TheStreet Downgrades Kirby (NYSE:KEX) to C+

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Kirby (NYSE:KEX) was downgraded by equities researchers at TheStreet from a “b” rating to a “c+” rating in a report issued on Thursday, TheStreetRatingsTable reports.

Several other equities research analysts also recently commented on KEX. Zacks Investment Research downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Wells Fargo & Co boosted their target price on shares of Kirby from $74.00 to $80.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. They noted that the move was a valuation call. Stephens upgraded shares of Kirby from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $93.00 to $96.00 in a research note on Monday, July 29th. Finally, Bank of America upgraded shares of Kirby from an “underperform” rating to a “buy” rating in a research note on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $81.13.

KEX opened at $73.17 on Thursday. Kirby has a fifty-two week low of $60.63 and a fifty-two week high of $88.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.00 and a quick ratio of 1.19. The firm’s fifty day moving average price is $75.88 and its two-hundred day moving average price is $77.60. The company has a market capitalization of $4.27 billion, a P/E ratio of 25.58, a P/E/G ratio of 2.25 and a beta of 1.02.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, July 25th. The shipping company reported $0.79 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.02). Kirby had a net margin of 3.70% and a return on equity of 5.47%. The firm had revenue of $771.00 million during the quarter, compared to analyst estimates of $767.04 million. During the same quarter in the prior year, the firm posted $0.78 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities research analysts expect that Kirby will post 2.97 EPS for the current fiscal year.

In related news, Director William M. Waterman sold 20,000 shares of Kirby stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $82.35, for a total value of $1,647,000.00. Following the completion of the transaction, the director now directly owns 91,260 shares of the company’s stock, valued at $7,515,261. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dorman Lynn Strahan sold 1,500 shares of Kirby stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $78.72, for a total value of $118,080.00. Following the completion of the transaction, the insider now directly owns 20,421 shares of the company’s stock, valued at $1,607,541.12. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC raised its holdings in Kirby by 103.1% during the 2nd quarter. Advisory Services Network LLC now owns 325 shares of the shipping company’s stock worth $26,000 after purchasing an additional 165 shares during the last quarter. Carroll Financial Associates Inc. bought a new stake in Kirby during the 1st quarter worth about $36,000. Investors Research Corp bought a new stake in Kirby during the 1st quarter worth about $56,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kirby by 32.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 823 shares of the shipping company’s stock worth $65,000 after purchasing an additional 201 shares during the last quarter. Finally, Huntington National Bank raised its holdings in Kirby by 10.1% during the 2nd quarter. Huntington National Bank now owns 1,663 shares of the shipping company’s stock worth $131,000 after purchasing an additional 152 shares during the last quarter. 95.01% 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 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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