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Upgrade Alert for Kirby (KEX)

By David Diaz

Kirby (NYSE:KEX) was upgraded from Hold to Buy at BB&T Capital today. The stock closed yesterday at $64.89 on volume of 713,000 shares, above average daily volume of 492,000.

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 45% above that low price at $64.89 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.9%.

Kirby has overhead space with shares priced $64.89, or 15.7% below the average consensus analyst price target of $77.00. Kirby shares have support at the 200-day moving average (MA) of $61.68 and additional support at the 50-day MA of $60.50.

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 29.4%. 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