Wells Fargo Believes Kirby (NYSE: KEX) Won’t Stop Here


In a report released today, Michael Webber from Wells Fargo maintained a Buy rating on Kirby (NYSE: KEX), with a price target of $100. The company’s shares closed yesterday at $85.30, close to its 52-week high of $89.25.

According to TipRanks.com, Webber is ranked #2083 out of 4772 analysts.

Currently, the analyst consensus on Kirby is Moderate Buy and the average price target is $94.33, representing a 10.6% upside.

In a report issued on April 27, Stifel Nicolaus also maintained a Buy rating on the stock with a $94 price target.

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Based on Kirby’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $742 million and quarterly net profit of $32.47 million. In comparison, last year the company earned revenue of $492 million and had a net profit of $27.29 million.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock.

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Kirby Corp. engages in the provision of diesel engines, reduction gears and ancillary products for marine and power generation applications. It operates through the Marine Transportation and Diesel Engine Services segments.

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