Kirby Corp. (NYSE:KEX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Kirby Corporation conducts operations in two business segments: marine transportation and diesel repair. The Company’s marine transportation segment is engaged in the inland transportation of industrial chemicals, petrochemical feedstocks, agricultural chemicals and refined petroleum products by tank barge; and in the offshore transportation of refined petroleum products by tanker and tank barge, and dry-bulk, container and palletized cargoes by barge and break-bulk ship. The Company’s diesel repair segment is engaged in the sale, overhaul and repair of diesel engines and related parts sales. “
A number of other equities research analysts have also recently weighed in on the company. Stifel Nicolaus lifted their price target on Kirby Corp. from $50.00 to $54.00 and gave the company a “hold” rating in a report on Wednesday, September 28th. 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 boosted their target price for the stock 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 boosted their target price for the stock 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $62.85.
Shares of Kirby Corp. (NYSE:KEX) opened at 61.68 on Tuesday. Kirby Corp. has a one year low of $44.63 and a one year high of $73.25. The firm has a market cap of $3.32 billion, a PE ratio of 18.09 and a beta of 1.12. The firm’s 50-day moving average price is $56.16 and its 200-day moving average price is $61.40.
Kirby Corp. (NYSE:KEX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.02. The company 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 business’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. Equities research analysts expect that Kirby Corp. will post $2.61 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in Kirby Corp. by 13.3% in the second quarter. Teacher Retirement System of Texas now owns 1,882 shares of the company’s stock valued at $117,000 after buying an additional 221 shares during the last quarter. Kempen Capital Management N.V. purchased a new position in Kirby Corp. during the first quarter valued at $145,000. Independent Portfolio Consultants Inc. boosted its position in Kirby Corp. by 8.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,500 shares of the company’s stock valued at $156,000 after buying an additional 205 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Kirby Corp. by 9.7% in the second quarter. Advisors Asset Management Inc. now owns 2,704 shares of the company’s stock valued at $169,000 after buying an additional 238 shares during the last quarter. Finally, Huntington National Bank boosted its position in Kirby Corp. by 66.4% in the second quarter. Huntington National Bank now owns 3,317 shares of the company’s stock valued at $207,000 after buying an additional 1,324 shares during the last quarter. Hedge funds and other 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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