Kirby (NYSE:KEX) Downgraded by StockNews.com to “Hold”

Kirby (NYSE:KEX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Kirby Stock Down 2.6 %

Shares of NYSE KEX opened at $110.78 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. Kirby has a 52 week low of $74.88 and a 52 week high of $132.21. The firm’s fifty day moving average is $123.27 and its 200 day moving average is $120.81. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 0.70 and a beta of 1.18.

Kirby (NYSE:KEX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping 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 company had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. During the same period in the previous year, the firm earned $1.05 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Kirby will post 5.45 earnings per share for the current year.

Insider Activity at Kirby

In related news, VP Ronald A. Dragg sold 2,313 shares of Kirby stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the sale, the vice president now owns 7,683 shares in the company, valued at $978,045.90. The trade was a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Christian G. O’neil sold 15,041 shares of Kirby stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the completion of the sale, the chief operating officer now owns 7,746 shares in the company, valued at approximately $1,006,980. This trade represents a 66.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,207 shares of company stock worth $3,636,474 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Kirby

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in shares of Kirby by 420.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after buying an additional 168 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Kirby during the 2nd quarter valued at $26,000. ORG Wealth Partners LLC purchased a new position in shares of Kirby in the 3rd quarter worth about $30,000. Blue Trust Inc. raised its position in shares of Kirby by 91.0% in the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after purchasing an additional 141 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Kirby in the 2nd quarter worth about $37,000. 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.