Published On: Tue, Sep 6th, 2016

Kirby Corp. (KEX) Earns Buy Rating from Jefferies Group

Kirby Corp. (NYSE:KEX)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group in a research report issued to clients and investors on Tuesday.
Shares of Kirby Corp. (NYSE:KEX) traded up 1.80% during mid-day trading on Tuesday, hitting $54.27. The stock had a trading volume of 222,341 shares. The firm’s 50 day moving average price is $55.80 and its 200 day moving average price is $61.29. Kirby Corp. has a 1-year low of $44.63 and a 1-year high of $73.25. The company has a market cap of $2.92 billion and a P/E ratio of 15.92.
Kirby Corp. (NYSE:KEX) last issued its earnings results on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.70 by $0.02. The company had revenue of $441.60 million for the quarter, compared to analysts’ expectations of $454.12 million. During the same quarter in the previous year, the firm posted $1.04 earnings per share. Kirby Corp.’s revenue for the quarter was down 18.7% on a year-over-year basis. Analysts predict that Kirby Corp. will post $2.61 earnings per share for the current fiscal year.

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A number of hedge funds have bought and sold shares of KEX. Atlanta Capital Management Co. L L C boosted its stake in Kirby Corp. by 49.7% in the first quarter. Atlanta Capital Management Co. L L C now owns 3,286,493 shares of the company’s stock valued at $198,143,000 after buying an additional 1,091,721 shares during the period. State Street Corp boosted its stake in Kirby Corp. by 0.6% in the first quarter. State Street Corp now owns 1,517,214 shares of the company’s stock valued at $91,468,000 after buying an additional 8,771 shares during the period. Fiduciary Management Inc. WI boosted its stake in Kirby Corp. by 35.5% in the first quarter. Fiduciary Management Inc. WI now owns 1,350,087 shares of the company’s stock valued at $81,397,000 after buying an additional 353,755 shares during the period. Royce & Associates LP boosted its stake in Kirby Corp. by 755.0% in the first quarter. Royce & Associates LP now owns 1,052,500 shares of the company’s stock valued at $63,455,000 after buying an additional 929,400 shares during the period. Finally, RS Investment Management Co. LLC acquired a new stake in Kirby Corp. during the second quarter valued at approximately $52,392,000.
KEX has been the topic of several other reports. Vetr lowered shares of Kirby Corp. from a “hold” rating to a “sell” rating and set a $67.34 target price on the stock. in a research report on Thursday, May 26th. Zacks Investment Research upgraded shares of Kirby Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Credit Suisse Group AG lowered shares of Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Tuesday, June 21st. Finally, Wells Fargo & Co. lowered shares of Kirby Corp. from a “market perform” rating to an “underperform” rating and set a $46.00 target price on the stock. in a research report on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Kirby Corp. has an average rating of “Hold” and an average price target of $60.33.
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.

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