Insider Selling: Kirby Co. (NYSE:KEX) COO Sells 2,770 Shares of Stock

Kirby Co. (NYSE:KEX) COO Christian G. O’neil sold 2,770 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $110.21, for a total value of $305,281.70. Following the completion of the sale, the chief operating officer now directly owns 16,079 shares in the company, valued at $1,772,066.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Kirby Trading Up 2.9 %

Shares of NYSE:KEX traded up $3.17 during trading hours on Tuesday, hitting $110.74. 647,100 shares of the company’s stock traded hands, compared to its average volume of 466,587. The firm has a market capitalization of $6.48 billion, a P/E ratio of 26.18, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18. The business has a fifty day moving average price of $119.82 and a 200-day moving average price of $104.54. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $130.90. 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 (NYSE:KEX) last posted its quarterly earnings data on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. Kirby had a return on equity of 8.75% and a net margin of 8.72%. The company had revenue of $824.40 million during the quarter, compared to analysts’ expectations of $821.65 million. During the same quarter in the previous year, the business earned $0.95 EPS. Kirby’s revenue was up 6.1% compared to the same quarter last year. Equities analysts expect that Kirby Co. will post 5.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wolfe Research assumed coverage on Kirby in a report on Monday, April 22nd. They set an “outperform” rating and a $126.00 price target on the stock. StockNews.com upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Bank of America lifted their price target on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus increased their target price on Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $123.80.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Park West Asset Management LLC bought a new position in Kirby in the 4th quarter worth about $61,824,000. Norges Bank purchased a new position in Kirby during the 4th quarter worth $51,781,000. Lord Abbett & CO. LLC bought a new stake in Kirby during the 1st quarter valued at $22,877,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Kirby by 21.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 896,257 shares of the shipping company’s stock worth $85,432,000 after buying an additional 157,880 shares during the period. Finally, F M Investments LLC bought a new position in shares of Kirby during the 2nd quarter worth $14,185,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Company Profile

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.