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Downgrade Alert for Kirby (KEX)

By James Quinn

Kirby (NYSE:KEX) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $66.62 on volume of 1.2 million shares, above average daily volume of 505,000.

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.

Kirby share prices have moved between a 52-week high of $84.05 and a 52-week low of $44.63 and closed yesterday at 49% above that low price at $66.62 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has slid 0.4%.

Potential upside of 15.6% exists for Kirby, based on a current level of $66.62 and analysts' average consensus price target of $77.00. Kirby shares have support at the 200-day moving average (MA) of $61.50 and additional support at the 50-day MA of $60.97.

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 41.5%. 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

Ticker(s): KEX