4,814 Shares in Kirby Corporation $KEX Acquired by Verdence Capital Advisors LLC

Key Points

• Verdence Capital Advisors LLC acquired 4,814 shares of Kirby Corporation, valued at approximately $546,000, indicating institutional interest in the shipping company.
• Kirby Corporation posted earnings per share of $1.67 for the last quarter, surpassing estimates and showing a 3.8% year-over-year revenue increase.
• Analysts have a consensus price target of $113.40 for Kirby, with recommendations varying from "buy" to "hold" based on recent evaluations.

Verdence Capital Advisors LLC acquired a new position in Kirby Corporation (NYSE:KEX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,814 shares of the shipping company's stock, valued at approximately $546,000.

Several other hedge funds also recently added to or reduced their stakes in KEX. Thurston Springer Miller Herd & Titak Inc. grew its position in Kirby by 244.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company's stock worth $26,000 after acquiring an additional 164 shares during the period. Opal Wealth Advisors LLC purchased a new position in Kirby in the first quarter worth approximately $28,000. Maseco LLP purchased a new position in Kirby in the second quarter worth approximately $28,000. IFP Advisors Inc purchased a new position in Kirby in the second quarter worth approximately $29,000. Finally, KBC Group NV purchased a new position in Kirby in the first quarter worth approximately $32,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Up 0.9%

Shares of NYSE KEX opened at $82.20 on Wednesday. The stock has a market cap of $4.59 billion, a P/E ratio of 15.54, a PEG ratio of 0.85 and a beta of 1.00. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $132.21. The business's fifty day simple moving average is $90.07 and its 200-day simple moving average is $101.19.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.08. The business had revenue of $855.46 million for the quarter, compared to analysts' expectations of $851.94 million. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $1.43 earnings per share. As a group, equities analysts predict that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Analysts Set New Price Targets

KEX has been the subject of several analyst reports. Evercore ISI lowered their price objective on Kirby from $122.00 to $109.00 and set an "outperform" rating for the company in a research report on Thursday, October 9th. Citigroup started coverage on Kirby in a research report on Monday, September 22nd. They set a "neutral" rating and a $91.00 price target for the company. Bank of America lowered their price target on Kirby from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Wednesday, September 3rd. Zacks Research upgraded Kirby from a "strong sell" rating to a "hold" rating in a research report on Wednesday, September 3rd. Finally, BTIG Research restated a "buy" rating and set a $125.00 price target on shares of Kirby in a research report on Thursday, September 18th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Kirby has an average rating of "Moderate Buy" and a consensus price target of $113.40.

Kirby Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.