Kirby (NYSE:KEX) Hits New 52-Week High - Still a Buy?

Key Points

• Kirby hit a new 52-week high, trading as high as $138.00 (last $138.1540) on Tuesday with intraday volume around 12,832 shares and a roughly 2.1% gain.
• Wall Street is largely bullish—six Buy ratings and one Hold—resulting in a MarketBeat consensus of Moderate Buy with a consensus price target of $132.60 and individual targets as high as $147.
• Fundamentals show a Q4 EPS beat ($1.68 vs. $1.62), revenue up 6.2% year‑over‑year but slightly under expectations; the company has a $7.51B market cap and P/E of 22.1, while insiders have sold material stakes even as major institutions substantially increased holdings (about 96.15% institutional ownership).

Kirby Corporation (NYSE:KEX - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $138.00 and last traded at $138.1540, with a volume of 12832 shares traded. The stock had previously closed at $137.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on KEX shares. Weiss Ratings raised Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 27th. Citigroup boosted their target price on Kirby from $145.00 to $147.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Wolfe Research reaffirmed an "outperform" rating and set a $136.00 target price on shares of Kirby in a research report on Friday, January 30th. Evercore reaffirmed an "outperform" rating and set a $138.00 target price on shares of Kirby in a research report on Monday, March 9th. 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. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.60.

Kirby Trading Up 2.1%

The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.22 and a beta of 0.83. The company has a 50-day moving average price of $128.16 and a 200 day moving average price of $112.98. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. The business had revenue of $851.78 million during the quarter, compared to analysts' expectations of $857.82 million. Kirby had a return on equity of 10.53% and a net margin of 10.54%.Kirby's revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 earnings per share. As a group, research analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Christian G. O'neil sold 11,287 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $132.34, for a total value of $1,493,721.58. Following the completion of the sale, the chief operating officer directly owned 11,287 shares of the company's stock, valued at $1,493,721.58. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Grzebinski sold 34,152 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the completion of the sale, the chief executive officer directly owned 98,241 shares of the company's stock, valued at $12,776,242.05. This trade represents a 25.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 71,495 shares of company stock valued at $9,226,173 over the last ninety days. Insiders own 0.80% of the company's stock.

Institutional Trading of Kirby

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its stake in shares of Kirby by 92.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company's stock worth $287,803,000 after acquiring an additional 1,251,700 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Kirby by 109.4% in the fourth quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company's stock worth $248,640,000 after acquiring an additional 1,178,963 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Kirby by 72.5% in the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company's stock worth $258,900,000 after acquiring an additional 959,209 shares during the last quarter. Norges Bank acquired a new position in shares of Kirby in the fourth quarter worth $81,355,000. Finally, Hood River Capital Management LLC acquired a new position in shares of Kirby in the second quarter worth $73,784,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Company Profile

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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