Kirby Co. (NYSE:KEX) Sees Large Increase in Short Interest

Kirby Co. (NYSE:KEX - Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,590,000 shares, an increase of 37.1% from the April 30th total of 1,160,000 shares. Based on an average daily trading volume, of 574,200 shares, the short-interest ratio is currently 2.8 days. Currently, 2.9% of the company's stock are short sold.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Kirby

Large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new stake in Kirby in the 4th quarter valued at about $25,000. Colonial Trust Co SC boosted its stake in shares of Kirby by 295.3% during the 4th quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock worth $27,000 after purchasing an additional 189 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Kirby during the 1st quarter worth about $28,000. KBC Group NV acquired a new stake in shares of Kirby during the 1st quarter worth about $32,000. Finally, UMB Bank n.a. boosted its stake in shares of Kirby by 147.2% during the 1st quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock worth $35,000 after purchasing an additional 209 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Stock Up 1.5%

Shares of Kirby stock traded up $1.70 during trading hours on Tuesday, hitting $113.53. The company had a trading volume of 632,558 shares, compared to its average volume of 545,365. The company's 50-day moving average is $101.27 and its two-hundred day moving average is $106.37. Kirby has a twelve month low of $83.94 and a twelve month high of $132.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05. The company has a market cap of $6.37 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 0.88 and a beta of 0.91.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.06. The business had revenue of $785.66 million during the quarter, compared to the consensus estimate of $824.12 million. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The business's revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.19 EPS. Analysts anticipate that Kirby will post 6.57 earnings per share for the current fiscal year.

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.