Bank of America Cuts Kirby (NYSE:KEX) Price Target to $123.00

Kirby (NYSE:KEX) had its price target decreased by Bank of America from $133.00 to $123.00 in a research report report published on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the shipping company’s stock.

KEX has been the subject of several other reports. Stifel Nicolaus decreased their price target on shares of Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a report on Friday, January 31st. StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.75.

Kirby Trading Down 2.1 %

Shares of KEX opened at $100.77 on Friday. The company has a market capitalization of $5.73 billion, a P/E ratio of 20.52, a P/E/G ratio of 0.88 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45. The stock has a 50-day moving average price of $104.15 and a 200 day moving average price of $113.62. Kirby has a one year low of $93.63 and a one year high of $132.21.

Kirby (NYSE:KEX) last issued its quarterly 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 9.71% and a net margin of 8.78%. Sell-side analysts forecast that Kirby will post 6.57 EPS for the current fiscal year.

Insider Activity

In other news, VP Scott P. Miller sold 1,244 shares of Kirby stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the sale, the vice president now owns 5,545 shares of the company’s stock, valued at approximately $596,697.45. The trade was a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Institutional Trading of Kirby

Several large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its position in Kirby by 1.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company’s stock worth $895,000 after acquiring an additional 108 shares during the period. Huntington National Bank lifted its holdings in Kirby by 6.8% in the fourth quarter. Huntington National Bank now owns 1,781 shares of the shipping company’s stock worth $188,000 after purchasing an additional 113 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Kirby by 1.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,035 shares of the shipping company’s stock valued at $1,379,000 after buying an additional 124 shares in the last quarter. Stifel Financial Corp grew its position in Kirby by 0.5% in the 4th quarter. Stifel Financial Corp now owns 29,047 shares of the shipping company’s stock valued at $3,073,000 after buying an additional 138 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in Kirby by 0.5% during the 4th quarter. Corient Private Wealth LLC now owns 30,914 shares of the shipping company’s stock valued at $3,271,000 after buying an additional 140 shares during the period. 96.15% of the stock is currently owned by institutional investors and hedge funds.

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.