Kirby (NYSE:KEX) Given New $135.00 Price Target at Stifel Nicolaus

Kirby (NYSE:KEX) had its price target trimmed by Stifel Nicolaus from $136.00 to $135.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the shipping company’s stock.

Separately, StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.40.

Kirby Stock Performance

KEX stock opened at $109.13 on Friday. The stock has a market capitalization of $6.26 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 0.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The company has a 50 day moving average price of $111.96 and a 200 day moving average price of $117.84. Kirby has a fifty-two week low of $78.63 and a fifty-two week high of $132.21.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a net margin of 9.37% and a return on equity of 9.43%. Analysts forecast that Kirby will post 5.45 EPS for the current year.

Insider Buying and Selling

In other news, VP Ronald A. Dragg sold 2,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $127.30, for a total value of $294,444.90. Following the sale, the vice president now directly owns 7,683 shares in the company, valued at $978,045.90. The trade was a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard Ross Stewart sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total value of $1,025,680.00. Following the completion of the sale, the director now owns 15,488 shares in the company, valued at $1,985,716.48. The trade was a 34.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,354 shares of company stock valued at $3,275,455. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kirby

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its holdings in shares of Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 168 shares in the last quarter. Empowered Funds LLC bought a new position in Kirby in the fourth quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new position in shares of Kirby during the 3rd quarter worth approximately $30,000. Brooklyn Investment Group bought a new stake in shares of Kirby during the 3rd quarter worth approximately $42,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Kirby in the third quarter valued at $52,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

About Kirby

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.