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Water-Logged And Getting Wetter: Kirby (KEX)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Kirby ( KEX) as a "water-logged and getting wetter" (weak stocks crossing below support with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified Kirby as such a stock due to the following factors:

  • KEX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $42.6 million.
  • KEX has traded 326,951 shares today.
  • KEX traded in a range 226.7% of the normal price range with a price range of $4.72.
  • KEX traded below its daily resistance level (quality: 40 days, meaning that the stock is crossing a resistance level set by the last 40 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Water-Logged and Getting Wetter' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying negative price action. In this case, the stock crossed an important inflection point; namely, "support" while at the same time the range of the stock's movement in price is twice its normal size. This large range foreshadows a possible continuation as the stock moves lower.

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More details on KEX:

Kirby Corporation, through its subsidiaries, provides marine transportation and diesel engine services primarily in the United States. Its Marine Transportation segment provides transportation services for the inland and coastal markets. KEX has a PE ratio of 23.8. Currently there are 6 analysts that rate Kirby a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for Kirby has been 458,400 shares per day over the past 30 days. Kirby has a market cap of $5.8 billion and is part of the services sector and transportation industry. The stock has a beta of 1.08 and a short float of 5.6% with 7.02 days to cover. Shares are up 3.3% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Kirby as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

Highlights from the ratings report include:

  • KEX's revenue growth has slightly outpaced the industry average of 9.6%. Since the same quarter one year prior, revenues rose by 10.9%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • The current debt-to-equity ratio, 0.37, is low and is below the industry average, implying that there has been successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.04, which illustrates the ability to avoid short-term cash problems.
  • KIRBY CORP has improved earnings per share by 9.7% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, KIRBY CORP increased its bottom line by earning $4.45 versus $3.74 in the prior year. This year, the market expects an improvement in earnings ($4.93 versus $4.45).
  • Net operating cash flow has significantly increased by 89.07% to $150.32 million when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 70.00%.
  • 35.11% is the gross profit margin for KIRBY CORP which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of 11.30% trails the industry average.

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