Kirby Corp. (KEX) Stock Down After Price Target Increase at Jefferies

Kirby Corp. (NYSE: KEX) shares were down on Monday January 23 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.

Meanwhile, U.S. stocks flipped between small gains and losses in early trade on Monday.

The Dow Jones Industrial Average DJIA, -0.14% was off by 13 points, or less than 0.1%, at 19,815, with McDonald’s Corp MCD, -0.99% and General Electric CoGE, -0.95% leading the losses, down more than 1%.

The S&P 500 SPX, -0.18% slipped 2 point to 2,270, with five of the main sectors trading lower. The Nasdaq Composite COMP, -0.09% gained 4 points to 5,558.

Kirby Corp. (NYSE: KEX) had its price target boosted by equities researchers at Jefferies from $0.00 to $75.00. With a rating of on the shares, the company has a 52-week high of $73.25. A number of other analysts have issued reports on the company recently, and the company has earned a consensus one-year price target of $56.89, a decrease compared to the opening price of $65.15, a difference of 8.73 percent.

Yesterday Kirby Corp. (NYSE: KEX) shares last traded at $65.20, a drop of $0.40 compared to the previous closing price. Opening at $65.15, they varied from $65.05 and $66.07 throughout the day.

Kirby Corp. (NYSE: KEX) now has a market cap of 3.51B.

Kirby Corp. (NYSE: KEX) Average Daily Trading Volume

33,109 shares crossed the trading desk yesterday, 22 percent below the norm, out of a total float 52,480,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.

While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.

Kirby Corp. (NYSE: KEX) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.

With that in mind, Kirby Corp. (NYSE: KEX) now has a 50-day MA of $66.90 and 200-day MA of $60.83. It has traded in a 52-week range between $44.63 – 73.25 and today’s last price is 10.99%% lower than the 52 week high of $73.25.

Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% over a 3 year period.

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