Could Kirby Corporation (KEX) Change Direction After Achieving 52-Week High?

May 17, 2018 - By Kristen Paramore

Investors sentiment increased to 1.05 in Q4 2017. Its up 0.01, from 1.04 in 2017Q3. It improved, as 26 investors sold Kirby Corporation shares while 69 reduced holdings. 27 funds opened positions while 73 raised stakes. 54.86 million shares or 2.77% less from 56.43 million shares in 2017Q3 were reported.
449,883 were accumulated by Geode Management Lc. First Manhattan holds 0% in Kirby Corporation (NYSE:KEX) or 11,000 shares. Rhumbline Advisers has invested 0.01% in Kirby Corporation (NYSE:KEX). Regions Fincl Corporation holds 250 shares. Retirement Of Alabama reported 69,472 shares. Moreover, Shelton Capital has 0.02% invested in Kirby Corporation (NYSE:KEX). Hightower Advisors Lc reported 19,952 shares stake. Hsbc Public Limited stated it has 0% in Kirby Corporation (NYSE:KEX). Aureus Asset Management Lc holds 7,384 shares or 0.08% of its portfolio. Balyasny Asset Management accumulated 10,636 shares or 0% of the stock. Moreover, Sei Invs has 0.01% invested in Kirby Corporation (NYSE:KEX). California Public Employees Retirement System invested in 123,320 shares. Cwm Ltd Liability Co has invested 0% in Kirby Corporation (NYSE:KEX). Mason Street Advisors Limited Liability Co holds 0.04% or 26,470 shares. Moreover, Proshare Advsrs Ltd Liability has 0% invested in Kirby Corporation (NYSE:KEX).

Since February 5, 2018, it had 0 insider purchases, and 8 selling transactions for $14.68 million activity. Castro Renato A sold $88,937 worth of stock or 986 shares. 1,665 shares valued at $124,142 were sold by STRAHAN DORMAN LYNN on Tuesday, February 13. Miller Monte J sold $180,106 worth of stock. Another trade for 930 shares valued at $79,696 was made by DRAGG RONALD A on Tuesday, May 1. The insider Mosley David R sold $417,769. PYNE J H sold $12.19 million worth of Kirby Corporation (NYSE:KEX) on Friday, May 4.

The stock of Kirby Corporation (NYSE:KEX) hit a new 52-week high and has $98.43 target or 9.00 % above today’s $90.30 share price. The 8 months bullish chart indicates low risk for the $5.39B company. The 1-year high was reported on May, 17 by Barchart.com. If the $98.43 price target is reached, the company will be worth $485.19 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock decreased 0.17% or $0.15 during the last trading session, reaching $90.3. About 177,362 shares traded. Kirby Corporation (NYSE:KEX) has risen 11.73% since May 17, 2017 and is uptrending. It has outperformed by 0.18% the S&P500.

Analysts await Kirby Corporation (NYSE:KEX) to report earnings on July, 25. They expect $0.71 EPS, up 47.92 % or $0.23 from last year’s $0.48 per share. KEX’s profit will be $42.39 million for 31.80 P/E if the $0.71 EPS becomes a reality. After $0.67 actual EPS reported by Kirby Corporation for the previous quarter, Wall Street now forecasts 5.97 % EPS growth.

Kirby Corporation (NYSE:KEX) Ratings Coverage

Among 7 analysts covering Kirby (NYSE:KEX), 4 have Buy rating, 1 Sell and 2 Hold. Therefore 57% are positive. Kirby had 11 analyst reports since December 18, 2017 according to SRatingsIntel. Jefferies initiated Kirby Corporation (NYSE:KEX) on Monday, December 18 with “Buy” rating. The stock has “Hold” rating by Stephens on Monday, January 8. On Monday, January 22 the stock rating was upgraded by Wells Fargo to “Buy”. The stock of Kirby Corporation (NYSE:KEX) earned “Hold” rating by Gabelli on Tuesday, January 16. The firm has “Buy” rating by Jefferies given on Thursday, February 1. The company was maintained on Thursday, April 5 by Stifel Nicolaus. The stock has “Outperform” rating by Evercore on Friday, February 2. Stifel Nicolaus maintained Kirby Corporation (NYSE:KEX) rating on Friday, April 27. Stifel Nicolaus has “Buy” rating and $94 target. As per Friday, February 2, the company rating was maintained by Stephens. The firm earned “Outperform” rating on Tuesday, May 1 by Wells Fargo.

Another recent and important Kirby Corporation (NYSE:KEX) news was published by Seekingalpha.com which published an article titled: “Kirby’s Recovery Prospects No Longer Undervalued” on May 09, 2018.

Kirby Corporation operates domestic tank barges in the United States. The company has market cap of $5.39 billion. The company's Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii. It has a 16.08 P/E ratio. This segment transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals by tank barges.

Kirby Corporation (NYSE:KEX) Institutional Positions Chart

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.




Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our free daily email newsletter: