Kirby (NYSE:KEX) Reaches New 1-Year High – Time to Buy?

Kirby Corporation (NYSE:KEX)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $135.11 and last traded at $135.0750, with a volume of 120772 shares traded. The stock had previously closed at $130.76.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KEX shares. Citigroup lifted their target price on shares of Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a report on Friday, January 30th. Weiss Ratings downgraded shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Zacks Research upgraded shares of Kirby from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Evercore reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of Kirby in a report on Monday, March 9th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $136.00 price objective on shares of Kirby in a research report on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.60.

Kirby Stock Down 0.4%

The business has a 50-day moving average price of $126.98 and a 200-day moving average price of $110.03. The stock has a market cap of $7.28 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.83. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million during the quarter, compared to analyst estimates of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 EPS. As a group, analysts forecast that Kirby Corporation will post 6.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Amy D. Husted sold 11,667 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $129.33, for a total value of $1,508,893.11. Following the transaction, the vice president directly owned 14,814 shares of the company’s stock, valued at approximately $1,915,894.62. This trade represents a 44.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David W. Grzebinski sold 34,152 shares of Kirby stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $130.05, for a total value of $4,441,467.60. Following the completion of the sale, the chief executive officer owned 98,241 shares in the company, valued at approximately $12,776,242.05. The trade was a 25.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 71,495 shares of company stock valued at $9,226,173. 0.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kirby

Large investors have recently bought and sold shares of the company. Maseco LLP purchased a new position in shares of Kirby in the fourth quarter valued at approximately $27,000. First Horizon Corp purchased a new stake in shares of Kirby during the third quarter worth approximately $30,000. Rothschild Investment LLC raised its stake in Kirby by 2,600.0% in the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 260 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Kirby by 537.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 258 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Kirby by 50.0% in the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 134 shares in the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

About Kirby

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.