Kirby Corporation (KEX) Rating Increased to Sell at BidaskClub
Kirby Corporation (NYSE:KEX) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
KEX has been the subject of a number of other reports. Zacks Investment Research downgraded Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Stifel Nicolaus decreased their price target on Kirby Corporation from $71.00 to $69.00 and set a “hold” rating for the company in a research note on Thursday, June 15th. Cowen and Company reiterated a “hold” rating and issued a $70.00 price target on shares of Kirby Corporation in a research note on Friday, July 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $85.00 price target on shares of Kirby Corporation in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Kirby Corporation currently has an average rating of “Hold” and a consensus price target of $71.25.
Kirby Corporation (NYSE:KEX) opened at 62.20 on Friday. The firm has a 50-day moving average price of $62.74 and a 200 day moving average price of $67.11. The company has a market cap of $3.36 billion, a P/E ratio of 28.51 and a beta of 1.01. Kirby Corporation has a 12 month low of $50.80 and a 12 month high of $74.50.
Kirby Corporation (NYSE:KEX) last announced its earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. The company had revenue of $473.33 million during the quarter, compared to the consensus estimate of $478.85 million. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Equities research analysts predict that Kirby Corporation will post $1.95 EPS for the current year.
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A number of institutional investors have recently modified their holdings of KEX. Lord Abbett & CO. LLC boosted its position in shares of Kirby Corporation by 65.9% in the second quarter. Lord Abbett & CO. LLC now owns 788,653 shares of the shipping company’s stock worth $52,721,000 after buying an additional 313,184 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Kirby Corporation by 5.4% in the second quarter. Public Employees Retirement System of Ohio now owns 77,268 shares of the shipping company’s stock worth $5,165,000 after buying an additional 3,958 shares in the last quarter. Koch Industries Inc. acquired a new position in shares of Kirby Corporation during the second quarter worth about $216,000. Verition Fund Management LLC acquired a new position in shares of Kirby Corporation during the second quarter worth about $204,000. Finally, Westwood Holdings Group Inc. boosted its position in shares of Kirby Corporation by 43.3% in the second quarter. Westwood Holdings Group Inc. now owns 5,375 shares of the shipping company’s stock worth $359,000 after buying an additional 1,625 shares in the last quarter.
Kirby Corporation Company Profile
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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