Kirby (NYSE:KEX) Given New $169.00 Price Target at Citigroup

Key Points

• Citigroup lowered Kirby’s price target to $169 from $170 while maintaining a “buy” rating, implying roughly 22% upside from the stock’s $138.14 price.
• Analyst sentiment remains favorable, with six buy ratings and one hold; Kirby has a “Moderate Buy” consensus rating and an average price target of $163.
• Kirby recently exceeded quarterly expectations, reporting $1.67 in EPS versus $1.63 expected and $922.4 million in revenue, up 7.8% year over year. Institutional investors own approximately 96.15% of the company’s shares.

Kirby (NYSE:KEX - Get Free Report) had its target price cut by analysts at Citigroup from $170.00 to $169.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the shipping company's stock. Citigroup's target price indicates a potential upside of 22.34% from the company's current price.

Other equities analysts also recently issued reports about the stock. Weiss Ratings upgraded shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, September 14th. Bank of America lifted their target price on shares of Kirby from $169.00 to $182.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Wall Street Zen lowered shares of Kirby from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, BTIG Research reissued a "buy" rating and issued a $170.00 price target on shares of Kirby in a report on Wednesday, July 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $163.00.

Kirby Stock Performance

NYSE:KEX traded up $0.78 on Thursday, hitting $138.14. The company's stock had a trading volume of 356,717 shares, compared to its average volume of 641,470. Kirby has a one year low of $79.51 and a one year high of $157.69. The firm has a market capitalization of $7.29 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84. The stock has a fifty day moving average of $136.54 and a two-hundred day moving average of $139.84. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.63 by $0.04. Kirby had a return on equity of 10.44% and a net margin of 10.18%.The company had revenue of $922.40 million during the quarter, compared to the consensus estimate of $870.38 million. During the same period in the previous year, the company posted $1.67 EPS. The firm'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. Research analysts predict that Kirby will post 7.11 earnings per share for the current year.

Institutional Investors Weigh In On Kirby

A number of institutional investors have recently modified their holdings of KEX. Bank of America Corp DE bought a new stake in shares of Kirby during the 2nd quarter worth approximately $62,549,000. Hsbc Holdings PLC increased its stake in Kirby by 136.7% in the second quarter. Hsbc Holdings PLC now owns 21,319 shares of the shipping company's stock valued at $2,899,000 after acquiring an additional 12,311 shares during the last quarter. HighTower Advisors LLC raised its position in Kirby by 78.0% during the second quarter. HighTower Advisors LLC now owns 35,155 shares of the shipping company's stock valued at $4,780,000 after purchasing an additional 15,406 shares in the last quarter. Mountaineer Partners Management LLC raised its position in Kirby by 33.6% during the fourth quarter. Mountaineer Partners Management LLC now owns 87,444 shares of the shipping company's stock valued at $9,635,000 after purchasing an additional 22,013 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in Kirby during the second quarter worth $9,182,000. Institutional investors own 96.15% of the company's stock.

Kirby Company Profile

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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