Kirby (NYSE:KEX) Stock Price Target Lowered at Citigroup

Kirby (NYSE:KEX – Get Free Report) had its price objective reduced by stock analysts at Citigroup from $170.00 to $169.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Citigroup’s price objective would suggest a potential upside of 22.34% from the stock’s current price.

Several other equities analysts also recently commented on KEX. Weiss Ratings raised shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, September 14th. Bank of America boosted their target price on shares of Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. BTIG Research reiterated a “buy” rating and set a $170.00 price target on shares of Kirby in a report on Wednesday, July 29th. Finally, Wall Street Zen cut Kirby from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.00.

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Kirby Price Performance

Kirby stock traded up $0.78 during midday trading on Thursday, reaching $138.14. The company’s stock had a trading volume of 356,717 shares, compared to its average volume of 641,470. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30. The stock has a market cap of $7.29 billion, a PE ratio of 21.25, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. Kirby has a 52 week low of $79.51 and a 52 week high of $157.69. The business has a 50-day moving average price of $136.54 and a 200-day moving average price of $139.84.

Kirby (NYSE:KEX – Get Free Report) last posted its earnings results on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.04. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The firm had revenue of $922.40 million during the quarter, compared to analysts’ expectations of $870.38 million. During the same quarter in the prior year, the business earned $1.67 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. On average, sell-side analysts predict that Kirby will post 7.11 EPS for the current year.

Institutional Investors Weigh In On Kirby

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Kirby during the 2nd quarter worth approximately $733,274,000. Dimensional Fund Advisors LP increased its position in Kirby by 5.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,617,538 shares of the shipping company’s stock valued at $347,829,000 after acquiring an additional 133,030 shares during the period. Congress Asset Management Co. raised its stake in shares of Kirby by 8.2% during the third quarter. Congress Asset Management Co. now owns 761,099 shares of the shipping company’s stock valued at $99,894,000 after acquiring an additional 57,371 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Kirby by 3.3% during the first quarter. Jennison Associates LLC now owns 758,029 shares of the shipping company’s stock valued at $100,727,000 after acquiring an additional 24,147 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Kirby during the second quarter worth $69,359,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

About Kirby

(Get Free Report)

Kirby Corporation is a marine transportation and engine-services company headquartered in Houston, Texas. Founded in 1921, the company operates primarily in the United States and is one of the largest domestic operators of tank barges.

Through its marine transportation business, Kirby transports bulk liquid products on the nation’s inland waterway system and along the U.S. coast. Its cargoes include refined petroleum products, petrochemicals, black oil, agricultural chemicals and other specialty liquids.

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