StockNews.com Downgrades Kirby (NYSE:KEX) to Hold

Kirby (NYSE:KEX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Kirby Trading Down 1.1 %

NYSE KEX opened at $103.89 on Thursday. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 0.69 and a beta of 1.21. 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 has a 12 month low of $74.88 and a 12 month high of $132.21. The company’s fifty day moving average price is $117.29 and its two-hundred day moving average price is $119.03.

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

Insider Buying and Selling

In related news, VP Ronald A. Dragg sold 2,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total value of $294,444.90. Following the sale, the vice president now owns 7,683 shares of the company’s stock, valued at approximately $978,045.90. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christian G. O’neil sold 15,041 shares of the company’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 of the company’s stock, valued at approximately $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. Insiders have sold 25,354 shares of company stock worth $3,275,455 over the last ninety days. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Kirby

Several institutional investors have recently modified their holdings of KEX. Farther Finance Advisors LLC increased its position in Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 168 shares during the period. ORG Wealth Partners LLC acquired a new position in shares of Kirby during the third quarter valued at $30,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Kirby during the second quarter valued at about $37,000. Brooklyn Investment Group acquired a new stake in Kirby in the third quarter worth about $42,000. Finally, Capital Performance Advisors LLP bought a new position in Kirby in the 3rd quarter valued at about $52,000. Institutional investors own 96.15% of the company’s stock.

Kirby Company Profile

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.