Blueshift Asset Management LLC Invests $385,000 in Kirby Corporation (NYSE:KEX)

Key Points

• Blueshift Asset Management LLC has acquired 3,815 shares of Kirby Corporation (NYSE:KEX), valued at approximately $385,000, during the first quarter.
• Bank of America has raised its target price for Kirby from $116.00 to $125.00 and maintained a "buy" rating on the stock.
• Kirby Corporation reported a net revenue of $855.46 million for the last quarter, exceeding analysts' expectations and showcasing a 3.8% year-over-year revenue growth.

Blueshift Asset Management LLC acquired a new stake in shares of Kirby Corporation (NYSE:KEX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,815 shares of the shipping company's stock, valued at approximately $385,000.

Several other hedge funds have also bought and sold shares of the stock. Colonial Trust Co SC increased its holdings in shares of Kirby by 295.3% in the 4th quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock valued at $27,000 after acquiring an additional 189 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Kirby in the first quarter worth about $28,000. KBC Group NV purchased a new position in Kirby during the first quarter worth about $32,000. UMB Bank n.a. lifted its position in Kirby by 147.2% in the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock valued at $35,000 after buying an additional 209 shares during the last quarter. Finally, Versant Capital Management Inc acquired a new position in shares of Kirby in the first quarter worth $44,000. Institutional investors own 96.15% of the company's stock.

Kirby Trading Up 0.2%

Shares of Kirby stock traded up $0.19 during trading hours on Friday, reaching $95.50. The stock had a trading volume of 1,660,498 shares, compared to its average volume of 696,210. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 0.33. Kirby Corporation has a 1 year low of $83.94 and a 1 year high of $132.21. The firm has a 50 day simple moving average of $113.62 and a two-hundred day simple moving average of $106.23. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 0.86 and a beta of 1.01.

Kirby (NYSE:KEX - Get Free Report) last released its 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. The firm had revenue of $855.46 million during the quarter, compared to the consensus estimate of $851.94 million. Kirby had a return on equity of 10.07% and a net margin of 9.25%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 earnings per share. As a group, equities research analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current year.

Analyst Ratings Changes

Separately, Bank of America lifted their target price on Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, May 16th.

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.