BTIG Research Reiterates Buy Rating for Kirby (NYSE:KEX)

Key Points

• BTIG Research has reiterated a "buy" rating for Kirby (KEX), with a price target of $125.00, indicating a potential upside of 51.21% from the stock's previous close.
• Kirby's consensus rating is categorized as "Moderate Buy" with an average price target of $122.33, despite some analysts setting target prices below this level.
• In its most recent quarterly earnings, Kirby reported earnings per share of $1.67, surpassing estimates and showing a 3.8% increase in revenue compared to the previous year.

Kirby (NYSE:KEX - Get Free Report)'s stock had its "buy" rating restated by analysts at BTIG Research in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $125.00 target price on the shipping company's stock. BTIG Research's target price would suggest a potential upside of 48.84% from the stock's previous close.

A number of other equities research analysts have also weighed in on KEX. Zacks Research raised shares of Kirby from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Bank of America reduced their price objective 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 investment 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, Kirby currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.33.

Kirby Trading Down 0.1%

NYSE:KEX traded down $0.06 during trading hours on Thursday, reaching $83.98. 1,640,254 shares of the company were exchanged, compared to its average volume of 1,038,388. 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 firm has a market cap of $4.69 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 0.86 and a beta of 1.09. Kirby has a 52-week low of $82.55 and a 52-week high of $132.21. The stock has a 50 day simple moving average of $100.02 and a 200 day simple moving average of $103.14.

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

Hedge Funds Weigh In On Kirby

Several hedge funds have recently made changes to their positions in KEX. Focus Partners Wealth grew its stake in shares of Kirby by 35.3% in the 4th quarter. Focus Partners Wealth now owns 3,624 shares of the shipping company's stock worth $383,000 after purchasing an additional 945 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Kirby by 5.8% in the 4th quarter. Nuveen Asset Management LLC now owns 266,102 shares of the shipping company's stock valued at $28,154,000 after acquiring an additional 14,674 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Kirby by 6.4% in the 4th quarter. ProShare Advisors LLC now owns 2,685 shares of the shipping company's stock valued at $284,000 after acquiring an additional 161 shares in the last quarter. State of Wyoming lifted its position in shares of Kirby by 316.8% in the 4th quarter. State of Wyoming now owns 2,134 shares of the shipping company's stock valued at $226,000 after acquiring an additional 1,622 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Kirby by 5.8% in the 4th quarter. Tidal Investments LLC now owns 10,381 shares of the shipping company's stock valued at $1,098,000 after acquiring an additional 573 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

About Kirby

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.