Kirby Co. (NYSE:KEX) Short Interest Update

Kirby Co. (NYSE:KEX) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 928,600 shares, a growth of 14.3% from the September 30th total of 812,500 shares. Based on an average daily trading volume, of 449,600 shares, the short-interest ratio is currently 2.1 days. Approximately 1.6% of the company’s shares are sold short.

Insider Activity

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now directly owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. The trade was 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 other Kirby news, COO Christian G. O’neil sold 2,770 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the transaction, the chief operating officer now owns 16,079 shares in the company, valued at approximately $1,772,066.59. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Amy D. Husted sold 2,853 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares in the company, valued at $668,131.20. This represents 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 valued at $5,571,267. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

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

Kirby Stock Down 1.4 %

NYSE:KEX traded down $1.73 on Tuesday, hitting $123.05. 898,449 shares of the company’s stock were exchanged, compared to its average volume of 452,827. The firm has a 50-day moving average price of $120.75 and a 200-day moving average price of $117.80. Kirby has a 52 week low of $72.11 and a 52 week high of $130.90. 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 company has a market cap of $7.20 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The firm had revenue of $824.40 million during the quarter, compared to the consensus estimate of $821.65 million. During the same period last year, the company earned $0.95 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts expect that Kirby will post 5.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KEX shares. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a 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 report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.80.

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.