stock in a transaction on 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 sale, the chief operating officer now owns 7,746 shares of the company's stock, valued at $1,006,980. This represents a 66.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Ross Stewart sold 8,000 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total value of $1,025,680.00. Following the sale, the director now directly owns 15,488 shares in the company, valued at $1,985,716.48. The trade was a 34.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,354 shares of company stock worth $3,275,455 over the last quarter. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kirby

Several hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock valued at $25,000 after buying an additional 168 shares during the period. Empowered Funds LLC acquired a new position in shares of Kirby in the 4th quarter valued at $25,000. ORG Wealth Partners LLC acquired a new position in shares of Kirby during the 3rd quarter worth about $30,000. Brooklyn Investment Group acquired a new position in shares of Kirby during the third quarter valued at approximately $42,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Kirby in the third quarter worth approximately $52,000. 96.15% of the stock is currently owned by institutional investors.

Kirby Company Profile

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.