Analysts Set Kirby Co. (KEX) Price Target at $89.71

Shares of Kirby Co. (NYSE:KEX) have earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $89.71.

Several analysts have weighed in on KEX shares. Stifel Nicolaus boosted their price target on shares of Kirby from $96.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, May 25th. Zacks Investment Research raised shares of Kirby from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Wednesday, May 2nd. ValuEngine raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. Gabelli raised shares of Kirby from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Monday, July 30th. Finally, Wells Fargo & Co boosted their price target on shares of Kirby from $89.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 1st.

In other Kirby news, Director William M. Waterman sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $90.52, for a total value of $2,263,000.00. Following the transaction, the director now owns 87,832 shares in the company, valued at $7,950,552.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David R. Mosley sold 7,447 shares of the business’s stock in a transaction dated Thursday, May 24th. The shares were sold at an average price of $90.40, for a total transaction of $673,208.80. Following the completion of the transaction, the vice president now owns 17,293 shares in the company, valued at approximately $1,563,287.20. The disclosure for this sale can be found here. Insiders sold 52,483 shares of company stock worth $4,760,131 in the last 90 days. Corporate insiders own 2.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc purchased a new position in shares of Kirby during the second quarter valued at about $163,000. Cubist Systematic Strategies LLC purchased a new position in shares of Kirby during the first quarter valued at about $193,000. Greenwood Capital Associates LLC purchased a new position in shares of Kirby during the second quarter valued at about $206,000. Trust Co purchased a new position in shares of Kirby during the first quarter valued at about $210,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Kirby during the second quarter valued at about $210,000. Hedge funds and other institutional investors own 92.84% of the company’s stock.

Kirby stock traded up $0.15 during mid-day trading on Thursday, hitting $86.75. The company’s stock had a trading volume of 343,700 shares, compared to its average volume of 461,578. The company has a quick ratio of 1.17, a current ratio of 1.86 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $5.10 billion, a PE ratio of 42.29, a P/E/G ratio of 2.25 and a beta of 0.93. Kirby has a 12 month low of $59.38 and a 12 month high of $94.05.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Wednesday, July 25th. The shipping company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.07. The business had revenue of $802.70 million during the quarter, compared to the consensus estimate of $765.43 million. Kirby had a net margin of 11.49% and a return on equity of 4.77%. The firm’s revenue for the quarter was up 69.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. equities analysts expect that Kirby will post 2.84 earnings per share for the current fiscal year.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

Further Reading: Market Capitalization in the Stock Market

Analyst Recommendations for Kirby (NYSE:KEX)

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