Kirby (NYSE:KEX) Reaches New 12-Month Low - Should You Sell?

Key Points

• Kirby Corporation's stock recently reached a new 12-month low, trading as low as $83.93, which reflects a significant decline in share value.
• Analyst ratings have shifted, with Bank of America lowering its price target from $110 to $107 while Zacks upgraded their rating from "strong sell" to "hold," indicating mixed investor sentiment.
• Despite the stock's decline, Kirby reported an earnings per share of $1.67 for the last quarter, exceeding analysts' estimates and showing a year-over-year revenue increase of 3.8%.

Kirby Corporation (NYSE:KEX - Get Free Report)'s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $83.93 and last traded at $84.43, with a volume of 33555 shares trading hands. The stock had previously closed at $84.46.

Analyst Ratings Changes

A number of equities analysts have recently commented on KEX shares. Bank of America dropped their price target 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. Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Kirby has an average rating of "Moderate Buy" and an average target price of $121.00.

Kirby Price Performance

The company's 50 day moving average price is $102.67 and its 200 day moving average price is $103.61. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 0.88 and a beta of 1.09.

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

Hedge Funds Weigh In On Kirby

Several institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. grew its position 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 purchasing an additional 164 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Kirby during the 1st quarter worth approximately $28,000. Maseco LLP bought a new stake in shares of Kirby during the 2nd quarter worth approximately $28,000. IFP Advisors Inc bought a new stake in Kirby in the 2nd quarter valued at $29,000. Finally, KBC Group NV bought a new stake in Kirby in the 1st quarter valued at $32,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

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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