Kirby Corp. (KEX) Stock Rating Upgraded by RBC Capital Markets
Kirby Corp. (NYSE:KEX) was upgraded by stock analysts at RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a report released on Tuesday. The firm currently has a $68.00 price target on the stock, up from their previous price target of $55.00. RBC Capital Markets’ price target suggests a potential upside of 14.42% from the company’s current price.
KEX has been the subject of a number of other reports. Vetr downgraded Kirby Corp. from a “hold” rating to a “sell” rating and set a $67.34 target price for the company. in a research report on Thursday, May 26th. Jefferies Group reaffirmed a “buy” rating on shares of Kirby Corp. in a report on Monday, September 12th. Zacks Investment Research lowered Kirby Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 7th. Finally, Wells Fargo & Co. lowered Kirby Corp. from a “market perform” rating to an “underperform” rating and set a $46.00 price target for the company. in a report on Monday, July 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $63.69.
Kirby Corp. (NYSE:KEX) opened at 59.43 on Tuesday. Kirby Corp. has a 12-month low of $44.63 and a 12-month high of $73.25. The firm has a market cap of $3.20 billion, a PE ratio of 17.43 and a beta of 1.11. The stock’s 50 day moving average price is $54.79 and its 200-day moving average price is $61.36.
Kirby Corp. (NYSE:KEX) last released its earnings results on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.02. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. The business earned $441.60 million during the quarter, compared to the consensus estimate of $454.12 million. During the same period last year, the business posted $1.04 earnings per share. The business’s revenue for the quarter was down 18.7% on a year-over-year basis. Equities research analysts anticipate that Kirby Corp. will post $2.61 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of KEX. Nomura Asset Management Co. Ltd. raised its stake in shares of Kirby Corp. by 19.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 24,851 shares of the company’s stock valued at $1,308,000 after buying an additional 4,019 shares during the period. Glenmede Trust Co. NA raised its stake in shares of Kirby Corp. by 30.0% in the first quarter. Glenmede Trust Co. NA now owns 12,805 shares of the company’s stock valued at $771,000 after buying an additional 2,955 shares during the period. Aperio Group LLC raised its stake in shares of Kirby Corp. by 28.0% in the first quarter. Aperio Group LLC now owns 11,761 shares of the company’s stock valued at $709,000 after buying an additional 2,575 shares during the period. Pacad Investment Ltd. raised its stake in shares of Kirby Corp. by 20.2% in the first quarter. Pacad Investment Ltd. now owns 17,555 shares of the company’s stock valued at $1,058,000 after buying an additional 2,955 shares during the period. Finally, Ngam Advisors L.P. raised its stake in shares of Kirby Corp. by 21.4% in the first quarter. Ngam Advisors L.P. now owns 132,296 shares of the company’s stock valued at $7,975,000 after buying an additional 23,360 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.
About Kirby Corp.
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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