Kirby Co. (NYSE:KEX) Short Interest Up 9.7% in March

Kirby Co. (NYSE:KEXGet Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,130,000 shares, an increase of 9.7% from the February 29th total of 1,030,000 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 375,900 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a report on Monday, March 25th. Stephens reiterated an “overweight” rating and issued a $105.00 target price on shares of Kirby in a research note on Monday, February 5th.

Get Our Latest Stock Analysis on Kirby

Insider Transactions at Kirby

In related news, insider Christian G. O’neil sold 8,994 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $85.15, for a total transaction of $765,839.10. Following the transaction, the insider now directly owns 16,079 shares in the company, valued at $1,369,126.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Christian G. O’neil sold 8,994 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $85.15, for a total transaction of $765,839.10. Following the completion of the sale, the insider now directly owns 16,079 shares in the company, valued at approximately $1,369,126.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Scott P. Miller sold 6,705 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $95.05, for a total value of $637,310.25. Following the completion of the transaction, the vice president now directly owns 1,000 shares in the company, valued at $95,050. The disclosure for this sale can be found here. Insiders sold a total of 55,931 shares of company stock worth $4,883,929 over the last ninety days. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kirby

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Kirby by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 6,097,723 shares of the shipping company’s stock worth $478,549,000 after purchasing an additional 81,808 shares during the period. BlackRock Inc. raised its stake in Kirby by 0.3% during the first quarter. BlackRock Inc. now owns 5,313,776 shares of the shipping company’s stock worth $370,370,000 after acquiring an additional 14,447 shares during the period. Morgan Stanley boosted its stake in Kirby by 923.2% in the fourth quarter. Morgan Stanley now owns 4,248,727 shares of the shipping company’s stock valued at $273,406,000 after acquiring an additional 3,833,471 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Kirby by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,624,271 shares of the shipping company’s stock worth $205,954,000 after purchasing an additional 62,378 shares during the period. Finally, FMR LLC lifted its holdings in shares of Kirby by 30.9% in the 3rd quarter. FMR LLC now owns 2,100,068 shares of the shipping company’s stock worth $173,886,000 after purchasing an additional 495,541 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

Kirby Price Performance

Shares of KEX stock opened at $94.55 on Wednesday. The firm has a market cap of $5.53 billion, a P/E ratio of 25.42, a P/E/G ratio of 1.60 and a beta of 1.21. The firm has a fifty day moving average of $87.13 and a two-hundred day moving average of $81.64. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.68 and a quick ratio of 1.01. Kirby has a 1-year low of $66.42 and a 1-year high of $95.79.

Kirby (NYSE:KEXGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The shipping company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. Kirby had a return on equity of 7.12% and a net margin of 7.21%. The business had revenue of $799.18 million during the quarter, compared to the consensus estimate of $778.70 million. During the same period last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, research analysts anticipate that Kirby will post 4.94 earnings per share for the current fiscal year.

About Kirby

(Get Free Report)

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.

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