Wells Fargo Upgrades Kirby Corporation to Market Perform

Brokerage firm Wells Fargo Upgrades its rating on Kirby Corporation(KEX). The shares have been rated Market Perform. Previously, the analysts had a Underperform rating on the shares. The rating by Wells Fargo was issued on Feb 3, 2017.

Kirby Corporation (KEX) made into the market gainers list on Tuesdays trading session with the shares advancing 0.73% or 0.5 points. Due to strong positive momentum, the stock ended at $69, which is also near the day’s high of $69.05. The stock began the session at $68.65 and the volume stood at 6,84,436 shares. The 52-week high of the shares is $73.25 and the 52 week low is $50.5101. The company has a current market capitalization of $3,716 M and it has 5,38,55,000 shares in outstanding.

Kirby Corporation(KEX) last announced its earnings results on Feb 1, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $435.650M. Analysts had an estimated revenue of $403.520M. Earnings per share were $0.6. Analysts had estimated an EPS of $0.52.

Several Insider Transactions has been reported to the SEC. On Jun 1, 2016, Monte J Miller (director) sold 3,000 shares at $69.31 per share price.Also, 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.

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