Kirby Corporation (NYSE:KEX) Short Interest Down 16.8% in January

Kirby Corporation (NYSE:KEX) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 1,578,528 shares, a decline of 16.8% from the January 15th total of 1,897,258 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average daily volume of 1,050,227 shares, the days-to-cover ratio is currently 1.5 days. Based on an average daily volume of 1,050,227 shares, the days-to-cover ratio is currently 1.5 days. Approximately 2.9% of the company’s stock are sold short.

Kirby Stock Up 2.9%

Shares of KEX stock traded up $3.49 during mid-day trading on Monday, hitting $124.87. The stock had a trading volume of 832,065 shares, compared to its average volume of 777,952. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 1.08. The firm has a market capitalization of $6.77 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.12 and a beta of 0.88. The firm’s 50-day moving average is $119.02 and its two-hundred day moving average is $104.02. Kirby has a 12-month low of $79.51 and a 12-month high of $132.18.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. Kirby had a net margin of 10.54% and a return on equity of 10.55%. The business had revenue of $851.78 million during the quarter, compared to analysts’ expectations of $857.82 million. During the same quarter last year, the company posted $1.29 earnings per share. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Kirby will post 6.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Kirby

In other Kirby news, VP Amy D. Husted sold 10,413 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $107.42, for a total transaction of $1,118,564.46. Following the completion of the transaction, the vice president directly owned 11,760 shares in the company, valued at $1,263,259.20. The trade was a 46.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Grzebinski sold 29,451 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $107.41, for a total transaction of $3,163,331.91. Following the sale, the chief executive officer directly owned 79,709 shares in the company, valued at $8,561,543.69. The trade was a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 63,898 shares of company stock valued at $7,081,741 in the last 90 days. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Kirby

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Kirby by 2.4% during the third quarter. Vanguard Group Inc. now owns 5,667,853 shares of the shipping company’s stock worth $472,982,000 after purchasing an additional 134,261 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Kirby by 92.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company’s stock valued at $287,803,000 after purchasing an additional 1,251,700 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Kirby by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,484,508 shares of the shipping company’s stock valued at $273,745,000 after buying an additional 93,676 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Kirby by 72.5% in the 2nd quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock valued at $258,900,000 after purchasing an additional 959,209 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Kirby by 109.4% in the 4th quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company’s stock worth $248,640,000 after acquiring an additional 1,178,963 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Zacks Research downgraded shares of Kirby from a “hold” rating to a “strong sell” rating in a report on Thursday. Evercore raised their price target on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Citigroup increased their price objective on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Wolfe Research reissued an “outperform” rating and set a $136.00 price target on shares of Kirby in a research report on Friday, January 30th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.40.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.