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 released on Thursday.

Kirby Stock Performance

KEX opened at $103.89 on Thursday. Kirby has a 12-month low of $74.88 and a 12-month high of $132.21. The firm has a market capitalization of $5.96 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 0.69 and a beta of 1.21. The stock’s 50 day moving average price is $117.29 and its two-hundred day moving average price is $119.03. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The business had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. During the same quarter last year, the company posted $1.05 earnings per share. Kirby’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Kirby will post 5.45 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Ronald A. Dragg sold 2,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $127.30, for a total transaction of $294,444.90. Following the completion of the transaction, the vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Ross Stewart sold 8,000 shares of the company’s stock in a transaction dated 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 directly owns 15,488 shares in the company, valued at approximately $1,985,716.48. The trade was a 34.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,354 shares of company stock valued at $3,275,455 over the last three months. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kirby

Institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC lifted its position in shares of Kirby by 0.7% during the 3rd quarter. Quest Partners LLC now owns 12,462 shares of the shipping company’s stock worth $1,526,000 after buying an additional 89 shares during the period. Americana Partners LLC raised its stake in Kirby by 2.1% during the third quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock worth $600,000 after acquiring an additional 100 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Kirby by 8.5% during the third quarter. Huntington National Bank now owns 1,668 shares of the shipping company’s stock valued at $204,000 after acquiring an additional 130 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Kirby by 3.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company’s stock valued at $523,000 after purchasing an additional 133 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Kirby by 2.2% in the 3rd quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock worth $818,000 after purchasing an additional 147 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

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.