Kirby (NYSE:KEX) Lowered to Hold Rating by StockNews.com

Kirby (NYSE:KEX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Kirby Trading Up 0.7 %

Shares of KEX opened at $106.37 on Wednesday. The stock’s 50-day moving average price is $122.47 and its 200 day moving average price is $120.51. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 20.42, a P/E/G ratio of 0.70 and a beta of 1.18. Kirby has a 12-month low of $74.88 and a 12-month high of $132.21.

Kirby (NYSE:KEX) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The business had revenue of $831.10 million for the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. Kirby’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. As a group, research analysts predict that Kirby will post 5.45 earnings per share for the current year.

Insider Activity

In other Kirby news, Director Richard Ross Stewart sold 8,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the completion of the transaction, the director now directly owns 15,488 shares in the company, valued at $1,985,716.48. This represents a 34.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Ronald A. Dragg sold 2,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total transaction of $294,444.90. Following the completion of the sale, the vice president now owns 7,683 shares in the company, valued at $978,045.90. This represents a 23.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,354 shares of company stock worth $3,275,455. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Kirby

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after buying an additional 168 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Kirby in the 2nd quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new position in shares of Kirby in the 3rd quarter worth approximately $30,000. Blue Trust Inc. grew its position in Kirby by 91.0% during the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after acquiring an additional 141 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in Kirby during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Company Profile

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.