Insider Selling: Kirby (NYSE:KEX) VP Sells 2,715 Shares of Stock

Kirby Corporation (NYSE:KEX) VP Ronald Dragg sold 2,715 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $110.29, for a total transaction of $299,437.35. Following the sale, the vice president owned 10,325 shares in the company, valued at $1,138,744.25. This trade represents a 20.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Kirby Stock Down 2.6%

Shares of NYSE:KEX traded down $2.92 during midday trading on Thursday, reaching $107.61. 613,269 shares of the company were exchanged, compared to its average volume of 734,269. The firm has a market cap of $6.00 billion, a PE ratio of 19.96, a P/E/G ratio of 1.05 and a beta of 1.05. Kirby Corporation has a fifty-two week low of $79.51 and a fifty-two week high of $132.21. The stock has a fifty day simple moving average of $89.65 and a two-hundred day simple moving average of $101.50. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The firm had revenue of $871.16 million during the quarter, compared to analysts’ expectations of $843.29 million. Kirby had a return on equity of 10.06% and a net margin of 9.22%.The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 EPS. As a group, sell-side analysts forecast that Kirby Corporation will post 6.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KEX. BTIG Research reaffirmed a “buy” rating and set a $125.00 price target on shares of Kirby in a research report on Thursday, September 18th. Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Citigroup upgraded shares of Kirby from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $128.00 in a report on Wednesday, November 5th. Evercore ISI lifted their price target on shares of Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Finally, Zacks Research upgraded shares of Kirby from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 3rd. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.40.

Hedge Funds Weigh In On Kirby

A number of hedge funds and other institutional investors have recently bought and sold shares of KEX. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Kirby by 244.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company’s stock worth $26,000 after acquiring an additional 164 shares in the last quarter. Maseco LLP acquired a new position in Kirby during the second quarter worth about $28,000. IFP Advisors Inc bought a new position in shares of Kirby in the second quarter worth about $29,000. First Horizon Corp acquired a new stake in shares of Kirby in the 3rd quarter valued at approximately $30,000. Finally, Bell Investment Advisors Inc grew its holdings in shares of Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 96.15% of the company’s stock.

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.