Kirby (NYSE:KEX) Shares Gap Down - Should You Sell?

Key Points

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Kirby Corporation (NYSE:KEX - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $120.00, but opened at $112.00. Kirby shares last traded at $96.89, with a volume of 743,509 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised their price objective on shares of Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a report on Friday, May 16th.

Kirby Trading Down 21.4%

The business's fifty day moving average is $114.10 and its 200-day moving average is $106.39. The firm has a market cap of $5.29 billion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.96 and a current ratio of 1.58.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data 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. Kirby had a net margin of 9.02% and a return on equity of 9.81%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.43 earnings per share. Analysts predict that Kirby Corporation will post 6.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. AlphaQuest LLC raised its holdings in Kirby by 113.7% during the 2nd quarter. AlphaQuest LLC now owns 16,613 shares of the shipping company's stock worth $1,884,000 after purchasing an additional 8,840 shares during the last quarter. Ethic Inc. raised its holdings in Kirby by 3.1% during the 2nd quarter. Ethic Inc. now owns 3,236 shares of the shipping company's stock worth $372,000 after purchasing an additional 98 shares during the last quarter. Stephens Inc. AR raised its holdings in Kirby by 4.5% during the 2nd quarter. Stephens Inc. AR now owns 12,063 shares of the shipping company's stock worth $1,368,000 after purchasing an additional 514 shares during the last quarter. Swmg LLC bought a new position in Kirby during the 2nd quarter worth approximately $325,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Kirby during the 2nd quarter worth approximately $612,000. 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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