By otakuyassine3@gmail.com 
Kirby Co. (NYSE:KEX – Get Free Report) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 599,900 shares, a decrease of 16.3% from the November 30th total of 716,800 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 486,800 shares, the days-to-cover ratio is currently 1.2 days.
Kirby Stock Performance
Shares of KEX traded down $0.51 during mid-day trading on Friday, reaching $105.98. The company’s stock had a trading volume of 382,956 shares, compared to its average volume of 469,169. The business has a 50-day simple moving average of $120.37 and a two-hundred day simple moving average of $119.96. Kirby has a 1-year low of $74.88 and a 1-year high of $132.21. The stock has a market cap of $6.08 billion, a P/E ratio of 20.34, a PEG ratio of 0.69 and a beta of 1.18. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.
Kirby (NYSE:KEX – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. Kirby’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. As a group, equities research analysts anticipate that Kirby will post 5.45 earnings per share for the current fiscal year.
Insider Transactions at Kirby
In related news, VP Ronald A. Dragg sold 2,313 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the sale, the vice president now directly owns 7,683 shares of the company’s stock, valued at approximately $978,045.90. This represents a 23.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Christian G. O’neil sold 15,041 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the completion of the sale, the chief operating officer now owns 7,746 shares in the company, valued at approximately $1,006,980. The trade was a 66.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,354 shares of company stock valued at $3,275,455. 1.50% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Kirby
Several institutional investors have recently made changes to their positions in the stock. Quest Partners LLC boosted its position in shares of Kirby by 0.7% during the third quarter. Quest Partners LLC now owns 12,462 shares of the shipping company’s stock valued at $1,526,000 after buying an additional 89 shares during the last quarter. Americana Partners LLC lifted its holdings in Kirby by 2.1% during the 3rd quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock worth $600,000 after purchasing an additional 100 shares in the last quarter. Huntington National Bank grew its stake in Kirby by 8.5% during the third quarter. Huntington National Bank now owns 1,668 shares of the shipping company’s stock valued at $204,000 after acquiring an additional 130 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Kirby by 3.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company’s stock valued at $523,000 after buying an additional 133 shares during the period. Finally, Creative Planning increased its holdings in shares of Kirby by 2.2% in the 3rd quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock worth $818,000 after buying an additional 147 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.
Analyst Ratings Changes
Separately, StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.80.
Read Our Latest Stock Analysis on KEX
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.
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