Kirby Corporation (NYSE:KEX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, August 1st.
According to Zacks, “Kirby Corporation conducts operations in two business segments: marine transportation and diesel repair. The Company’s marine transportation segment is engaged in the inland transportation of industrial chemicals, petrochemical feedstocks, agricultural chemicals and refined petroleum products by tank barge; and in the offshore transportation of refined petroleum products by tanker and tank barge, and dry-bulk, container and palletized cargoes by barge and break-bulk ship. The Company’s diesel repair segment is engaged in the sale, overhaul and repair of diesel engines and related parts sales. “
KEX has been the subject of several other research reports. Cowen and Company lifted their price target on Kirby Corporation from $65.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. Credit Suisse Group raised Kirby Corporation from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $58.00 to $80.00 in a research report on Wednesday, April 19th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $69.00 price target on shares of Kirby Corporation in a research report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $85.00 price target on shares of Kirby Corporation in a research report on Tuesday, May 30th. Finally, BidaskClub lowered Kirby Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $69.22.
Shares of Kirby Corporation (NYSE KEX) traded down 3.14% on Tuesday, hitting $60.15. 604,326 shares of the stock were exchanged. Kirby Corporation has a 52-week low of $50.80 and a 52-week high of $74.50. The company has a 50 day moving average of $63.47 and a 200 day moving average of $67.29. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 27.57 and a beta of 1.01.
Kirby Corporation (NYSE:KEX) last announced its quarterly earnings data on Wednesday, July 26th. The shipping company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $473.33 million during the quarter, compared to analyst estimates of $478.85 million. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. Equities research analysts forecast that Kirby Corporation will post $1.95 earnings per share for the current year.
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Several large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio increased its stake in Kirby Corporation by 5.4% in the second quarter. Public Employees Retirement System of Ohio now owns 77,268 shares of the shipping company’s stock worth $5,165,000 after buying an additional 3,958 shares in the last quarter. Koch Industries Inc. purchased a new stake in Kirby Corporation during the second quarter worth about $216,000. Verition Fund Management LLC purchased a new stake in Kirby Corporation during the second quarter worth about $204,000. Westwood Holdings Group Inc. increased its stake in Kirby Corporation by 43.3% in the second quarter. Westwood Holdings Group Inc. now owns 5,375 shares of the shipping company’s stock worth $359,000 after buying an additional 1,625 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in Kirby Corporation by 1.8% in the second quarter. Ameritas Investment Partners Inc. now owns 16,161 shares of the shipping company’s stock worth $1,080,000 after buying an additional 285 shares in the last quarter.
Kirby Corporation Company Profile
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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