Kirby (NYSE:KEX) Trading 8.5% Higher – Should You Buy?

Shares of Kirby Co. (NYSE:KEX) traded up 8.5% during trading on Thursday . The stock traded as high as $115.17 and last traded at $115.58. 661,647 shares were traded during trading, a decline of 3% from the average session volume of 680,318 shares. The stock had previously closed at $106.56.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.80.

Kirby Stock Up 4.8 %

The stock has a market cap of $6.41 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 0.55 and a beta of 1.21. The stock’s 50-day moving average is $112.70 and its 200-day moving average is $117.98. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, January 30th. The shipping company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.43% and a net margin of 9.37%. As a group, research analysts anticipate that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Kirby

In other news, VP Ronald A. Dragg sold 2,313 shares of Kirby stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the transaction, the vice president now directly owns 7,683 shares of the company’s stock, valued at $978,045.90. This trade represents a 23.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Christian G. O’neil sold 15,041 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the completion of the sale, the chief operating officer now owns 7,746 shares of the company’s stock, valued at approximately $1,006,980. This trade represents a 66.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 25,354 shares of company stock valued at $3,275,455. 1.50% of the stock is owned by insiders.

Institutional Trading of Kirby

A number of hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC grew its holdings in shares of Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after buying an additional 168 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Kirby in the fourth quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Kirby during the third quarter worth approximately $30,000. Brooklyn Investment Group purchased a new position in Kirby during the third quarter valued at approximately $42,000. Finally, Capital Performance Advisors LLP acquired a new position in Kirby in the 3rd quarter valued at approximately $52,000. 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.