Kirby (NYSE:KEX) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Kirby (NYSE:KEX) from a buy rating to a hold rating in a report issued on Wednesday.

Kirby Stock Down 2.1 %

Shares of NYSE KEX opened at $104.14 on Wednesday. Kirby has a 1 year low of $74.88 and a 1 year high of $132.21. The firm has a 50-day simple moving average of $122.05 and a two-hundred day simple moving average of $120.40. The company has a market cap of $5.98 billion, a P/E ratio of 19.99, a PEG ratio of 0.70 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The firm had revenue of $831.10 million during the quarter, compared to analyst estimates of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. Kirby’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $1.05 EPS. Research analysts anticipate that Kirby will post 5.45 earnings per share for the current year.

Insider Transactions at Kirby

In other news, Director Richard Ross Stewart sold 8,000 shares of Kirby stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the completion of the sale, the director now owns 15,488 shares of the company’s stock, valued at approximately $1,985,716.48. The trade was a 34.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Christian G. O’neil sold 15,041 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total value of $1,955,330.00. Following the transaction, the chief operating officer now owns 7,746 shares in the company, valued at $1,006,980. The trade was a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,354 shares of company stock worth $3,275,455. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Kirby

Several institutional investors have recently bought and sold shares of the business. Quest Partners LLC increased its holdings in shares of Kirby by 1,247.8% in the 2nd quarter. Quest Partners LLC now owns 12,373 shares of the shipping company’s stock valued at $1,481,000 after acquiring an additional 11,455 shares during the period. Samlyn Capital LLC boosted its position in Kirby by 7.8% during the second quarter. Samlyn Capital LLC now owns 319,752 shares of the shipping company’s stock valued at $38,284,000 after purchasing an additional 23,086 shares in the last quarter. Creative Planning grew its stake in Kirby by 2.2% in the third quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock valued at $818,000 after purchasing an additional 147 shares during the last quarter. Atria Investments Inc raised its holdings in Kirby by 27.5% in the third quarter. Atria Investments Inc now owns 35,353 shares of the shipping company’s stock worth $4,328,000 after purchasing an additional 7,629 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Kirby by 70.7% during the second quarter. Envestnet Asset Management Inc. now owns 74,875 shares of the shipping company’s stock valued at $8,965,000 after buying an additional 31,011 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.