Kirby Corporation (NYSE:KEX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Kirby Corporation (NYSE:KEX) has been given a consensus rating of "Moderate Buy" by five analysts, with an average 1-year price target of $122.33.
• Recent earnings exceeded expectations, with Kirby reporting an EPS of $1.67 for the latest quarter, surpassing the consensus estimate of $1.59.
• Hedge funds are increasing their stakes in Kirby, with significant purchases from firms like AllianceBernstein, Select Equity Group, and Jennison Associates, highlighting strong institutional interest in the company.

Kirby Corporation (NYSE:KEX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the five analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $122.3333.

Several analysts have issued reports on KEX shares. Zacks Research raised Kirby from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. BTIG Research reaffirmed a "buy" rating and issued a $125.00 price objective on shares of Kirby in a research note on Thursday. Citigroup assumed coverage on shares of Kirby in a research report on Monday. They set a "neutral" rating for the company. Finally, Bank of America cut their price target on shares of Kirby from $110.00 to $107.00 and set a "buy" rating for the company in a research report on Wednesday, September 3rd.

Kirby Price Performance

Shares of NYSE:KEX opened at $83.98 on Monday. The company has a 50 day moving average of $100.02 and a 200 day moving average of $103.18. The stock has a market cap of $4.69 billion, a P/E ratio of 15.88, a P/E/G ratio of 0.86 and a beta of 1.09. Kirby has a 12 month low of $82.55 and a 12 month high of $132.21. 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 (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The company had revenue of $855.46 million during the quarter, compared to analyst estimates of $851.94 million. During the same quarter in the previous year, the firm earned $1.43 earnings per share. Kirby's revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Kirby will post 6.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Kirby

Several large investors have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its holdings in shares of Kirby by 72.5% during the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company's stock valued at $258,900,000 after purchasing an additional 959,209 shares during the last quarter. Select Equity Group L.P. raised its stake in Kirby by 10.8% during the second quarter. Select Equity Group L.P. now owns 2,165,929 shares of the shipping company's stock valued at $245,638,000 after buying an additional 211,231 shares during the last quarter. Jennison Associates LLC raised its stake in Kirby by 9.0% during the first quarter. Jennison Associates LLC now owns 1,300,103 shares of the shipping company's stock valued at $131,323,000 after buying an additional 107,240 shares during the last quarter. Encompass Capital Advisors LLC raised its stake in Kirby by 32.4% during the second quarter. Encompass Capital Advisors LLC now owns 1,225,338 shares of the shipping company's stock valued at $138,966,000 after buying an additional 299,981 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Kirby by 0.8% in the 2nd quarter. Bank of America Corp DE now owns 802,865 shares of the shipping company's stock worth $91,053,000 after purchasing an additional 6,474 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

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.

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