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Downgrade Alert for Kirby (KEX)

By Nick Russo

Kirby (NYSE:KEX) was downgraded from Mixed to Negative at OTR Global today. The stock closed yesterday at $62.39 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.

Over the past year, Kirby has traded in a range of $44.63 to $84.05 and closed yesterday at $62.39, 40% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.1%.

Kirby (NYSE:KEX) has potential upside of 23.4% based on a current price of $62.39 and analysts' consensus price target of $77.00. The stock should find initial support at its 200-day moving average (MA) of $61.50 and further support at its 50-day MA of $60.97.

SmarTrend is monitoring the recent change of momentum in Kirby. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Kirby in search of a potential trend change.

Keywords: analyst upgrades/downgrades kirby

Ticker(s): KEX