Kirby (NYSE:KEX) Sets New 1-Year High – Here’s What Happened

Kirby Co. (NYSE:KEX) reached a new 52-week high during trading on Monday . The company traded as high as $131.36 and last traded at $130.99, with a volume of 94199 shares changing hands. The stock had previously closed at $127.29.

Analysts Set New Price Targets

KEX has been the subject of a number of recent analyst reports. Bank of America lifted their price target on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Trading Down 1.3 %

The company’s 50 day simple moving average is $121.93 and its 200 day simple moving average is $119.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 0.77 and a beta of 1.17.

Kirby (NYSE:KEX) last released 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. The firm had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a return on equity of 9.49% and a net margin of 9.37%. Kirby’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 EPS. As a group, research analysts expect that Kirby Co. will post 5.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Christian G. O’neil sold 15,041 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total value of $1,955,330.00. Following the transaction, the chief operating officer now owns 7,746 shares of the company’s stock, valued at $1,006,980. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Kirby news, COO Christian G. O’neil sold 15,041 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the transaction, the chief operating officer now directly owns 7,746 shares in the company, valued at $1,006,980. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David W. Grzebinski sold 26,358 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the sale, the chief executive officer now owns 63,399 shares of the company’s stock, valued at $7,637,043.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,596 shares of company stock worth $7,515,760. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Kirby

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Kirby by 420.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after buying an additional 168 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Kirby in the second quarter valued at $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Kirby in the third quarter valued at about $30,000. ORG Partners LLC acquired a new stake in shares of Kirby during the second quarter worth about $32,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Kirby during the second quarter worth about $33,000. Hedge funds and other 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.