November 29, 2016 - By Adrian Mccoy · 0 Comments
Kirby Corp (NYSE:KEX) institutional sentiment increased to 1.11 in Q2 2016. Its up 0.05, from 1.06 in 2016Q1. The ratio is positive, as 122 hedge funds increased and started new holdings, while 115 decreased and sold their stakes in Kirby Corp. The hedge funds in our partner’s database reported: 52.89 million shares, up from 52.27 million shares in 2016Q1. Also, the number of hedge funds holding Kirby Corp in their top 10 holdings increased from 4 to 6 for an increase of 2. Sold All: 31 Reduced: 84 Increased: 88 New Position: 34.
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The company has a market cap of $3.22 billion. The Company, through its subsidiaries, operates in two divisions: Marine Transportation and Diesel Engine Services. It has a 20.87 P/E ratio. The Company, through its Marine Transportation segment, is a well-known provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
About 301,649 shares traded hands. Kirby Corporation (NYSE:KEX) has declined 1.50% since April 26, 2016 and is downtrending. It has underperformed by 6.76% the S&P500.
Analysts await Kirby Corporation (NYSE:KEX) to report earnings on January, 25. They expect $0.52 EPS, down 44.68% or $0.42 from last year’s $0.94 per share. KEX’s profit will be $27.09 million for 29.71 P/E if the $0.52 EPS becomes a reality. After $0.59 actual EPS reported by Kirby Corporation for the previous quarter, Wall Street now forecasts -11.86% negative EPS growth.
According to Zacks Investment Research, “Kirby Corporation conducts operations in two business segments: marine transportation and diesel repair. The Company’s marine transportation segment is engaged in the inland transportation of industrial chemicals, petrochemical feedstocks, agricultural chemicals and refined petroleum products by tank barge; and in the offshore transportation of refined petroleum products by tanker and tank barge, and dry-bulk, container and palletized cargoes by barge and break-bulk ship. The Company’s diesel repair segment is engaged in the sale, overhaul and repair of diesel engines and related parts sales.”
Park Presidio Capital Llc holds 7.07% of its portfolio in Kirby Corporation for 725,000 shares. Yost Capital Management L.L.C. owns 196,475 shares or 6.67% of their US portfolio. Moreover, Lafitte Capital Management Lp has 5.14% invested in the company for 125,000 shares. The Kansas-based Mitchell Capital Management Co has invested 3.41% in the stock. Impala Asset Management Llc, a Connecticut-based fund reported 516,749 shares.#img1#
Ratings analysis reveals 33% of Kirby’s analysts are positive. Out of 12 Wall Street analysts rating Kirby, 4 give it “Buy”, 0 “Sell” rating, while 8 recommend “Hold”. The lowest target is $32 while the high is $90. The stock’s average target of $64.90 is 5.02% above today’s ($61.8) share price. KEX was included in 18 notes of analysts from July 31, 2015. Cowen & Co maintained the stock with “Outperform” rating in Thursday, January 28 report. As per Friday, July 31, the company rating was maintained by RBC Capital Markets. Seaport Global Securities initiated the stock with “Neutral” rating in Thursday, November 10 report. The rating was upgraded by BBT on Monday, May 2 to “Buy”. RBC Capital Markets upgraded Kirby Corporation (NYSE:KEX) rating on Tuesday, September 20. RBC Capital Markets has “Outperform” rating and $68 price target. The stock of Kirby Corporation (NYSE:KEX) has “Buy” rating given on Monday, May 2 by BB&T Capital. Evercore downgraded it to “Hold” rating and $54 target price in Thursday, April 28 report. The stock of Kirby Corporation (NYSE:KEX) has “Neutral” rating given on Tuesday, June 21 by Credit Suisse. The rating was downgraded by Stephens on Monday, November 28 to “Equal-Weight”. The rating was upgraded by Macquarie Research on Thursday, October 1 to “Neutral”.
Kirby Corporation, incorporated on January 31, 1969, is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two divisions: Marine Transportation and Diesel Engine Services.
More important recent Kirby Corporation (NYSE:KEX) news were published by: Prnewswire.com which released: “Kirby Corporation Announces 2016 Second Quarter Results” on July 27, 2016, also Prnewswire.com published article titled: “Kirby Corporation Signs Agreement To Purchase The Inland Tank Barge Fleet Of …”, Prnewswire.com published: “Kirby Corporation Announces 2016 Third Quarter Results” on October 26, 2016. More interesting news about Kirby Corporation (NYSE:KEX) was released by: Prnewswire.com and their article: “Kirby Corporation To Attend February Transportation Conferences” with publication date: February 03, 2016.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.
By Adrian Mccoy