Today’s Rating Change: Kirby (NYSE:KEX)’s Is Reaching An Inflection Point; Stephens & Co. Downgrades It

November 28, 2016 - By Nellie Frank

Today's Rating Change:  Kirby (NYSE:KEX)'s Is Reaching An Inflection Point; Stephens & Co. Downgrades It

Kirby (NYSE:KEX) Downgrade

Kirby (NYSE:KEX)‘s rating was downgraded by research professionals at Stephens & Co. from a Overweight rating to a Equal-Weight rating in analysts note issued on Monday morning. The firm after the upgrade has a $68.00 TP on the stock. Stephens & Co.’s TP would suggest a potential upside of 5.59%.

Kirby Corporation (NYSE:KEX) Ratings Coverage

Out of 11 analysts covering Kirby (NYSE:KEX), 4 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 36% are positive. $90 is the highest target while $32 is the lowest. The $63.90 average target is -0.78% below today’s ($64.4) stock price. Kirby has been the topic of 17 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Seaport Global Securities initiated Kirby Corporation (NYSE:KEX) rating on Thursday, November 10. Seaport Global Securities has “Neutral” rating and $55 price target. The firm has “Outperform” rating by RBC Capital Markets given on Tuesday, September 20. The firm earned “Buy” rating on Monday, May 2 by BB&T Capital. The rating was upgraded by Macquarie Research on Thursday, October 1 to “Neutral”. RBC Capital Markets maintained the shares of KEX in a report on Friday, July 31 with “Outperform” rating. The stock of Kirby Corporation (NYSE:KEX) has “Hold” rating given on Thursday, April 28 by Evercore. Credit Suisse downgraded Kirby Corporation (NYSE:KEX) on Tuesday, June 21 to “Neutral” rating. The firm earned “Hold” rating on Wednesday, September 28 by Stifel Nicolaus. Cowen & Co maintained it with “Outperform” rating and $60 target price in Thursday, January 28 report. The stock has “Sector Perform” rating given by RBC Capital Markets on Thursday, January 28.

About 242,898 shares traded hands. Kirby Corporation (NYSE:KEX) has risen 3.84% since April 25, 2016 and is uptrending. It has underperformed by 2.17% 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 $28.02 million for 30.96 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.

Insitutional Activity: The institutional sentiment increased to 1.11 in 2016 Q2. Its up 0.05, from 1.06 in 2016Q1. The ratio increased, as 31 funds sold all Kirby Corporation shares owned while 84 reduced positions. 34 funds bought stakes while 88 increased positions. They now own 52.89 million shares or 1.20% more from 52.27 million shares in 2016Q1.

Ls Advisors Lc reported 3,322 shares or 0.01% of all its holdings. Capstone Advsrs Limited Liability accumulated 6,440 shares or 0.01% of the stock. Retirement System Of Alabama last reported 69,483 shares in the company. Diamond Hill Capital Mgmt has 0.47% invested in the company for 1.20 million shares. Tiaa Cref Mgmt Limited Liability Corp has invested 0.01% of its portfolio in Kirby Corporation (NYSE:KEX). Oregon Public Employees Retirement Fund accumulated 0.03% or 18,607 shares. Norman Fields Gottscho Cap Ltd Liability has 0.41% invested in the company for 9,475 shares. Hodges accumulated 0.59% or 195,570 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in the company for 370 shares. Wfg Advsr L P has 900 shares for 0.01% of their US portfolio. Williams Jones Assoc Limited Liability has invested 0.01% of its portfolio in Kirby Corporation (NYSE:KEX). Ny State Teachers Retirement last reported 0.02% of its portfolio in the stock. Hightower Ltd Com accumulated 18,105 shares or 0.01% of the stock. Third Avenue Mngmt Limited Liability Co reported 89,134 shares or 0.25% of all its holdings. Employees Retirement Association Of Colorado has 5,263 shares for 0% of their US portfolio.

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The company has a market cap of $3.47 billion. The Company, through its subsidiaries, operates in two divisions: Marine Transportation and Diesel Engine Services. It has a 21.74 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.

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.”

KEX Company Profile

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 notable 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 with their article: “Kirby Corporation Signs Agreement To Purchase The Inland Tank Barge Fleet Of …” published on March 08, 2016, Prnewswire.com published: “Kirby Corporation To Attend February Transportation Conferences” on February 03, 2016. More interesting news about Kirby Corporation (NYSE:KEX) were released by: Prnewswire.com and their article: “Kirby Corporation to Attend Stephens 2016 Fall Investment Conference” published on November 01, 2016 as well as Prnewswire.com‘s news article titled: “Kirby Corporation Announces 2015 Fourth Quarter And Full Year Results” with publication date: January 27, 2016.

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