Kirby (NYSE:KEX) Upgraded at StockNews.com

StockNews.com upgraded shares of Kirby (NYSE:KEX) from a hold rating to a buy rating in a research report report published on Tuesday.

Kirby Price Performance

Shares of NYSE KEX opened at $117.91 on Tuesday. Kirby has a 1-year low of $72.74 and a 1-year high of $132.21. The firm has a market capitalization of $6.77 billion, a P/E ratio of 22.63, a P/E/G ratio of 0.70 and a beta of 1.18. The firm’s 50-day moving average price is $123.57 and its 200-day moving average price is $120.91. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 9.37% and a return on equity of 9.43%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. Equities research analysts anticipate that Kirby will post 5.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Christian G. O’neil sold 15,041 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 7,746 shares in the company, valued at approximately $1,006,980. The trade was a 66.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 in the company, valued at $7,637,043.54. The trade was a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,596 shares of company stock valued at $8,541,440 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. bought a new stake in Kirby during the 3rd quarter worth approximately $5,136,000. Wilmington Savings Fund Society FSB raised its position in shares of Kirby by 112.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,208 shares of the shipping company’s stock worth $638,000 after buying an additional 2,756 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Kirby by 20.3% during the third quarter. Sanctuary Advisors LLC now owns 10,420 shares of the shipping company’s stock worth $1,337,000 after purchasing an additional 1,758 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Kirby by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 961,303 shares of the shipping company’s stock valued at $117,724,000 after buying an additional 2,784 shares in the last quarter. Finally, M&T Bank Corp boosted its holdings in shares of Kirby by 3.5% in the 3rd quarter. M&T Bank Corp now owns 14,787 shares of the shipping company’s stock worth $1,810,000 after purchasing an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

About Kirby

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.