Kirby Corporation (KEX) Given “Buy” Rating at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of Kirby Corporation (NYSE:KEX) in a research note published on Monday morning. The brokerage currently has a $85.00 target price on the shipping company’s stock.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Kirby Corporation from a strong-buy rating to a hold rating in a research report on Tuesday, August 1st. Cowen and Company reiterated a hold rating and issued a $70.00 price objective on shares of Kirby Corporation in a report on Friday, July 28th. Stifel Nicolaus reiterated a hold rating and issued a $69.00 price objective on shares of Kirby Corporation in a report on Friday, July 28th. Finally, BidaskClub cut Kirby Corporation from a hold rating to a sell rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $71.71.
Kirby Corporation (NYSE:KEX) traded down 0.23% during trading on Monday, hitting $65.10. The stock had a trading volume of 72,417 shares. Kirby Corporation has a 52-week low of $55.11 and a 52-week high of $74.50. The firm’s 50-day moving average price is $64.34 and its 200-day moving average price is $65.79. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 29.84 and a beta of 1.01.
Kirby Corporation (NYSE:KEX) last posted its earnings results on Wednesday, July 26th. The shipping company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. The firm had revenue of $473.33 million for the quarter, compared to analysts’ expectations of $478.85 million. During the same period last year, the firm earned $0.72 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts predict that Kirby Corporation will post $1.96 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of KEX. UBS Asset Management Americas Inc. boosted its holdings in Kirby Corporation by 16.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 30,690 shares of the shipping company’s stock worth $2,165,000 after buying an additional 4,303 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Kirby Corporation by 1.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,701 shares of the shipping company’s stock worth $330,000 after purchasing an additional 67 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Kirby Corporation by 188.6% during the 1st quarter. JPMorgan Chase & Co. now owns 211,410 shares of the shipping company’s stock worth $14,915,000 after purchasing an additional 138,161 shares during the last quarter. Prudential Financial Inc. boosted its holdings in shares of Kirby Corporation by 6.7% during the 1st quarter. Prudential Financial Inc. now owns 33,300 shares of the shipping company’s stock worth $2,349,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Credit Agricole S A acquired a new position in shares of Kirby Corporation during the 1st quarter worth approximately $423,000.
Kirby Corporation Company Profile
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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