Kirby Corporation Sees Unusually Large Options Volume (KEX)
Kirby Corporation (NYSE:KEX) was the target of unusually large options trading activity on Wednesday. Stock investors purchased 1,311 call options on the company. This is an increase of Infinity compared to the average daily volume of 0 call options.
A number of research analysts have weighed in on KEX shares. Stifel Nicolaus reiterated a “hold” rating and issued a $67.00 target price on shares of Kirby Corporation in a research note on Friday. Jefferies Group LLC reiterated a “buy” rating and issued a $85.00 target price on shares of Kirby Corporation in a research note on Monday, October 16th. BidaskClub cut shares of Kirby Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Cowen and Company reiterated a “hold” rating and issued a $70.00 target price on shares of Kirby Corporation in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $71.43.
Shares of Kirby Corporation (NYSE:KEX) opened at $67.15 on Friday. The company has a market cap of $3.60 billion, a P/E ratio of 31.61, a P/E/G ratio of 4.22 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.24 and a current ratio of 1.77.
Kirby Corporation (NYSE:KEX) last announced its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.08. The company had revenue of $541.30 million for the quarter, compared to analysts’ expectations of $517.54 million. Kirby Corporation had a net margin of 5.88% and a return on equity of 4.68%. Kirby Corporation’s revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. analysts forecast that Kirby Corporation will post 1.97 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of KEX. Huntington National Bank lifted its stake in Kirby Corporation by 11.3% in the 2nd quarter. Huntington National Bank now owns 2,453 shares of the shipping company’s stock worth $164,000 after purchasing an additional 249 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Kirby Corporation in the 2nd quarter worth approximately $204,000. Koch Industries Inc. purchased a new stake in Kirby Corporation in the 2nd quarter worth approximately $216,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in Kirby Corporation in the 2nd quarter worth approximately $233,000. Finally, World Asset Management Inc lifted its stake in Kirby Corporation by 12.7% in the 2nd quarter. World Asset Management Inc now owns 3,718 shares of the shipping company’s stock worth $249,000 after purchasing an additional 418 shares in the last quarter.
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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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