Kirby (NYSE:KEX) Reaches New 1-Year Low - Time to Sell?

Key Points

• Kirby Corporation's stock hit a new 52-week low of $79.95 during trading, with a last price of $83.26.
• Analysts have mixed views on Kirby, with price targets ranging from $91.00 to $125.00 and an average rating of "Moderate Buy."
• Institutional investors hold a significant stake in Kirby, owning 96.15% of the company's stock, with several recent increases in their positions.

Kirby Corporation (NYSE:KEX - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $79.95 and last traded at $83.26, with a volume of 169 shares. The stock had previously closed at $83.42.

Analysts Set New Price Targets

Several analysts have recently commented on KEX shares. Bank of America decreased their price objective on shares of Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Wednesday, September 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of Kirby in a research report on Saturday, September 27th. Citigroup started coverage on Kirby in a research report on Monday, September 22nd. They set a "neutral" rating and a $91.00 target price for the company. BTIG Research reissued a "buy" rating and issued a $125.00 price target on shares of Kirby in a report on Thursday, September 18th. Finally, Zacks Research raised shares of Kirby from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $114.50.

Kirby Stock Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.12. The company has a market capitalization of $4.50 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.86 and a beta of 1.00. The business has a 50-day moving average of $92.94 and a 200-day moving average of $102.09.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.08. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The firm had revenue of $855.46 million during the quarter, compared to analysts' expectations of $851.94 million. During the same period in the previous year, the company earned $1.43 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. boosted its position in 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 buying an additional 164 shares during the period. Maseco LLP purchased a new stake in shares of Kirby in the second quarter valued at approximately $28,000. IFP Advisors Inc bought a new position in Kirby in the second quarter worth approximately $29,000. Opal Wealth Advisors LLC bought a new position in shares of Kirby during the 1st quarter worth $28,000. Finally, Bell Investment Advisors Inc increased its position in Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company's stock valued at $32,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 96.15% of the company's stock.

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.

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