Kirby (NYSE:KEX) Shares Gap Up to $101.05

Kirby Co. (NYSE:KEX - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $101.05, but opened at $104.15. Kirby shares last traded at $109.19, with a volume of 173,414 shares trading hands.

Analyst Ratings Changes

Several equities analysts have weighed in on KEX shares. StockNews.com upgraded shares of Kirby from a "hold" rating to a "buy" rating in a report on Tuesday, April 16th. Stifel Nicolaus boosted their target price on shares of Kirby from $100.00 to $118.00 and gave the company a "buy" rating in a report on Friday, April 19th. Stephens reiterated an "overweight" rating and issued a $105.00 target price on shares of Kirby in a report on Monday, February 5th. Wolfe Research assumed coverage on shares of Kirby in a report on Monday. They issued an "outperform" rating and a $126.00 target price on the stock. Finally, BTIG Research boosted their price target on shares of Kirby from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $116.00.

Kirby Stock Up 10.9 %

The business's 50 day moving average price is $92.72 and its 200-day moving average price is $83.56. The firm has a market capitalization of $6.56 billion, a PE ratio of 30.13, a P/E/G ratio of 1.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.01 and a current ratio of 1.68.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.01. The business had revenue of $799.18 million for the quarter, compared to the consensus estimate of $778.70 million. Kirby had a net margin of 7.21% and a return on equity of 7.12%. The business's revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. As a group, equities research analysts forecast that Kirby Co. will post 4.93 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Scott P. Miller sold 1,828 shares of the company's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $79.60, for a total transaction of $145,508.80. Following the sale, the vice president now directly owns 1,000 shares of the company's stock, valued at approximately $79,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO David W. Grzebinski sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $84.72, for a total transaction of $593,040.00. Following the sale, the chief executive officer now directly owns 84,399 shares of the company's stock, valued at approximately $7,150,283.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Scott P. Miller sold 1,828 shares of the company's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $79.60, for a total transaction of $145,508.80. Following the sale, the vice president now directly owns 1,000 shares in the company, valued at $79,600. The disclosure for this sale can be found here. Insiders have sold a total of 56,418 shares of company stock valued at $4,932,521 in the last ninety days. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Keene & Associates Inc. grew its holdings in Kirby by 6.4% during the 1st quarter. Keene & Associates Inc. now owns 5,908 shares of the shipping company's stock worth $563,000 after acquiring an additional 355 shares in the last quarter. Simplicity Wealth LLC acquired a new position in Kirby during the 1st quarter worth approximately $545,000. Assenagon Asset Management S.A. grew its holdings in Kirby by 1.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 94,957 shares of the shipping company's stock worth $9,051,000 after acquiring an additional 1,656 shares in the last quarter. Muhlenkamp & Co. Inc. grew its holdings in Kirby by 0.7% during the 1st quarter. Muhlenkamp & Co. Inc. now owns 169,314 shares of the shipping company's stock worth $16,139,000 after acquiring an additional 1,107 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Kirby by 2.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the shipping company's stock worth $1,620,000 after acquiring an additional 400 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.