Jefferies Group LLC reaffirmed their buy rating on shares of Kirby Corporation (NYSE:KEX) in a research report released on Monday, October 16th. Jefferies Group LLC currently has a $85.00 price objective on the shipping company’s stock.
Several other analysts also recently issued reports on KEX. BidaskClub downgraded shares of Kirby Corporation from a sell rating to a strong sell rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded shares of Kirby Corporation from a strong-buy rating to a hold rating in a report on Tuesday, August 1st. Cowen and Company reaffirmed a hold rating and issued a $70.00 price target on shares of Kirby Corporation in a report on Friday, July 28th. Finally, Stifel Nicolaus reissued a hold rating and set a $69.00 price objective on shares of Kirby Corporation in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Kirby Corporation has an average rating of Hold and an average price target of $71.71.
Shares of Kirby Corporation (NYSE:KEX) opened at 68.25 on Monday. The firm has a 50 day moving average price of $65.09 and a 200-day moving average price of $65.59. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 31.28 and a beta of 1.01. Kirby Corporation has a 12-month low of $55.31 and a 12-month high of $74.50.
Kirby Corporation (NYSE:KEX) last announced its quarterly earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The company had revenue of $473.33 million for the quarter, compared to the consensus estimate of $478.85 million. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts expect that Kirby Corporation will post $1.96 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of KEX. Huntington National Bank increased its position in shares of Kirby Corporation by 11.3% in the second quarter. Huntington National Bank now owns 2,453 shares of the shipping company’s stock worth $164,000 after acquiring an additional 249 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Kirby Corporation in the second quarter worth $204,000. Koch Industries Inc. acquired a new stake in shares of Kirby Corporation in the second quarter worth $216,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Kirby Corporation in the second quarter worth $233,000. Finally, World Asset Management Inc increased its position in shares of Kirby Corporation by 12.7% in the second quarter. World Asset Management Inc now owns 3,718 shares of the shipping company’s stock worth $249,000 after acquiring an additional 418 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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