Karp Capital Management Corp Purchases New Position in Kirby Corporation (KEX)
Karp Capital Management Corp acquired a new position in Kirby Corporation (NYSE:KEX) during the first quarter, Holdings Channel reports. The firm acquired 10,164 shares of the shipping company’s stock, valued at approximately $717,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new position in shares of Kirby Corporation during the fourth quarter worth $9,406,000. Thrivent Financial for Lutherans raised its position in shares of Kirby Corporation by 18.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 347,890 shares of the shipping company’s stock worth $23,135,000 after buying an additional 54,060 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Kirby Corporation by 33.6% in the first quarter. Bank of New York Mellon Corp now owns 1,275,763 shares of the shipping company’s stock worth $90,006,000 after buying an additional 320,566 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Kirby Corporation by 1,434.7% in the fourth quarter. Teachers Advisors LLC now owns 796,749 shares of the shipping company’s stock worth $52,984,000 after buying an additional 744,834 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in shares of Kirby Corporation by 2.6% in the first quarter. Capstone Asset Management Co. now owns 5,899 shares of the shipping company’s stock worth $416,000 after buying an additional 150 shares in the last quarter.
Shares of Kirby Corporation (KEX) opened at 64.35 on Friday. The stock has a market capitalization of $3.48 billion, a P/E ratio of 26.54 and a beta of 0.94. The stock has a 50 day moving average price of $67.91 and a 200 day moving average price of $68.17. Kirby Corporation has a 12 month low of $50.80 and a 12 month high of $74.50.
Kirby Corporation (NYSE:KEX) last issued its quarterly earnings results on Wednesday, April 26th. The shipping company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.01. Kirby Corporation had a net margin of 7.25% and a return on equity of 5.46%. The firm had revenue of $491.70 million for the quarter, compared to analyst estimates of $423.91 million. During the same quarter last year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts anticipate that Kirby Corporation will post $2.05 EPS for the current fiscal year.
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A number of research firms have commented on KEX. Stifel Nicolaus decreased their target price on Kirby Corporation from $71.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday. BidaskClub upgraded Kirby Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Zacks Investment Research upgraded Kirby Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, March 28th. Jefferies Group LLC reiterated a “buy” rating and set a $85.00 target price on shares of Kirby Corporation in a research report on Tuesday, May 30th. Finally, Credit Suisse Group upgraded Kirby Corporation from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $58.00 to $80.00 in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Kirby Corporation has an average rating of “Hold” and a consensus price target of $66.00.
About Kirby Corporation
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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