Brokerages Set Kirby Co. (NYSE:KEX) Target Price at $123.80

Shares of Kirby Co. (NYSE:KEX) have received a consensus rating of “Buy” from the five ratings firms that are covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $123.80.

A number of research firms have weighed in on KEX. Bank of America increased their price objective on Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com cut Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd.

Insiders Place Their Bets

In related news, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the sale, the vice president now directly owns 5,280 shares in the company, valued at $668,131.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $110.21, for a total value of $305,281.70. Following the completion of the sale, the chief operating officer now owns 16,079 shares in the company, valued at $1,772,066.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the vice president now owns 5,280 shares in the company, valued at $668,131.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,012 shares of company stock worth $5,571,267. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Kirby

Several institutional investors and hedge funds have recently made changes to their positions in KEX. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Kirby during the 2nd quarter worth approximately $108,000. Sanctuary Advisors LLC purchased a new stake in shares of Kirby in the second quarter valued at $970,000. Clearbridge Investments LLC purchased a new stake in shares of Kirby in the second quarter valued at $239,000. Truist Financial Corp acquired a new stake in shares of Kirby during the second quarter valued at $1,050,000. Finally, Point72 Asset Management L.P. purchased a new stake in Kirby during the 2nd quarter worth about $11,186,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Performance

Shares of KEX opened at $122.42 on Wednesday. The company’s 50 day simple moving average is $118.42 and its 200-day simple moving average is $113.87. Kirby has a 12-month low of $72.11 and a 12-month high of $130.90. The firm has a market cap of $7.16 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 0.77 and a beta of 1.17. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32.

Kirby (NYSE:KEX) last posted its quarterly earnings data 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 net margin of 8.72% and a return on equity of 8.70%. The company had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. During the same period in the previous year, the business posted $0.95 earnings per share. Kirby’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, equities analysts predict that Kirby will post 5.46 EPS for the current year.

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.