Kirby (NYSE:KEX) VP Sells $1,118,564.46 in Stock

Kirby Corporation (NYSE:KEX) VP Amy Husted sold 10,413 shares of the company’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $107.42, for a total value of $1,118,564.46. Following the completion of the sale, the vice president owned 11,760 shares of the company’s stock, valued at approximately $1,263,259.20. The trade was a 46.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Kirby Stock Performance

Shares of KEX stock traded up $0.41 during trading hours on Monday, reaching $108.07. 275,269 shares of the company traded hands, compared to its average volume of 732,167. The firm has a 50-day moving average price of $92.34 and a 200 day moving average price of $101.87. The company has a market cap of $5.86 billion, a P/E ratio of 20.05, a P/E/G ratio of 1.05 and a beta of 1.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.12. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $131.30.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.05. The company had revenue of $871.16 million during the quarter, compared to analyst estimates of $843.29 million. Kirby had a net margin of 9.22% and a return on equity of 10.06%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.55 EPS. As a group, sell-side analysts predict that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kirby

Several hedge funds and other institutional investors have recently made changes to their positions in KEX. Armistice Capital LLC bought a new position in Kirby during the 3rd quarter valued at about $208,000. Caxton Associates LLP bought a new position in shares of Kirby during the third quarter valued at approximately $205,000. Sender Co & Partners Inc. purchased a new stake in shares of Kirby in the third quarter worth approximately $360,000. Dark Forest Capital Management LP raised its holdings in shares of Kirby by 170.4% in the third quarter. Dark Forest Capital Management LP now owns 91,437 shares of the shipping company’s stock worth $7,630,000 after buying an additional 57,623 shares during the period. Finally, XTX Topco Ltd lifted its stake in shares of Kirby by 26.8% during the 3rd quarter. XTX Topco Ltd now owns 14,267 shares of the shipping company’s stock worth $1,191,000 after acquiring an additional 3,014 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on KEX. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. BTIG Research reissued a “buy” rating and issued a $125.00 price target on shares of Kirby in a report on Thursday, September 18th. Citigroup upgraded Kirby from a “neutral” rating to a “buy” rating and upped their price target for the stock from $110.00 to $128.00 in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Kirby from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.40.

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.