EntryPoint Capital LLC Makes New $272,000 Investment in Kirby Corporation $KEX

Key Points

• EntryPoint Capital LLC has acquired 2,694 shares of Kirby Corporation, valued at approximately $272,000, highlighting increased institutional interest in the company.
• Bank of America raised their price target for Kirby shares from $116 to $125, maintaining a "buy" rating while analysts predict a consensus target price of $130.
• Kirby Corporation reported an earnings per share (EPS) of $1.67 for the last quarter, exceeding expectations and demonstrating a 3.8% increase in quarterly revenue compared to the previous year.

EntryPoint Capital LLC bought a new position in shares of Kirby Corporation (NYSE:KEX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,694 shares of the shipping company's stock, valued at approximately $272,000.

Other large investors have also recently added to or reduced their stakes in the company. Colonial Trust Co SC boosted its holdings in Kirby by 295.3% during the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock worth $27,000 after buying an additional 189 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Kirby during the first quarter worth approximately $28,000. KBC Group NV bought a new stake in Kirby during the first quarter worth approximately $32,000. UMB Bank n.a. boosted its holdings in Kirby by 147.2% during the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock worth $35,000 after buying an additional 209 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in Kirby by 40.7% during the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company's stock worth $40,000 after buying an additional 114 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors.

Kirby Trading Up 0.2%

Shares of NYSE:KEX traded up $0.23 during mid-day trading on Tuesday, hitting $98.15. The stock had a trading volume of 520,980 shares, compared to its average volume of 618,952. Kirby Corporation has a 12-month low of $83.94 and a 12-month high of $132.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74. The company has a market cap of $5.48 billion, a PE ratio of 18.55, a P/E/G ratio of 1.01 and a beta of 1.01. The company's 50 day moving average is $109.52 and its 200-day moving average is $105.07.

Kirby (NYSE:KEX - Get Free Report) last released its earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) 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 company had revenue of $855.46 million during the quarter, compared to the consensus estimate of $851.94 million. During the same quarter in the prior year, the firm earned $1.43 EPS. The company's revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Kirby Corporation will post 6.57 EPS for the current year.

Analyst Ratings Changes

Separately, Bank of America upped their price target on shares of Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $130.00.

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.