ValuEngine Downgrades Kirby (NYSE:KEX) to Hold

Kirby (NYSE:KEX) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday, ValuEngine reports.

KEX has been the subject of a number of other reports. Stephens upgraded Kirby from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $93.00 to $96.00 in a research report on Monday, July 29th. TheStreet upgraded Kirby from a “c+” rating to a “b-” rating in a research report on Wednesday, September 11th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $81.13.

KEX stock traded up $1.68 during midday trading on Thursday, reaching $79.86. The stock had a trading volume of 253,800 shares, compared to its average volume of 472,491. The business has a fifty day simple moving average of $78.17 and a two-hundred day simple moving average of $78.35. The company has a quick ratio of 1.19, a current ratio of 2.00 and a debt-to-equity ratio of 0.52. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 2.58 and a beta of 1.05. Kirby has a twelve month low of $60.63 and a twelve month high of $86.44.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, July 25th. The shipping company reported $0.79 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.02). The firm had revenue of $771.00 million during the quarter, compared to analyst estimates of $767.04 million. Kirby had a return on equity of 5.47% and a net margin of 3.70%. Kirby’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, equities analysts predict that Kirby will post 2.97 earnings per share for the current fiscal year.

In related news, VP Ronald A. Dragg sold 690 shares of Kirby stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $82.79, for a total value of $57,125.10. Following the completion of the sale, the vice president now directly owns 11,076 shares in the company, valued at $916,982.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph H. Reniers sold 9,075 shares of Kirby stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $82.17, for a total value of $745,692.75. Following the completion of the sale, the insider now owns 30,576 shares of the company’s stock, valued at $2,512,429.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,508 shares of company stock valued at $2,115,023. Corporate insiders own 1.80% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Kirby by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,153,777 shares of the shipping company’s stock worth $407,148,000 after buying an additional 25,966 shares during the period. Impala Asset Management LLC acquired a new position in shares of Kirby during the 2nd quarter worth about $63,505,000. Invesco Ltd. grew its position in shares of Kirby by 20.3% during the 2nd quarter. Invesco Ltd. now owns 753,206 shares of the shipping company’s stock worth $59,504,000 after buying an additional 127,083 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Kirby during the 2nd quarter worth about $58,163,000. Finally, Bank of New York Mellon Corp grew its position in shares of Kirby by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 564,687 shares of the shipping company’s stock worth $44,610,000 after buying an additional 5,032 shares during the period. Institutional investors own 94.67% of the company’s stock.

About Kirby

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

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