Kirby Corp. (NYSE:KEX) had its price objective raised by Stifel Nicolaus from $50.00 to $54.00 in a research note released on Wednesday morning. Stifel Nicolaus currently has a hold rating on the stock.
Several other analysts have also recently issued reports on the company. Zacks Investment Research upgraded Kirby Corp. from a strong sell rating to a hold rating and set a $66.00 price objective on the stock in a research note on Monday, September 26th. Wells Fargo & Co. reissued a sell rating on shares of Kirby Corp. in a report on Tuesday, September 20th. RBC Capital Markets raised Kirby Corp. from a sector perform rating to an outperform rating and increased their target price for the company from $55.00 to $68.00 in a report on Tuesday, September 20th. Royal Bank Of Canada raised Kirby Corp. from a sector perform rating to an outperform rating and increased their target price for the company from $55.00 to $68.00 in a report on Tuesday, September 20th. Finally, Jefferies Group reissued a buy rating on shares of Kirby Corp. in a report on Monday, September 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Kirby Corp. currently has an average rating of Hold and an average target price of $62.85.
Kirby Corp. (NYSE:KEX) opened at 62.16 on Wednesday. The stock has a 50 day moving average price of $55.94 and a 200-day moving average price of $61.37. The stock has a market capitalization of $3.35 billion, a P/E ratio of 18.23 and a beta of 1.12. Kirby Corp. has a one year low of $44.63 and a one year high of $73.25.
Kirby Corp. (NYSE:KEX) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.02. The business had revenue of $441.60 million for 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%. The company’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same period last year, the firm earned $1.04 earnings per share. Analysts anticipate that Kirby Corp. will post $2.61 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in KEX. Macquarie Group Ltd. raised its position in Kirby Corp. by 1.4% in the second quarter. Macquarie Group Ltd. now owns 434,861 shares of the company’s stock worth $27,131,000 after buying an additional 5,996 shares in the last quarter. Mason Street Advisors LLC bought a new position in Kirby Corp. during the second quarter worth about $1,533,000. Wolverine Asset Management LLC bought a new position in Kirby Corp. during the second quarter worth about $623,000. Royal Bank of Canada raised its position in Kirby Corp. by 11.9% in the second quarter. Royal Bank of Canada now owns 39,943 shares of the company’s stock worth $2,490,000 after buying an additional 4,234 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Kirby Corp. by 8.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 192,365 shares of the company’s stock worth $12,002,000 after buying an additional 15,682 shares in the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.
Kirby Corp. Company Profile
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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