Stifel Downgrades Kirby Corporation (KEX) to Hold

Stifel analyst Benjamin Nolan downgraded Kirby Corporation (NYSE: KEX) from Buy to Hold with a price target of $84.00 (from $85.00).

The analyst comments "While we continue to believe the marine business should grow, it is being weighed down by D&S. Based on our 2021 EPS estimate which does include modest improvement, shares are already trading at 18x earnings. We expect there is a reasonable chance they can make another material acquisition in the marine segment which could drive shares higher, but at the current price, that potential is not enough to justify adding to positions in our view."

For an analyst ratings summary and ratings history on Kirby Corporation click here. For more ratings news on Kirby Corporation click here.

Shares of Kirby Corporation closed at $77.71 yesterday.

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