Kirby (NYSE:KEX) was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating in a report released on Wednesday, TheStreetRatingsTable reports.

Several other brokerages have also issued reports on KEX. ValuEngine upgraded Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday. Stephens upgraded Kirby from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $93.00 to $96.00 in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $81.13.

KEX traded up $0.91 on Wednesday, hitting $83.07. 263,886 shares of the stock traded hands, compared to its average volume of 346,140. Kirby has a 52 week low of $60.63 and a 52 week high of $86.44. The company has a current ratio of 2.00, a quick ratio of 1.19 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $4.83 billion, a PE ratio of 29.05, a P/E/G ratio of 2.56 and a beta of 1.03. The business has a fifty day moving average price of $74.67 and a two-hundred day moving average price of $77.40.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, July 25th. The shipping company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.02). Kirby had a net margin of 3.70% and a return on equity of 5.47%. The firm had revenue of $771.00 million for 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 company’s revenue was down 3.9% on a year-over-year basis. On average, equities research analysts forecast that Kirby will post 2.97 EPS for the current fiscal year.

In other news, VP Ronald A. Dragg sold 690 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $82.79, for a total value of $57,125.10. Following the sale, the vice president now directly owns 11,076 shares in the company, valued at approximately $916,982.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David W. Grzebinski sold 9,069 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $78.40, for a total value of $711,009.60. Following the completion of the sale, the chief executive officer now owns 75,983 shares in the company, valued at $5,957,067.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,433 shares of company stock worth $1,369,330. Corporate insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Carroll Financial Associates Inc. boosted its holdings in shares of Kirby by 27.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 626 shares of the shipping company’s stock worth $49,000 after acquiring an additional 134 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Kirby by 1.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,960 shares of the shipping company’s stock worth $787,000 after acquiring an additional 140 shares in the last quarter. Huntington National Bank lifted its holdings in Kirby by 10.1% during the 2nd quarter. Huntington National Bank now owns 1,663 shares of the shipping company’s stock worth $131,000 after buying an additional 152 shares in the last quarter. Advisory Services Network LLC lifted its holdings in Kirby by 103.1% during the 2nd quarter. Advisory Services Network LLC now owns 325 shares of the shipping company’s stock worth $26,000 after buying an additional 165 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Kirby by 32.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 823 shares of the shipping company’s stock worth $65,000 after buying an additional 201 shares in the last quarter. 94.98% of the stock is currently owned by institutional investors and hedge funds.

Kirby Company Profile

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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