RBC Capital Markets upgraded shares of Kirby Corp. (NYSE:KEX) from a sector perform rating to an outperform rating in a research note released on Tuesday. RBC Capital Markets currently has $68.00 price objective on the stock, up from their previous price objective of $55.00.
Several other brokerages have also recently commented on KEX. Vetr raised Kirby Corp. from a sell rating to a hold rating and set a $67.34 price target for the company in a research report on Tuesday, June 14th. Royal Bank Of Canada raised Kirby Corp. from a sector perform rating to an outperform rating and increased their price target for the company from $55.00 to $68.00 in a research report on Tuesday. Jefferies Group reissued a buy rating on shares of Kirby Corp. in a research report on Monday, August 1st. Finally, Wells Fargo & Co. cut Kirby Corp. from a market perform rating to an underperform rating and set a $46.00 price target for the company. in a research report on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. Kirby Corp. currently has a consensus rating of Hold and an average target price of $63.69.
Kirby Corp. (NYSE:KEX) opened at 59.91 on Tuesday. Kirby Corp. has a 52-week low of $44.63 and a 52-week high of $73.25. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 17.57 and a beta of 1.11. The company has a 50 day moving average price of $54.99 and a 200-day moving average price of $61.35.
Kirby Corp. (NYSE:KEX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. The company earned $441.60 million during the quarter, compared to analysts’ expectations of $454.12 million. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. Kirby Corp.’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. Equities research analysts anticipate that Kirby Corp. will post $2.61 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas raised its position in shares of Kirby Corp. by 13.3% in the second quarter. Teacher Retirement System of Texas now owns 1,882 shares of the company’s stock worth $117,000 after buying an additional 221 shares during the period. Kempen Capital Management N.V. purchased a new position in shares of Kirby Corp. during the first quarter worth $145,000. Independent Portfolio Consultants Inc. raised its position in shares of Kirby Corp. by 8.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,500 shares of the company’s stock worth $156,000 after buying an additional 205 shares during the period. Advisors Asset Management Inc. raised its position in shares of Kirby Corp. by 9.7% in the second quarter. Advisors Asset Management Inc. now owns 2,704 shares of the company’s stock worth $169,000 after buying an additional 238 shares during the period. Finally, LS Investment Advisors LLC raised its position in shares of Kirby Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 3,322 shares of the company’s stock worth $207,000 after buying an additional 1,387 shares during the period. Institutional investors own 99.43% of the company’s stock.
About Kirby Corp.
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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