Kirby (NYSE:KEX) Shares Down 8% - Here's What Happened

Key Points

• Kirby shares fell about 8% to roughly $133.73 during Wednesday trading, despite the company reporting quarterly EPS of $1.67, ahead of the $1.63 consensus estimate, and 7.8% year-over-year revenue growth.
• Analyst sentiment remains positive: six analysts rate Kirby a Buy and one rates it Hold, with a “Moderate Buy” consensus and an average price target of $162.20.
• Institutional investors own 96.15% of Kirby, while insiders sold 17,691 shares worth approximately $2.58 million during the last quarter.

Kirby Corporation (NYSE:KEX - Get Free Report)'s share price fell 8% during trading on Wednesday . The company traded as low as $132.63 and last traded at $133.7290. 526,904 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 700,713 shares. The stock had previously closed at $145.39.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KEX. BTIG Research reissued a "buy" rating and set a $170.00 target price on shares of Kirby in a research note on Wednesday. Weiss Ratings raised Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 17th. Bank of America lifted their price target on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Citigroup increased their price objective on Kirby from $160.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Finally, Wall Street Zen upgraded Kirby from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $162.20.

Kirby Trading Down 8.8%

The business's 50-day simple moving average is $141.47 and its 200-day simple moving average is $136.20. The company has a market cap of $7.10 billion, a PE ratio of 20.44, a P/E/G ratio of 1.27 and a beta of 0.83. The company has a current ratio of 1.59, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.63 by $0.04. Kirby had a net margin of 10.51% and a return on equity of 10.62%. During the same quarter in the previous year, the company posted $1.67 EPS. The business's quarterly revenue was up 7.8% on a year-over-year basis. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, analysts expect that Kirby Corporation will post 7.06 EPS for the current fiscal year.

Insider Transactions at Kirby

In other news, COO Christian G. O'neil sold 11,287 shares of Kirby stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.93, for a total transaction of $1,647,111.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Amy D. Husted sold 4,000 shares of the business's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.43, for a total value of $581,720.00. Following the completion of the sale, the vice president directly owned 10,814 shares of the company's stock, valued at approximately $1,572,680.02. The trade was a 27.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 17,691 shares of company stock valued at $2,579,036. 0.80% of the stock is currently owned by company insiders.

Institutional Trading of Kirby

A number of institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of Kirby by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,617,538 shares of the shipping company's stock worth $347,829,000 after purchasing an additional 133,030 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Kirby by 92.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company's stock valued at $287,803,000 after purchasing an additional 1,251,700 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in 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 purchasing an additional 959,209 shares in the last quarter. First Trust Advisors LP boosted its holdings in 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 purchasing an additional 1,178,963 shares in the last quarter. Finally, Select Equity Group L.P. increased its position in Kirby by 10.8% during the second quarter. Select Equity Group L.P. now owns 2,165,929 shares of the shipping company's stock worth $245,638,000 after buying an additional 211,231 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

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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