Analysts at RBC Capital Markets upgraded shares of Kirby Corp. (NYSE: KEX) from Sector Perform to Outperform today. RBC Capital Markets currently has a rating of Outperform on the shares. A number of other analysts have commented on the stock recently, and Kirby Corp. has earned a consensus one-year price target of $57.78, a decrease compared to the opening price of $58.17, a difference of 9.88 percent. Kirby Corp. stock has a 52-week high of $73.25. Usually, after analysts give an upgrade report on a stock, they will subsequently issue recurring updates, such as a price target change.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday Kirby Corp. (NYSE: KEX) shares last traded at $58.49, which is an increase of $1.49 over the previous closing price. Opening at $58.17, they varied from $57.84 and $59.00 throughout the day.
Kirby Corp. (NYSE: KEX) currently has a market cap of 3.15B.
The stock’s average daily volume is 819,564 shares out of a total float 52,467,000 and some 1,002,047 shares traded hands yesterday, 74 percent higher than the norm. Heavy volume accumulation by institutional investors may be on the horizon as the combination of substantial expansions in trading volume and price inflation can be indicative components.
As with all potential breakouts, investors watch for volume to be at least 40%-50% greater than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you are considering.
By following the activity of these professional investors—and the moving averages they influence— traders can make well planned trades.
With that in mind, Kirby Corp. (NYSE: KEX) now has a 50-day MA of $54.59 and 200-day MA of $61.37. It has traded in a 52-week range between $44.63 – 73.25 and today’s last price is 0.20% lower than the 52 week high of $73.25.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors look for companies that have increased their earnings at least 25% or more for the past 3 years.
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