Kirby Corp. (NYSE:KEX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday.
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. “
Several other brokerages have also issued reports on KEX. Vetr lowered Kirby Corp. from a “hold” rating to a “sell” rating and set a $53.00 price target on the stock. in a research note on Monday, August 8th. Wells Fargo & Co. reissued a “sell” rating on shares of Kirby Corp. in a research note on Tuesday, September 20th. Credit Suisse Group AG lowered Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price target on the stock. in a research note on Tuesday, June 21st. RBC Capital Markets raised Kirby Corp. from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $68.00 in a research note on Tuesday, September 20th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Kirby Corp. in a research report on Tuesday, August 23rd. Two equities research 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. The company presently has an average rating of “Hold” and an average price target of $63.69.
Kirby Corp. (NYSE:KEX) traded down 0.86% during trading on Monday, hitting $59.04. 324,388 shares of the company traded hands. The stock has a 50-day moving average price of $55.25 and a 200-day moving average price of $61.38. The firm has a market capitalization of $3.18 billion, a P/E ratio of 17.32 and a beta of 1.11. Kirby Corp. has a 12-month low of $44.63 and a 12-month high of $73.25.
Kirby Corp. (NYSE:KEX) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.02. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. The firm had revenue of $441.60 million for the quarter, compared to analyst estimates of $454.12 million. During the same period in the previous year, the firm earned $1.04 earnings per share. The company’s revenue was down 18.7% compared to the same quarter last year. Equities analysts expect that Kirby Corp. will post $2.61 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas increased 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. acquired a new position in shares of Kirby Corp. during the first quarter worth about $145,000. Independent Portfolio Consultants Inc. increased 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. increased 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 increased 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. Hedge funds and other institutional investors own 99.43% of the company’s stock.
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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