Kirby (NYSE:KEX) Cut to “Hold” at StockNews.com

Kirby (NYSE:KEX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

Kirby Stock Up 1.0 %

KEX traded up $1.07 during mid-day trading on Thursday, reaching $105.12. 410,278 shares of the stock were exchanged, compared to its average volume of 685,835. Kirby has a 1 year low of $74.88 and a 1 year high of $132.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. The stock has a market capitalization of $6.03 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 0.69 and a beta of 1.21. The company has a 50 day moving average price of $117.70 and a two-hundred day moving average price of $119.24.

Kirby (NYSE:KEX) last released its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.08. The business had revenue of $831.10 million for the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. As a group, research analysts anticipate that Kirby will post 5.45 EPS for the current year.

Insiders Place Their Bets

In other news, VP Ronald A. Dragg sold 2,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total transaction of $294,444.90. Following the completion of the sale, the vice president now owns 7,683 shares in the company, valued at $978,045.90. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Christian G. O’neil sold 15,041 shares of Kirby stock in a transaction that occurred on Tuesday, November 12th. The stock was 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 directly owns 7,746 shares in the company, valued at $1,006,980. This trade represents a 66.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,354 shares of company stock valued at $3,275,455. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Kirby

Large investors have recently added to or reduced their stakes in the company. Quest Partners LLC raised its position in Kirby by 0.7% during the third quarter. Quest Partners LLC now owns 12,462 shares of the shipping company’s stock valued at $1,526,000 after purchasing an additional 89 shares in the last quarter. Americana Partners LLC increased its position in shares of Kirby by 2.1% during the 3rd quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock valued at $600,000 after purchasing an additional 100 shares during the last quarter. Huntington National Bank raised its holdings in shares of Kirby by 8.5% during the 3rd quarter. Huntington National Bank now owns 1,668 shares of the shipping company’s stock valued at $204,000 after buying an additional 130 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Kirby by 3.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company’s stock valued at $523,000 after buying an additional 133 shares in the last quarter. Finally, Creative Planning lifted its position in Kirby by 2.2% in the 3rd quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock worth $818,000 after buying an additional 147 shares during the last quarter. 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.