Analysts at Royal Bank Of Canada upgraded shares of Kirby Corp. (NYSE: KEX) from Sector Perform to Outperform today. Royal Bank Of Canada currently has a rating of Outperform on the shares. A number of other analysts have spoken on the stock recently, and the company has earned a consensus one-year price target of $57.78, lower than the opening price of $58.17. Kirby Corp. stock has a 52-week high of $73.25. Typically, after analysts give an upgrade report on a stock, they will subsequently issue sporadic revisions, 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, an increase of $1.49 over the previous closing price. Opening at $58.17, they ranged 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 crossed the trading desk yesterday, 74 percent higher than the average. Large expansions in trading volume and price appreciation together could mean excessive volume aggregation by institutional investors.
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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you’re considering.
Traders are able to make make more effective choices on trades when they track the trading habits of professional investors.
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.
Earnings growth is a crucial factor to consider when buying stocks and investors identify companies that have been successful at growing their earnings by at least 25% over a 3 year period.
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