Kirby (NYSE:KEX) Price Target Raised to $210.00

Kirby (NYSE:KEX – Free Report) had its target price raised by JPMorgan Chase & Co. from $200.00 to $210.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the shipping company’s stock.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut Kirby from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, September 14th. BTIG Research restated a “buy” rating and set a $170.00 price objective on shares of Kirby in a research report on Wednesday, July 29th. Citigroup reduced their target price on Kirby from $170.00 to $169.00 and set a “buy” rating on the stock in a report on Thursday, October 8th. Finally, Bank of America lifted their target price on Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.43.

Check Out Our Latest Report on KEX

Kirby Stock Down 1.4%

NYSE:KEX opened at $144.02 on Thursday. The firm has a 50-day simple moving average of $137.37 and a two-hundred day simple moving average of $136.60. The firm has a market cap of $7.60 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.26 and a beta of 0.84. Kirby has a fifty-two week low of $101.64 and a fifty-two week high of $157.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 1.68.

Kirby (NYSE:KEX – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The shipping company reported $2.09 EPS for the quarter, beating the consensus estimate of $2.00 by $0.09. The company had revenue of $977.21 million for the quarter, compared to analysts’ expectations of $938.84 million. Kirby had a return on equity of 10.94% and a net margin of 10.39%. Kirby’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. Analysts predict that Kirby will post 7.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Provenance Wealth Advisors LLC acquired a new position in Kirby during the third quarter valued at $27,000. Ackerman Capital Advisors LLC acquired a new stake in Kirby during the 3rd quarter worth about $286,000. Vise Technologies Inc. acquired a new stake in Kirby during the 3rd quarter worth about $254,000. Americana Partners LLC raised its stake in shares of Kirby by 6.6% during the 3rd quarter. Americana Partners LLC now owns 5,423 shares of the shipping company’s stock valued at $712,000 after buying an additional 336 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Kirby during the 3rd quarter valued at about $2,530,000. 96.15% of the stock is currently owned by institutional investors.

About Kirby

(Get Free Report)

Kirby Corporation is a Houston-based marine transportation and industrial services company. Through its marine transportation operations, the company is the largest tank barge operator in the United States, transporting bulk liquid products on the nation’s inland and coastal waterways.

Kirby’s marine transportation business carries petrochemicals, refined petroleum products, black oil, agricultural chemicals and other bulk liquids for industrial customers. Its operations primarily serve the U.S.

Further Reading

Analyst Recommendations for Kirby (NYSE:KEX)

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