Kirby Co. (NYSE:KEX) Receives Average Rating of "Buy" from Brokerages

Shares of Kirby Co. (NYSE:KEX - Get Free Report) have been given an average rating of "Buy" by the five analysts that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $123.80.

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of Kirby from a "buy" rating to a "hold" rating in a research report on Sunday. Bank of America boosted their target price on shares of Kirby from $138.00 to $141.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd.

Kirby Stock Down 1.1 %

KEX traded down $1.41 during trading hours on Wednesday, hitting $123.40. 315,292 shares of the company's stock were exchanged, compared to its average volume of 462,083. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average is $118.43 and its two-hundred day moving average is $112.86. Kirby has a 1-year low of $72.11 and a 1-year high of $130.90. The stock has a market cap of $7.22 billion, a price-to-earnings ratio of 29.20, a PEG ratio of 0.77 and a beta of 1.17.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The company had revenue of $824.40 million during the quarter, compared to analysts' expectations of $821.65 million. During the same period in the prior year, the company earned $0.95 EPS. Kirby's revenue was up 6.1% compared to the same quarter last year. Sell-side analysts predict that Kirby will post 5.46 earnings per share for the current fiscal year.

Insider Transactions at Kirby

In related news, COO Christian G. O'neil sold 2,770 shares of Kirby stock in a transaction on Monday, August 5th. The shares were sold at an average price of $110.21, for a total value of $305,281.70. Following the transaction, the chief operating officer now directly owns 16,079 shares of the company's stock, valued at $1,772,066.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Kirby news, CEO David W. Grzebinski sold 26,358 shares of the firm's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the completion of the transaction, the chief executive officer now owns 63,399 shares of the company's stock, valued at $7,637,043.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Christian G. O'neil sold 2,770 shares of the company's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the completion of the sale, the chief operating officer now directly owns 16,079 shares in the company, valued at $1,772,066.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,012 shares of company stock worth $5,571,267. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kirby

Several large investors have recently made changes to their positions in KEX. Vanguard Group Inc. boosted its stake in Kirby by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 6,097,723 shares of the shipping company's stock worth $478,549,000 after purchasing an additional 81,808 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Kirby by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 1,828,758 shares of the shipping company's stock valued at $143,521,000 after acquiring an additional 63,611 shares in the last quarter. Jennison Associates LLC raised its holdings in Kirby by 4.1% in the 1st quarter. Jennison Associates LLC now owns 1,401,844 shares of the shipping company's stock worth $133,624,000 after acquiring an additional 54,755 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Kirby by 10.5% in the 1st quarter. Janus Henderson Group PLC now owns 955,587 shares of the shipping company's stock worth $91,086,000 after purchasing an additional 90,586 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Kirby by 21.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 896,257 shares of the shipping company's stock worth $85,432,000 after purchasing an additional 157,880 shares during the last quarter. 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.