Kirby (NYSE:KEX) Price Target Raised to $141.00 at Bank of America

Kirby (NYSE:KEX) had its target price boosted by Bank of America from $138.00 to $141.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the shipping company’s stock.

A number of other research firms also recently weighed in on KEX. Stifel Nicolaus upped their target price on shares of Kirby from $131.00 to $132.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Wolfe Research assumed coverage on shares of Kirby in a research report on Monday, April 22nd. They set an outperform rating and a $126.00 price objective on the stock. StockNews.com raised shares of Kirby from a hold rating to a buy rating in a research report on Tuesday, April 16th. Finally, BTIG Research increased their price objective on shares of Kirby from $100.00 to $115.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $123.80.

Kirby Stock Up 1.3 %

NYSE:KEX opened at $119.45 on Tuesday. The firm’s 50-day moving average price is $120.69 and its 200-day moving average price is $102.28. The company has a market capitalization of $6.99 billion, a PE ratio of 28.24, a P/E/G ratio of 0.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.81 and a quick ratio of 1.12. Kirby has a 1-year low of $72.11 and a 1-year high of $130.90.

Kirby (NYSE:KEX) last released its earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.22. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $784.49 million. Kirby had a net margin of 8.01% and a return on equity of 7.96%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities analysts predict that Kirby will post 5.3 EPS for the current fiscal year.

Insider Activity at Kirby

In other news, Director Richard Ross Stewart sold 676 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $109.60, for a total transaction of $74,089.60. Following the sale, the director now owns 23,488 shares of the company’s stock, valued at approximately $2,574,284.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Richard Ross Stewart sold 676 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $109.60, for a total transaction of $74,089.60. Following the sale, the director now owns 23,488 shares of the company’s stock, valued at approximately $2,574,284.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP William Matthew Woodruff sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $109.25, for a total transaction of $409,687.50. Following the sale, the vice president now directly owns 941 shares in the company, valued at approximately $102,804.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,319 shares of company stock valued at $3,896,633. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Kirby

Several institutional investors have recently made changes to their positions in the business. Legato Capital Management LLC bought a new position in shares of Kirby in the 2nd quarter worth approximately $1,139,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Kirby by 237.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 81,782 shares of the shipping company’s stock worth $9,792,000 after purchasing an additional 57,512 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Kirby by 2.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 463,275 shares of the shipping company’s stock worth $55,468,000 after purchasing an additional 13,130 shares during the period. Optas LLC bought a new position in shares of Kirby in the 2nd quarter worth approximately $247,000. Finally, New York State Teachers Retirement System lifted its stake in shares of Kirby by 1.2% in the 2nd quarter. New York State Teachers Retirement System now owns 67,781 shares of the shipping company’s stock worth $8,115,000 after purchasing an additional 792 shares during the period. Institutional investors own 96.15% of the company’s stock.

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.