Kirby (NYSE:KEX) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Kirby (NYSE:KEX) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Kirby Stock Up 1.0 %

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

Kirby (NYSE:KEX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The firm had revenue of $831.10 million during the quarter, compared to analyst estimates of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 EPS. On average, equities research analysts anticipate that Kirby will post 5.45 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Kirby

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted 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 acquiring an additional 168 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of Kirby in the 3rd quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Kirby in the 2nd quarter valued at about $37,000. Brooklyn Investment Group bought a new position in Kirby during the third quarter worth about $42,000. Finally, Capital Performance Advisors LLP acquired a new position in Kirby during the third quarter worth approximately $52,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

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.