Could Kirby Corporation (KEX) Decrease Even More? The Stock Formed Bearish Wedge Down Pattern

Investors sentiment increased to 1.03 in Q1 2019. Its up 0.16, from 0.87 in 2018Q4. It improved, as 13 investors sold Kirby Corporation shares while 76 reduced holdings. 30 funds opened positions while 62 raised stakes. 56.52 million shares or 2.12% less from 57.75 million shares in 2018Q4 were reported.
Aperio Group Limited Liability Com invested 0.01% in Kirby Corporation (NYSE:KEX). Us Bank De invested in 0% or 1,688 shares. Swiss Fincl Bank holds 0% or 27,257 shares. Guggenheim Ltd Liability holds 0.03% of its portfolio in Kirby Corporation (NYSE:KEX) for 47,509 shares. 555,899 were accumulated by Price T Rowe Assoc Incorporated Md. Fruth Investment Mgmt invested 0.73% in Kirby Corporation (NYSE:KEX). Baillie Gifford And Co reported 7.71 million shares. Arrowmark Colorado Ltd Liability has invested 1.92% in Kirby Corporation (NYSE:KEX). Voya Investment Mngmt Ltd Company accumulated 11,624 shares or 0% of the stock. The California-based Shelton Capital Mgmt has invested 0.01% in Kirby Corporation (NYSE:KEX). Proshare Advsrs Lc stated it has 0% of its portfolio in Kirby Corporation (NYSE:KEX). Globeflex Capital Limited Partnership has 3,162 shares for 0.05% of their portfolio. Tygh Mngmt Incorporated reported 1.72% of its portfolio in Kirby Corporation (NYSE:KEX). Public Employees Retirement Of Ohio owns 0.03% invested in Kirby Corporation (NYSE:KEX) for 77,219 shares. 21,489 are held by Oregon Public Employees Retirement Fund.

The stock of Kirby Corporation (KEX) formed a down wedge with $65.59 target or 8.00 % below today’s $71.29 share price. The 7 months wedge indicates high risk for the $4.27B company. If the $65.59 price target is reached, the company will be worth $341.60M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 3.53% or $2.61 during the last trading session, reaching $71.29. About 315,556 shares traded. Kirby Corporation (NYSE:KEX) has declined 4.85% since August 14, 2018 and is downtrending. It has underperformed by 4.85% the S&P500.

Analysts await Kirby Corporation (NYSE:KEX) to report earnings on October, 24. They expect $0.89 earnings per share, up 27.14 % or $0.19 from last year’s $0.7 per share. KEX’s profit will be $53.31M for 20.03 P/E if the $0.89 EPS becomes a reality. After $0.79 actual earnings per share reported by Kirby Corporation for the previous quarter, Wall Street now forecasts 12.66 % EPS growth.

More notable recent Kirby Corporation (NYSE:KEX) news were published by: Finance.Yahoo.com which released: “Here is What Hedge Funds Think About Virtu Financial Inc (VIRT) – Yahoo Finance” on June 24, 2019, also Seekingalpha.com with their article: “Kirby Corporation 2019 Q2 – Results – Earnings Call Slides – Seeking Alpha” published on July 26, 2019, Finance.Yahoo.com published: “Is There Now An Opportunity In Kirby Corporation (NYSE:KEX)? – Yahoo Finance” on May 06, 2019. More interesting news about Kirby Corporation (NYSE:KEX) were released by: Globenewswire.com and their article: “Kirby Corporation Announces 2018 Fourth Quarter/Full Year Results and Signs Agreement to Purchase the Marine Transportation Fleet of Cenac Marine Services, LLC – GlobeNewswire” published on January 31, 2019 as well as Seekingalpha.com‘s news article titled: “Kirby Q2 2019 Earnings Preview – Seeking Alpha” with publication date: July 24, 2019.

Kirby Corporation operates domestic tank barges in the United States. The company has market cap of $4.27 billion. The company's Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii. It has a 39.24 P/E ratio. This segment transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals by tank barges.

Kirby Corporation (NYSE:KEX) Institutional Positions Chart

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