Short Interest in Kirby Co. (NYSE:KEX) Rises By 56.8%

Kirby Co. (NYSE:KEX) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 940,700 shares, a growth of 56.8% from the December 15th total of 599,900 shares. Based on an average trading volume of 518,700 shares, the short-interest ratio is presently 1.8 days. Currently, 1.7% of the company’s stock are sold short.

Kirby Stock Performance

Shares of KEX stock traded up $0.42 during midday trading on Friday, hitting $111.91. 804,371 shares of the company were exchanged, compared to its average volume of 682,616. Kirby has a 52 week low of $76.12 and a 52 week high of $132.21. The firm has a market capitalization of $6.42 billion, a P/E ratio of 21.48, a PEG ratio of 0.52 and a beta of 1.21. The firm’s 50 day moving average price is $115.90 and its two-hundred day moving average price is $118.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67.

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, topping analysts’ consensus estimates of $1.47 by $0.08. The company 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 business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 earnings per share. As a group, equities research analysts anticipate that Kirby will post 5.45 earnings per share for the current year.

Insider Activity

In other Kirby news, VP Ronald A. Dragg sold 2,313 shares of the 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 trade represents a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $1,955,330.00. Following the transaction, the chief operating officer now owns 7,746 shares in the company, valued at $1,006,980. This represents a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,354 shares of company stock worth $3,275,455 in the last quarter. Corporate insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KEX. Quest Partners LLC raised its stake in Kirby by 0.7% in the third quarter. Quest Partners LLC now owns 12,462 shares of the shipping company’s stock valued at $1,526,000 after purchasing an additional 89 shares in the last quarter. Americana Partners LLC increased its holdings in Kirby by 2.1% in the 3rd quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock valued at $600,000 after buying an additional 100 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Kirby by 1.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company’s stock valued at $895,000 after buying an additional 108 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Kirby by 8.5% during the 3rd quarter. Huntington National Bank now owns 1,668 shares of the shipping company’s stock worth $204,000 after acquiring an additional 130 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Kirby by 3.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company’s stock worth $523,000 after acquiring an additional 133 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.80.

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.