StockNews.com Downgrades Kirby (NYSE:KEX) to Hold

StockNews.com downgraded shares of Kirby (NYSE:KEX) from a buy rating to a hold rating in a report issued on Thursday morning.

Kirby Price Performance

Kirby stock opened at $103.89 on Thursday. Kirby has a 52 week low of $74.88 and a 52 week high of $132.21. The firm has a market cap of $5.96 billion, a P/E ratio of 19.94, a P/E/G ratio of 0.69 and a beta of 1.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. The business’s fifty day moving average is $117.29 and its two-hundred day moving average is $119.03.

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

Insider Activity at Kirby

In other Kirby news, Director Richard Ross Stewart sold 8,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 15,488 shares in the company, valued at approximately $1,985,716.48. This represents a 34.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christian G. O’neil sold 15,041 shares of Kirby 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 owns 7,746 shares of the company’s stock, valued at approximately $1,006,980. This represents a 66.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,354 shares of company stock valued at $3,275,455 over the last quarter. Corporate insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Kirby

A number of hedge funds and other institutional investors have recently bought and sold shares of KEX. Choreo LLC acquired a new position in shares of Kirby in the 2nd quarter valued at $305,000. AGF Management Ltd. bought a new position in Kirby during the second quarter worth about $1,632,000. American Century Companies Inc. grew its position in shares of Kirby by 12.5% during the 2nd quarter. American Century Companies Inc. now owns 25,067 shares of the shipping company’s stock worth $3,001,000 after buying an additional 2,788 shares during the period. Nicholas Investment Partners LP bought a new stake in shares of Kirby in the 2nd quarter valued at about $5,270,000. Finally, Meeder Asset Management Inc. raised its position in shares of Kirby by 78.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 23,776 shares of the shipping company’s stock valued at $2,847,000 after acquiring an additional 10,449 shares during the period. 96.15% of the stock is owned by institutional investors.

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.