Stifel Nicolaus Reaffirms Hold Rating for Kirby Corporation (KEX)
Stifel Nicolaus restated their hold rating on shares of Kirby Corporation (NYSE:KEX) in a research note issued to investors on Friday. Stifel Nicolaus currently has a $67.00 target price on the shipping company’s stock.
Several other research firms have also commented on KEX. BidaskClub lowered Kirby Corporation from a sell rating to a strong sell rating in a report on Tuesday, August 1st. Zacks Investment Research lowered Kirby Corporation from a hold rating to a sell rating in a report on Thursday, July 6th. Cowen and Company reaffirmed a hold rating and set a $70.00 target price on shares of Kirby Corporation in a report on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $85.00 target price on shares of Kirby Corporation in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Kirby Corporation presently has an average rating of Hold and a consensus price target of $71.43.
Shares of Kirby Corporation (NYSE:KEX) opened at $67.15 on Friday. The firm has a market capitalization of $3,626.44, a P/E ratio of 31.83, a PEG ratio of 4.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.24.
Kirby Corporation (NYSE:KEX) last posted its earnings results on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.44 by $0.08. The firm had revenue of $541.30 million for the quarter, compared to analyst estimates of $517.54 million. Kirby Corporation had a return on equity of 4.68% and a net margin of 5.88%. Kirby Corporation’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. research analysts predict that Kirby Corporation will post 2 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently modified their holdings of KEX. Huntington National Bank grew its holdings in Kirby Corporation by 11.3% in the second quarter. Huntington National Bank now owns 2,453 shares of the shipping company’s stock valued at $164,000 after purchasing an additional 249 shares during the period. Verition Fund Management LLC acquired a new stake in Kirby Corporation in the second quarter valued at approximately $204,000. Koch Industries Inc. acquired a new stake in Kirby Corporation in the second quarter valued at approximately $216,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in Kirby Corporation in the second quarter valued at approximately $233,000. Finally, World Asset Management Inc grew its holdings in Kirby Corporation by 12.7% in the second quarter. World Asset Management Inc now owns 3,718 shares of the shipping company’s stock valued at $249,000 after purchasing an additional 418 shares during the period.
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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