Ronald Dragg Sells 2,715 Shares of Kirby (NYSE:KEX) Stock

by · The Cerbat Gem

Kirby Corporation (NYSE:KEX – Get Free Report) VP Ronald Dragg sold 2,715 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $110.29, for a total value of $299,437.35. Following the transaction, the vice president directly owned 10,325 shares of the company’s stock, valued at approximately $1,138,744.25. This represents a 20.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Kirby Trading Down 2.6%

KEX stock traded down $2.92 during mid-day trading on Thursday, reaching $107.61. The company’s stock had a trading volume of 613,269 shares, compared to its average volume of 734,269. Kirby Corporation has a 12 month low of $79.51 and a 12 month high of $132.21. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average price is $89.65 and its 200 day moving average price is $101.50. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05.

Kirby (NYSE:KEX – Get Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.05. The firm had revenue of $871.16 million for the quarter, compared to analyst estimates of $843.29 million. Kirby had a net margin of 9.22% and a return on equity of 10.06%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 earnings per share. On average, equities research analysts predict that Kirby Corporation will post 6.57 EPS for the current year.

Analyst Upgrades and Downgrades

KEX has been the topic of a number of recent research reports. Citigroup raised shares of Kirby from a “neutral” rating to a “buy” rating and raised their price objective for the company from $110.00 to $128.00 in a research note on Wednesday, November 5th. BTIG Research restated a “buy” rating and issued a $125.00 target price on shares of Kirby in a report on Thursday, September 18th. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a report on Wednesday, October 8th. Finally, Evercore ISI increased their price objective on Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Kirby has a consensus rating of “Moderate Buy” and a consensus target price of $123.40.

Get Our Latest Research Report on Kirby

Institutional Investors Weigh In On Kirby

A number of institutional investors have recently added to or reduced their stakes in the company. Ethic Inc. grew its stake in shares of Kirby by 3.1% during the 2nd quarter. Ethic Inc. now owns 3,236 shares of the shipping company’s stock worth $372,000 after acquiring an additional 98 shares during the period. Brooklyn Investment Group lifted its holdings in Kirby by 40.7% during the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 114 shares during the last quarter. Bell Investment Advisors Inc boosted its position in Kirby by 67.1% during the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after purchasing an additional 114 shares during the period. State of Wyoming increased its stake in shares of Kirby by 12.8% in the third quarter. State of Wyoming now owns 1,003 shares of the shipping company’s stock worth $84,000 after purchasing an additional 114 shares in the last quarter. Finally, Xponance Inc. raised its position in shares of Kirby by 1.8% in the third quarter. Xponance Inc. now owns 6,809 shares of the shipping company’s stock valued at $568,000 after purchasing an additional 118 shares during the period. 96.15% of the stock is owned by institutional investors.

Kirby Company Profile

(Get Free Report)

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.

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