Kirby Co. (NYSE:KEX) Short Interest Update

Kirby Co. (NYSE:KEX - Get Free Report) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 928,600 shares, an increase of 14.3% from the September 30th total of 812,500 shares. Based on an average daily volume of 449,600 shares, the short-interest ratio is currently 2.1 days. Approximately 1.6% of the company's stock are sold short.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a research note on Sunday, September 22nd. Bank of America raised their price target on Kirby from $138.00 to $141.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $123.80.

Insider Activity at Kirby

In related news, CEO David W. Grzebinski sold 26,358 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the sale, the chief executive officer now owns 63,399 shares of the company's stock, valued at approximately $7,637,043.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Amy D. Husted sold 2,853 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at approximately $668,131.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David W. Grzebinski sold 26,358 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at $7,637,043.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,012 shares of company stock valued at $5,571,267. Insiders own 1.50% of the company's stock.

Institutional Trading of Kirby

A number of institutional investors and hedge funds have recently modified their holdings of KEX. Farther Finance Advisors LLC grew its stake in Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock worth $25,000 after buying an additional 168 shares during the last quarter. International Assets Investment Management LLC bought a new position in Kirby in the 2nd quarter valued at $26,000. ORG Wealth Partners LLC acquired a new position in Kirby in the third quarter worth $30,000. ORG Partners LLC bought a new stake in Kirby during the 2nd quarter worth about $32,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Kirby in the 2nd quarter valued at about $33,000. 96.15% of the stock is currently owned by institutional investors.

Kirby Stock Performance

NYSE KEX traded down $1.73 during midday trading on Tuesday, hitting $123.05. The company had a trading volume of 898,449 shares, compared to its average volume of 452,827. The firm has a fifty day simple moving average of $120.75 and a two-hundred day simple moving average of $117.80. Kirby has a fifty-two week low of $72.11 and a fifty-two week high of $130.90. 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 has a market cap of $7.20 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 0.75 and a beta of 1.17.

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

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.

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