Kirby Corporation (NYSE:KEX) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts have given Kirby an average recommendation of "Moderate Buy" (6 buys, 1 hold) with a one-year consensus price target of $135.20, and notable upgrades including Citigroup raising its target to $160.00.
• Kirby beat quarterly EPS estimates ($1.68 vs. $1.62) and reported revenue up 6.2% year-over-year, with shares trading around $141.62 near a 52-week high and a market cap of about $7.59 billion.
• Insiders have sold heavily recently—71,495 shares worth roughly $9.23 million in the past three months—while institutional investors own about 96.15% of the stock and insiders hold 0.80%.

Kirby Corporation (NYSE:KEX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the seven analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $135.20.

A number of equities research analysts have commented on KEX shares. Evercore reissued an "outperform" rating and issued a $138.00 price objective on shares of Kirby in a research report on Monday, March 9th. Zacks Research raised shares of Kirby from a "strong sell" rating to a "hold" rating in a research report on Friday, March 13th. Citigroup increased their target price on shares of Kirby from $147.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday. Weiss Ratings raised shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 27th. Finally, BTIG Research dropped their target price on shares of Kirby from $140.00 to $135.00 and set a "buy" rating on the stock in a research report on Thursday, January 29th.

Kirby Trading Up 0.7%

Shares of NYSE:KEX opened at $141.62 on Friday. Kirby has a 52 week low of $79.51 and a 52 week high of $143.29. The company's 50 day moving average is $129.03 and its two-hundred day moving average is $113.76. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.59 billion, a PE ratio of 22.37, a P/E/G ratio of 1.26 and a beta of 0.83.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.06. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The company had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. During the same period in the prior year, the firm posted $1.29 EPS. The company's quarterly revenue was up 6.2% compared to the same quarter last year. Equities analysts predict that Kirby will post 6.57 earnings per share for the current fiscal year.

Insider Transactions at Kirby

In related news, VP Ronald A. Dragg sold 5,429 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $122.00, for a total value of $662,338.00. Following the transaction, the vice president directly owned 10,399 shares of the company's stock, valued at $1,268,678. This trade represents a 34.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Amy D. Husted sold 11,667 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $129.33, for a total transaction of $1,508,893.11. Following the completion of the transaction, the vice president directly owned 14,814 shares in the company, valued at $1,915,894.62. This trade represents a 44.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 71,495 shares of company stock worth $9,226,173. Insiders own 0.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Maseco LLP purchased a new position in shares of Kirby in the 4th quarter valued at $27,000. Rothschild Investment LLC boosted its stake in Kirby by 2,600.0% during the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company's stock worth $30,000 after purchasing an additional 260 shares during the period. Smartleaf Asset Management LLC boosted its stake in Kirby by 537.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company's stock worth $34,000 after purchasing an additional 258 shares during the period. First Horizon Corp acquired a new stake in Kirby during the 3rd quarter worth $30,000. Finally, Parallel Advisors LLC boosted its stake in Kirby by 50.0% during the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company's stock worth $44,000 after purchasing an additional 134 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.

About Kirby

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America's largest fleets of inland tank barges and towing vessels. Kirby's fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby's Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.

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