Kirby (NYSE:KEX) Sees Strong Trading Volume – Time to Buy?

Kirby Co. (NYSE:KEX) shares saw unusually-high trading volume on Wednesday . Approximately 338,903 shares changed hands during trading, a decline of 25% from the previous session’s volume of 451,669 shares.The stock last traded at $119.25 and had previously closed at $123.05.

Analysts Set New Price Targets

KEX has been the subject of a number of research analyst reports. StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. Bank of America raised their price objective on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Kirby Stock Down 5.1 %

The stock has a 50-day moving average of $120.89 and a 200-day moving average of $117.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 29.09, a P/E/G ratio of 0.75 and a beta of 1.17.

Kirby (NYSE:KEX) last released its earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.11. The company had revenue of $824.40 million for the quarter, compared to analyst estimates of $821.65 million. Kirby had a return on equity of 8.70% and a net margin of 8.72%. Kirby’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 EPS. Sell-side analysts predict that Kirby Co. will post 5.46 EPS for the current fiscal year.

Insider Activity

In other Kirby news, COO Christian G. O’neil sold 2,770 shares of the firm’s 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 sale, the chief operating officer now owns 16,079 shares of the company’s stock, valued at approximately $1,772,066.59. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO David W. Grzebinski sold 26,358 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the transaction, the chief executive officer now owns 63,399 shares in the company, valued at $7,637,043.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the sale, the chief operating officer now directly owns 16,079 shares in the company, valued at $1,772,066.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,012 shares of company stock worth $5,571,267. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kirby

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its position in Kirby by 420.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 168 shares during the period. International Assets Investment Management LLC acquired a new position in Kirby in the second quarter valued at $26,000. ORG Wealth Partners LLC bought a new stake in Kirby during the third quarter valued at $30,000. ORG Partners LLC acquired a new stake in Kirby during the 2nd quarter worth about $32,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Kirby in the 2nd quarter worth about $33,000. 96.15% of the stock is 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.