Stifel Nicolaus Has Lowered Expectations for Kirby (NYSE:KEX) Stock Price

Kirby (NYSE:KEX) had its price target decreased by equities researchers at Stifel Nicolaus from $136.00 to $135.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 24.07% from the company’s previous close.

Separately, StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $124.40.

Kirby Trading Down 3.0 %

Shares of NYSE:KEX traded down $3.31 during mid-day trading on Friday, reaching $108.81. 363,947 shares of the company’s stock were exchanged, compared to its average volume of 732,841. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 0.53 and a beta of 1.21. The business’s fifty day moving average price is $112.70 and its 200-day moving average price is $117.98. 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 twelve month low of $78.63 and a twelve month high of $132.21.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Kirby had a return on equity of 9.43% and a net margin of 9.37%. On average, research analysts predict that Kirby will post 5.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard Ross Stewart sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the sale, the director now owns 15,488 shares of the company’s stock, valued at approximately $1,985,716.48. This represents a 34.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Christian G. O’neil sold 15,041 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 directly owns 7,746 shares in the company, valued at $1,006,980. This trade represents a 66.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,354 shares of company stock worth $3,275,455. 1.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Kirby

Institutional investors have recently made changes to their positions in the business. Quest Partners LLC lifted its position in shares of Kirby by 0.7% in the 3rd quarter. Quest Partners LLC now owns 12,462 shares of the shipping company’s stock worth $1,526,000 after purchasing an additional 89 shares during the period. Americana Partners LLC increased its stake in Kirby by 2.1% during the 3rd quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock valued at $600,000 after purchasing an additional 100 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Kirby by 1.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company’s stock valued at $895,000 after purchasing an additional 108 shares in the last quarter. Huntington National Bank increased its stake in Kirby by 8.5% during the 3rd quarter. Huntington National Bank now owns 1,668 shares of the shipping company’s stock valued at $204,000 after purchasing an additional 130 shares in the last quarter. Finally, Creative Planning grew its stake in shares of Kirby by 2.2% in the third quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock worth $818,000 after acquiring an additional 147 shares during the period. 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.