Kirby Corporation (KEX) is Reiterated by Stifel to Hold, Raises Price Target to $ 54

Kirby Corporation (KEX) was Reiterated by Stifel to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 54 from a previous price target of $50 . Stifel advised their investors in a research report released on Sep 28, 2016.

Many Wall Street Analysts have commented on Kirby Corporation. Company shares were Upgraded by RBC Capital Mkts on Sep 20, 2016 to ” Outperform”, Firm has raised the Price Target to $ 68 from a previous price target of $55 .Kirby Corporation was Downgraded by Wells Fargo to ” Underperform” on Jul 25, 2016.

On the company’s financial health, Kirby Corporation reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.70. The company had revenue of $441.58 million for the quarter, compared to analysts expectations of $454.76 million. The company’s revenue was down -18.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.04 EPS.

Kirby Corporation opened for trading at $58.69 and hit $59.68 on the upside on Tuesday, eventually ending the session at $59.31, with a gain of 0.46% or 0.27 points. The heightened volatility saw the trading volume jump to 6,17,555 shares. Company has a market cap of $3,194 M.

In a different news, on Jun 1, 2016, Monte J Miller (director) sold 3,000 shares at $69.31 per share price. According to the SEC, on May 18, 2016, Amy D. Husted (Vice President – Legal) sold 500 shares at $69.25 per share price. On May 11, 2016, James F. Farley (VP – Industry Relations) sold 1,500 shares at $63.73 per share price, according to the Form-4 filing with the securities and exchange commission.

Kirby Corporation is the domestic tank barge operator transporting bulk liquid products. The Company through its subsidiaries operates in two segments: Marine Transportation and Diesel Engine Services. The Marine Transportation segment is a provider of marine transportation services operating tank barges and towing vessels transporting bulk liquid products. The Diesel Engine Services segment sells replacement parts provides service mechanics to overhaul and repair medium-speed and high-speed diesel engines transmissions reduction gears pumps and compression products maintains facilities to rebuild component parts or entire medium-speed and high-speed diesel engines transmissions and entire reduction gears and manufactures and remanufactures oilfield service equipment including pressure pumping units. Its customers include oil service companies offshore fishing companies nuclear power industry compression companies and construction companies among others.

Kirby Corporation

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