Kirby Corporation (NYSE:KEX) Receives Average Rating of "Moderate Buy" from Analysts

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 received 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 recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $114.50.

A number of research analysts have weighed in on KEX shares. BTIG Research reaffirmed a "buy" rating and set a $125.00 target price on shares of Kirby in a report on Thursday. Zacks Research upgraded Kirby from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Citigroup assumed coverage on Kirby in a research note on Monday. They issued a "neutral" rating and a $91.00 target price on the stock. Finally, Bank of America dropped their price objective on Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Wednesday, September 3rd.

Hedge Funds Weigh In On Kirby

Institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Kirby by 244.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company's stock valued at $26,000 after acquiring an additional 164 shares during the period. Opal Wealth Advisors LLC acquired a new position in Kirby in the 1st quarter worth about $28,000. Maseco LLP acquired a new position in Kirby in the 2nd quarter worth about $28,000. IFP Advisors Inc purchased a new position in shares of Kirby in the second quarter valued at approximately $29,000. Finally, KBC Group NV acquired a new stake in shares of Kirby in the first quarter valued at approximately $32,000. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Trading Up 2.1%

NYSE:KEX traded up $1.80 on Monday, reaching $85.85. 982,904 shares of the stock traded hands, compared to its average volume of 1,093,688. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 0.86 and a beta of 1.09. Kirby has a 1-year low of $82.55 and a 1-year 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. The company's 50 day moving average is $99.39 and its 200-day moving average is $103.10.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results 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. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The business had revenue of $855.46 million during the quarter, compared to the consensus estimate of $851.94 million. During the same quarter last year, the firm posted $1.43 EPS. Kirby's revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Kirby will post 6.57 EPS for the current fiscal year.

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.