Wall Street Zen cut shares of Kirby (NYSE:KEX – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.
Several other research analysts also recently weighed in on KEX. Evercore restated an “outperform” rating and issued a $158.00 price target on shares of Kirby in a research note on Friday, May 1st. Weiss Ratings cut shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Bank of America raised their price objective on Kirby from $169.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. BTIG Research reiterated a “buy” rating and issued a $170.00 target price on shares of Kirby in a research report on Wednesday, July 29th. Finally, Citigroup lifted their price objective on Kirby from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.20.
Read Our Latest Analysis on KEX
Kirby Price Performance
Kirby (NYSE:KEX – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.04. Kirby had a return on equity of 10.44% and a net margin of 10.18%.The firm had revenue of $922.40 million during the quarter, compared to analyst estimates of $870.38 million. During the same quarter in the prior year, the company posted $1.67 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, analysts forecast that Kirby will post 7.28 EPS for the current fiscal year.
Insider Activity
In related news, VP William Matthew Woodruff sold 678 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $147.37, for a total value of $99,916.86. Following the completion of the transaction, the vice president owned 9 shares of the company’s stock, valued at approximately $1,326.33. This trade represents a 98.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christian G. O’neil sold 11,287 shares of Kirby stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.93, for a total value of $1,647,111.91. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 15,965 shares of company stock worth $2,328,749. 0.80% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Kirby
Institutional investors have recently modified their holdings of the stock. NewEdge Wealth LLC bought a new position in shares of Kirby during the 2nd quarter valued at approximately $345,000. Great Lakes Advisors LLC purchased a new stake in Kirby during the 2nd quarter valued at $2,649,000. Meeder Advisory Services Inc. purchased a new stake in Kirby during the 2nd quarter valued at $234,000. BlackRock Inc. bought a new stake in Kirby in the second quarter worth $733,274,000. Finally, Deutsche Bank AG bought a new stake in Kirby in the second quarter worth $44,984,000. 96.15% of the stock is owned by institutional investors.
About Kirby
Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.
In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.
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