Rice Hall James & Associates LLC purchased a new stake in Kirby Corporation (NYSE:KEX – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,631 shares of the shipping company’s stock, valued at approximately $494,000.
Other large investors have also recently bought and sold shares of the company. Simplicity Wealth LLC acquired a new position in Kirby in the second quarter valued at $845,000. Global Retirement Partners LLC purchased a new stake in Kirby during the 2nd quarter valued at approximately $306,000. Bank of New York Mellon Corp purchased a new stake in Kirby during the 2nd quarter valued at approximately $43,041,000. State of Wyoming acquired a new stake in Kirby during the 2nd quarter worth approximately $547,000. Finally, Bellars Harris Wealth Management LLC purchased a new position in shares of Kirby in the 2nd quarter valued at approximately $7,507,000. Institutional investors and hedge funds own 96.15% of the company’s stock.
Kirby Stock Down 0.9%
KEX opened at $139.84 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 1.12. Kirby Corporation has a 12 month low of $79.51 and a 12 month high of $157.69. The stock has a market capitalization of $7.38 billion, a P/E ratio of 21.51, a P/E/G ratio of 1.24 and a beta of 0.84. The business has a 50 day simple moving average of $138.71 and a 200-day simple moving average of $136.95.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on KEX shares. BTIG Research restated a “buy” rating and set a $170.00 price target on shares of Kirby in a research note on Wednesday, July 29th. Citigroup boosted their price objective on shares of Kirby from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Bank of America upped their price objective on shares of Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Evercore restated an “outperform” rating and issued a $158.00 target price on shares of Kirby in a research note on Friday, May 1st. Finally, Weiss Ratings raised shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.20.
Read Our Latest Stock Analysis on KEX
Kirby Profile
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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