Kirby (NYSE:KEX) Price Target Raised to $160.00

Key Points

• BTIG raised its price target on Kirby from $135 to $160 and maintained a "buy" rating, implying about a 12.2% upside; Citigroup also raised its target to $160 and the consensus across analysts is a "Moderate Buy" with an average target of $140.20.
• Kirby shares are trading around $142.59 near their 12‑month high, with a $7.65 billion market cap and a PE of 22.53; the company beat quarterly EPS estimates ($1.68 vs. $1.62) while revenue slightly missed but was up 6.2% year‑over‑year.
• Insiders have been selling: CEO David Grzebinski sold 34,152 shares (a 25.8% reduction) and insiders sold 71,495 shares in the quarter (~$9.23M), leaving insiders with 0.80% ownership while institutional investors hold 96.15%.

Kirby (NYSE:KEX - Get Free Report) had its price objective boosted by investment analysts at BTIG Research from $135.00 to $160.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the shipping company's stock. BTIG Research's price target points to a potential upside of 12.21% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a research report on Friday, March 13th. Citigroup boosted their price objective on shares of Kirby from $147.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Weiss Ratings upgraded shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 27th. Wolfe Research restated an "outperform" rating and set a $136.00 price objective on shares of Kirby in a research report on Friday, January 30th. Finally, Evercore restated an "outperform" rating and set a $138.00 price objective on shares of Kirby in a research report on Monday, March 9th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $140.20.

Kirby Trading Up 0.5%

Shares of NYSE:KEX opened at $142.59 on Wednesday. Kirby has a 12-month low of $79.51 and a 12-month high of $143.29. The stock has a market cap of $7.65 billion, a PE ratio of 22.53, a P/E/G ratio of 1.36 and a beta of 0.83. The business has a 50 day moving average of $130.37 and a 200-day moving average of $115.36. 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 quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.06. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The company had revenue of $851.78 million during the quarter, compared to analysts' expectations of $857.82 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. The business's revenue was up 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Kirby will post 6.57 earnings per share for the current year.

Insider Activity

In other Kirby news, CEO David W. Grzebinski sold 34,152 shares of the business's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the sale, the chief executive officer owned 98,241 shares of the company's stock, valued at approximately $12,776,242.05. The trade was a 25.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Scott P. Miller sold 3,960 shares of the business's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total transaction of $477,892.80. Following the sale, the vice president directly owned 3,565 shares in the company, valued at approximately $430,224.20. The trade was a 52.62% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 71,495 shares of company stock valued at $9,226,173. 0.80% of the stock is currently owned by insiders.

Institutional Trading of Kirby

Several institutional investors have recently modified their holdings of KEX. Maseco LLP bought a new stake in shares of Kirby in the fourth quarter worth $27,000. First Horizon Corp bought a new stake in shares of Kirby in the third quarter worth $30,000. Rothschild Investment LLC grew its stake in shares of Kirby by 2,600.0% in the fourth 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 last quarter. Smartleaf Asset Management LLC grew its stake in shares of Kirby by 537.5% in the fourth 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 last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Kirby by 50.0% in the fourth 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 last quarter. Institutional investors own 96.15% of the company's stock.

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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