Kirby (NYSE:KEX) Reaches New 52-Week Low - Here's What Happened

Key Points

• Kirby Corporation's shares hit a new 52-week low at $81.90, closing at $82.56 with a trading volume of 47,628 shares.
• Analysts currently have a consensus rating of "Moderate Buy" on Kirby, with a target price average of $114.50.
• In the most recent quarter, Kirby reported an EPS of $1.67, exceeding estimates, with revenues amounting to $855.46 million, a 3.8% increase year-over-year.

Shares of Kirby Corporation (NYSE:KEX - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $81.90 and last traded at $82.56, with a volume of 47628 shares trading hands. The stock had previously closed at $83.43.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Citigroup assumed coverage on shares of Kirby in a research note on Monday. They set a "neutral" rating and a $91.00 price target on the stock. BTIG Research restated a "buy" rating and set a $125.00 price target on shares of Kirby in a research note on Thursday, September 18th. Finally, Bank of America lowered their target price on shares of Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Kirby has an average rating of "Moderate Buy" and a consensus target price of $114.50.

Kirby Stock Performance

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 fifty day moving average is $98.21 and its 200 day moving average is $102.85. The company has a market cap of $4.62 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 0.88 and a beta of 1.09.

Kirby (NYSE:KEX - Get Free Report) last released its earnings results on Thursday, July 31st. The shipping company reported $1.67 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 company had revenue of $855.46 million for the quarter, compared to analyst estimates of $851.94 million. During the same quarter last year, the firm earned $1.43 EPS. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Kirby

Large investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Kirby by 244.8% during 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 in the last quarter. Maseco LLP bought a new stake in Kirby during the second quarter worth about $28,000. IFP Advisors Inc bought a new stake in Kirby during the second quarter worth about $29,000. Opal Wealth Advisors LLC bought a new stake in Kirby during the first quarter worth about $28,000. Finally, Bell Investment Advisors Inc boosted its stake in Kirby by 67.1% during the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company's stock worth $32,000 after acquiring an additional 114 shares in the last quarter. 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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