Bank of America Issues Pessimistic Forecast for Kirby (NYSE:KEX) Stock Price

Kirby (NYSE:KEX) had its target price dropped by equities research analysts at Bank of America from $133.00 to $123.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. Bank of America‘s price target suggests a potential upside of 23.17% from the company’s previous close.

A number of other brokerages have also recently weighed in on KEX. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Stifel Nicolaus cut their price target on Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.75.

Kirby Price Performance

KEX stock traded down $3.03 during midday trading on Friday, hitting $99.87. 179,651 shares of the stock were exchanged, compared to its average volume of 528,830. The stock’s 50-day moving average price is $104.37 and its 200-day moving average price is $113.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45. The stock has a market cap of $5.68 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 0.88 and a beta of 1.18. Kirby has a fifty-two week low of $93.63 and a fifty-two week high of $132.21.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. Research analysts predict that Kirby will post 6.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the transaction, the vice president now directly owns 5,545 shares in the company, valued at approximately $596,697.45. This represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of KEX. Empowered Funds LLC purchased a new stake in Kirby in the fourth quarter valued at approximately $25,000. Colonial Trust Co SC boosted its holdings in shares of Kirby by 295.3% in the 4th quarter. Colonial Trust Co SC now owns 253 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 189 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Kirby during the 3rd quarter valued at $42,000. LGT Financial Advisors LLC acquired a new stake in shares of Kirby during the 4th quarter worth $63,000. Finally, R Squared Ltd purchased a new position in shares of Kirby in the 4th quarter worth $76,000. 96.15% of the stock is currently owned by hedge funds and other 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.