Downgrade Alert for Kirby (KEX)
Kirby (NYSE:KEX) was downgraded from Buy to Hold at Evercore ISI today. The stock closed yesterday at $64.03 on volume of 1.2 million shares, above average daily volume of 472,000.
There is potential upside of 20.3% for shares of Kirby based on a current price of $64.03 and an average consensus analyst price target of $77.00. The stock should find initial support at its 200-day moving average (MA) of $61.80 and further support at its 50-day MA of $60.12.
In the past 52 weeks, Kirby share prices have been bracketed by a low of $44.63 and a high of $84.05 and closed yesterday at $64.03, 43% above that low price. The 200-day and 50-day moving averages have moved 0.41% lower and 1.38% higher over the past week, respectively.
Kirby Corporation operates a fleet of inland tank barges. The Company transports industrial chemicals, refined petroleum products, black oil products, and agricultural chemicals. Kirby also overhauls and services diesel engines employed in marine, power generation, and rail applications.
SmarTrend recommended that subscribers consider buying shares of Kirby on January 21st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $49.33. Since that recommendation, shares of Kirby have risen 32.2%. We continue to monitor KEX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades kirby