Analysts at Jefferies Group initiated coverage on shares of Kirby (NYSE:KEX) in a research note issued to investors on Monday, December 18th. The brokerage set a “buy” rating and a $85.00 price target on the shipping company’s stock. Jefferies Group’s target price points to a potential upside of 14.79% from the company’s current price. Jefferies Group also issued estimates for Kirby’s Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $2.05 EPS and FY2018 earnings at $2.40 EPS.
Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $67.00 target price on shares of Kirby in a research report on Friday, November 3rd. BidaskClub raised Kirby from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $74.50.
Shares of Kirby (KEX) traded up $2.75 during trading hours on Monday, reaching $74.05. The company’s stock had a trading volume of 617,579 shares, compared to its average volume of 474,461. The firm has a market capitalization of $4,420.00, a price-to-earnings ratio of 35.26, a PEG ratio of 3.56 and a beta of 1.04. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23. Kirby has a 12 month low of $59.25 and a 12 month high of $74.50.
Kirby (NYSE:KEX) last announced its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.08. Kirby had a return on equity of 4.48% and a net margin of 5.88%. The company had revenue of $541.30 million during the quarter, compared to analyst estimates of $517.54 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The firm’s revenue was up 24.5% on a year-over-year basis. research analysts predict that Kirby will post 2.03 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of KEX. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Kirby by 79.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock worth $127,000 after buying an additional 857 shares during the period. Verition Fund Management LLC purchased a new position in Kirby in the second quarter valued at about $204,000. Trust Co purchased a new position in Kirby in the third quarter valued at about $208,000. Boothbay Fund Management LLC purchased a new position in Kirby in the third quarter valued at about $209,000. Finally, Koch Industries Inc. purchased a new position in Kirby in the second quarter valued at about $216,000. 96.58% of the stock is owned by institutional investors.
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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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