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

StockNews.com downgraded shares of Kirby (NYSE:KEX) from a buy rating to a hold rating in a research note published on Thursday morning.

Kirby Stock Performance

Shares of KEX stock opened at $105.12 on Thursday. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 0.69 and a beta of 1.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. Kirby has a 52 week low of $74.88 and a 52 week high of $132.21. The company has a 50-day simple moving average of $117.70 and a 200 day simple moving average of $119.24.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.47 by $0.08. The company had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. On average, sell-side analysts predict that Kirby will post 5.45 earnings per share for the current year.

Insider Activity

In other Kirby news, VP Ronald A. Dragg sold 2,313 shares of Kirby stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value 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. The trade was a 23.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Ross Stewart sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 15,488 shares in the company, valued at approximately $1,985,716.48. The trade was a 34.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,354 shares of company stock valued at $3,275,455. 1.50% of the stock is owned by company insiders.

Institutional Trading of Kirby

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its stake in Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 168 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Kirby in the 3rd quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Kirby in the 2nd quarter valued at approximately $37,000. Brooklyn Investment Group bought a new stake in shares of Kirby during the 3rd quarter worth approximately $42,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Kirby during the 3rd quarter worth approximately $52,000. 96.15% of the stock is currently owned by institutional investors.

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.