Kirby Co. (NYSE:KEX) Sees Significant Growth in Short Interest

Kirby Co. (NYSE:KEX) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 1,500,000 shares, a growth of 20.0% from the January 31st total of 1,250,000 shares. Based on an average trading volume of 634,700 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.7% of the shares of the stock are short sold.

Kirby Stock Down 0.6 %

Shares of Kirby stock traded down $0.58 during trading on Friday, reaching $97.41. 259,025 shares of the company traded hands, compared to its average volume of 662,078. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05. Kirby has a 1-year low of $86.02 and a 1-year high of $132.21. The company has a 50 day moving average price of $106.23 and a 200-day moving average price of $115.56. The firm has a market capitalization of $5.56 billion, a PE ratio of 19.82, a P/E/G ratio of 0.88 and a beta of 1.18.

Kirby (NYSE:KEX) last released its earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. As a group, equities research analysts expect that Kirby will post 6.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Stifel Nicolaus lowered their target price on Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, January 31st. StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.25.

Insider Buying and Selling at Kirby

In other news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the transaction, the vice president now owns 5,545 shares of the company’s stock, valued at approximately $596,697.45. This represents a 18.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kirby

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its position in Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after purchasing an additional 168 shares during the last quarter. Empowered Funds LLC purchased a new stake in Kirby in the 4th quarter valued at about $25,000. Colonial Trust Co SC raised its holdings in shares of Kirby by 295.3% in the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 189 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Kirby during the third quarter valued at approximately $42,000. Finally, Capital Performance Advisors LLP bought a new stake in Kirby during the third quarter valued at about $52,000. 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.