Kirby Corporation (NYSE:KEX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Kirby Corporation (NYSE:KEX) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $114.50.

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Kirby from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 3rd. BTIG Research reissued a “buy” rating and set a $125.00 price target on shares of Kirby in a research report on Thursday, September 18th. Citigroup initiated coverage on shares of Kirby in a research report on Monday, September 22nd. They set a “neutral” rating and a $91.00 price target for the company. Finally, Bank of America reduced their price objective on Kirby from $110.00 to $107.00 and set a “buy” rating on the stock in a research note on Wednesday, September 3rd.

Kirby Stock Up 0.7%

KEX stock opened at $84.70 on Monday. Kirby has a twelve month low of $81.90 and a twelve month high of $132.21. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $4.73 billion, a P/E ratio of 16.01, a PEG ratio of 0.86 and a beta of 1.09. The firm has a 50 day simple moving average of $96.96 and a 200-day simple moving average of $102.78.

Kirby (NYSE:KEX) last released its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.08. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The business had revenue of $855.46 million during the quarter, compared to the consensus estimate of $851.94 million. During the same quarter last year, the company earned $1.43 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts predict that Kirby will post 6.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kirby

Several large investors have recently added to or reduced their stakes in KEX. ProShare Advisors LLC lifted its stake in Kirby by 6.4% during the fourth quarter. ProShare Advisors LLC now owns 2,685 shares of the shipping company’s stock worth $284,000 after purchasing an additional 161 shares during the last quarter. Tidal Investments LLC lifted its stake in Kirby by 5.8% during the fourth quarter. Tidal Investments LLC now owns 10,381 shares of the shipping company’s stock worth $1,098,000 after purchasing an additional 573 shares during the last quarter. Two Sigma Investments LP lifted its stake in Kirby by 13.4% in the fourth quarter. Two Sigma Investments LP now owns 82,296 shares of the shipping company’s stock valued at $8,707,000 after buying an additional 9,722 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Kirby by 64.5% in the fourth quarter. Two Sigma Advisers LP now owns 10,200 shares of the shipping company’s stock valued at $1,079,000 after buying an additional 4,000 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Kirby in the fourth quarter valued at $6,060,000. 96.15% of the stock is currently owned by institutional investors.

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.