Kirby (NYSE:KEX) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Kirby (NYSE:KEX) from a buy rating to a hold rating in a research note released on Wednesday morning.

Kirby Price Performance

Shares of NYSE:KEX opened at $105.63 on Wednesday. Kirby has a 12 month low of $74.88 and a 12 month high of $132.21. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 0.70 and a beta of 1.18. The stock’s 50 day moving average price is $122.76 and its 200 day moving average price is $120.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. The business had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. Equities research analysts anticipate that Kirby will post 5.45 earnings per share for the current fiscal year.

Insider Activity at Kirby

In other news, VP Ronald A. Dragg sold 2,313 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the sale, the vice president now owns 7,683 shares in the company, valued at $978,045.90. This represents a 23.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard Ross Stewart sold 8,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total value of $1,025,680.00. Following the transaction, the director now directly owns 15,488 shares of the company’s stock, valued at approximately $1,985,716.48. This trade represents a 34.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,354 shares of company stock valued at $3,275,455. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Kirby

A number of large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its stake in Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after buying an additional 168 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Kirby during the second quarter worth $26,000. ORG Wealth Partners LLC purchased a new position in shares of Kirby during the third quarter worth $30,000. Blue Trust Inc. boosted its holdings in Kirby by 91.0% during the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after buying an additional 141 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Kirby during the second quarter worth $37,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

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.