Kirby (NYSE:KEX) Downgraded to “C+” at TheStreet

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TheStreet lowered shares of Kirby (NYSE:KEX) from a b rating to a c+ rating in a research note released on Thursday morning, TheStreetRatingsTable reports.

Other analysts have also issued reports about the stock. Stephens upgraded shares of Kirby from an equal weight rating to an overweight rating and boosted their target price for the company from $93.00 to $96.00 in a research report on Monday, July 29th. Zacks Investment Research lowered shares of Kirby from a buy rating to a hold rating in a research report on Tuesday, May 7th. Bank of America upgraded shares of Kirby from an underperform rating to a buy rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Co boosted their target price on shares of Kirby from $74.00 to $80.00 and gave the company a market perform rating in a research report on Wednesday, April 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $81.13.

Shares of KEX stock opened at $73.17 on Thursday. The company has a 50 day moving average price of $75.88 and a 200-day moving average price of $77.60. Kirby has a 52 week low of $60.63 and a 52 week high of $88.78. The firm has a market capitalization of $4.23 billion, a PE ratio of 25.58, a P/E/G ratio of 2.24 and a beta of 1.02. The company has a quick ratio of 1.19, a current ratio of 2.00 and a debt-to-equity ratio of 0.52.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, July 25th. The shipping company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). Kirby had a return on equity of 5.47% and a net margin of 3.70%. The company had revenue of $771.00 million during the quarter, compared to the consensus estimate of $767.04 million. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. Analysts anticipate that Kirby will post 2.97 earnings per share for the current year.

In related news, Director William M. Waterman sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $82.35, for a total transaction of $1,647,000.00. Following the completion of the sale, the director now directly owns 91,260 shares in the company, valued at $7,515,261. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dorman Lynn Strahan sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $78.72, for a total transaction of $118,080.00. Following the sale, the insider now owns 20,421 shares of the company’s stock, valued at $1,607,541.12. The disclosure for this sale can be found here. Insiders own 1.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Carroll Financial Associates Inc. lifted its holdings in Kirby by 27.2% during the second quarter. Carroll Financial Associates Inc. now owns 626 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 134 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its holdings in Kirby by 1.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,960 shares of the shipping company’s stock valued at $787,000 after purchasing an additional 140 shares in the last quarter. Huntington National Bank lifted its holdings in Kirby by 10.1% during the second quarter. Huntington National Bank now owns 1,663 shares of the shipping company’s stock valued at $131,000 after purchasing an additional 152 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Kirby by 103.1% during the second quarter. Advisory Services Network LLC now owns 325 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 165 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Kirby by 32.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 823 shares of the shipping company’s stock valued at $65,000 after purchasing an additional 201 shares in the last quarter. Institutional investors own 95.01% of the company’s stock.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges 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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