Kirby (NYSE:KEX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Kirby (NYSE:KEX) from a hold rating to a buy rating in a report released on Tuesday morning.

Kirby Trading Up 0.2 %

Shares of KEX stock opened at $118.05 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. Kirby has a fifty-two week low of $72.74 and a fifty-two week high of $132.21. The stock has a market capitalization of $6.78 billion, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18. The company has a 50 day moving average price of $123.73 and a 200 day moving average price of $120.95.

Kirby (NYSE:KEX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The business had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. During the same quarter in the prior year, the business posted $1.05 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts predict that Kirby will post 5.45 EPS for the current fiscal year.

Insider Activity

In related news, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at $668,131.20. This represents a 35.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction 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. This trade represents a 29.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,596 shares of company stock worth $8,541,440. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Kirby

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its position in Kirby by 420.0% during the 3rd 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 purchased a new position in Kirby during the 2nd quarter worth $26,000. ORG Wealth Partners LLC purchased a new position in Kirby during the 3rd quarter worth $30,000. ORG Partners LLC purchased a new position in Kirby during the 2nd quarter worth $32,000. Finally, Blue Trust Inc. raised its position in Kirby by 91.0% during the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

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.