BidaskClub upgraded shares of Kirby Corporation (NYSE:KEX) from a sell rating to a hold rating in a research note released on Tuesday, June 13th.
Several other analysts have also recently issued reports on the stock. Jefferies Group LLC reissued a buy rating and set a $85.00 price target on shares of Kirby Corporation in a research report on Tuesday, May 30th. Zacks Investment Research raised shares of Kirby Corporation from a sell rating to a hold rating in a research report on Friday, April 28th. Cowen and Company increased their price target on shares of Kirby Corporation from $65.00 to $70.00 and gave the stock a market perform rating in a research report on Thursday, April 27th. Finally, Credit Suisse Group raised shares of Kirby Corporation from a neutral rating to an outperform rating and raised their target price for the company from $58.00 to $80.00 in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $66.00.
Shares of Kirby Corporation (KEX) traded down 0.38% on Tuesday, hitting $65.00. 563,435 shares of the stock traded hands. The stock has a 50-day moving average price of $67.76 and a 200 day moving average price of $68.26. The firm has a market cap of $3.51 billion, a P/E ratio of 26.80 and a beta of 0.94. Kirby Corporation has a 52 week low of $50.80 and a 52 week high of $74.50.
Kirby Corporation (NYSE:KEX) last issued its quarterly earnings results on Wednesday, April 26th. The shipping company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The business had revenue of $491.70 million for the quarter, compared to analyst estimates of $423.91 million. Kirby Corporation had a return on equity of 5.46% and a net margin of 7.25%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. Equities research analysts predict that Kirby Corporation will post $2.05 EPS for the current fiscal year.
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Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Kirby Corporation by 12,366.8% in the first quarter. BlackRock Inc. now owns 5,003,672 shares of the shipping company’s stock valued at $353,010,000 after buying an additional 4,963,536 shares in the last quarter. Vanguard Group Inc. increased its stake in Kirby Corporation by 5.3% in the first quarter. Vanguard Group Inc. now owns 4,159,390 shares of the shipping company’s stock worth $293,445,000 after buying an additional 208,693 shares during the period. Dimensional Fund Advisors LP increased its stake in Kirby Corporation by 11.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,903,448 shares of the shipping company’s stock worth $134,285,000 after buying an additional 195,368 shares during the period. Fiduciary Management Inc. WI increased its stake in Kirby Corporation by 2.7% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,371,988 shares of the shipping company’s stock worth $91,237,000 after buying an additional 36,051 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Kirby Corporation by 33.6% in the first quarter. Bank of New York Mellon Corp now owns 1,275,763 shares of the shipping company’s stock worth $90,006,000 after buying an additional 320,566 shares during the period.
About Kirby Corporation
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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