Analysts Set Kirby Corporation (KEX) Target Price at $70.71

Kirby Corporation (NYSE:KEX) has earned an average rating of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $70.71.

Several equities analysts have issued reports on KEX shares. Jefferies Group LLC reissued a “buy” rating and issued a $85.00 price target on shares of Kirby Corporation in a research note on Tuesday, May 30th. Zacks Investment Research lowered Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Cowen and Company reissued a “hold” rating and issued a $70.00 price target on shares of Kirby Corporation in a research note on Friday, July 28th. Stifel Nicolaus reissued a “hold” rating and issued a $69.00 price target on shares of Kirby Corporation in a research note on Friday, July 28th. Finally, BidaskClub raised Kirby Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th.

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Kirby Corporation (NYSE KEX) traded up 1.40% during mid-day trading on Friday, reaching $65.25. The company had a trading volume of 234,137 shares. Kirby Corporation has a one year low of $55.09 and a one year high of $74.50. The firm’s 50-day moving average is $62.22 and its 200-day moving average is $66.18. The firm has a market capitalization of $3.52 billion, a P/E ratio of 29.90 and a beta of 1.01.

Kirby Corporation (NYSE:KEX) last issued its quarterly earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. Kirby Corporation had a return on equity of 4.85% and a net margin of 6.41%. The firm had revenue of $473.33 million for the quarter, compared to analyst estimates of $478.85 million. During the same period in the previous year, the firm earned $0.72 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Kirby Corporation will post $1.95 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KEX. Great West Life Assurance Co. Can increased its holdings in shares of Kirby Corporation by 4.6% during the first quarter. Great West Life Assurance Co. Can now owns 27,765 shares of the shipping company’s stock valued at $1,958,000 after acquiring an additional 1,209 shares in the last quarter. State Treasurer State of Michigan increased its holdings in shares of Kirby Corporation by 0.9% during the first quarter. State Treasurer State of Michigan now owns 21,900 shares of the shipping company’s stock valued at $1,545,000 after acquiring an additional 200 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Kirby Corporation by 22.6% during the first quarter. Advisors Asset Management Inc. now owns 5,932 shares of the shipping company’s stock valued at $419,000 after acquiring an additional 1,092 shares in the last quarter. Comerica Bank increased its holdings in shares of Kirby Corporation by 3.6% during the first quarter. Comerica Bank now owns 41,661 shares of the shipping company’s stock valued at $2,981,000 after acquiring an additional 1,455 shares in the last quarter. Finally, World Asset Management Inc increased its holdings in shares of Kirby Corporation by 0.9% during the first quarter. World Asset Management Inc now owns 3,300 shares of the shipping company’s stock valued at $233,000 after acquiring an additional 28 shares in the last quarter.

Kirby Corporation Company Profile

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

Analyst Recommendations for Kirby Corporation (NYSE:KEX)

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