Kirby (NYSE:KEX) stock witnessed significant insider buying activity recently. Four top executives of the company purchased KEX stock worth $2.37 million. The company provides diesel engines, reduction gears, and ancillary products for marine and power generation.
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Leading the race of insider buys was the company’s CEO David W. Grzebinski. He bought 53,983 shares of the company for a total value of $1.81 million.
Further, Dorman Lynn Strahan, President of Kirby’s subsidiary Kirby Engine Systems, also purchased 7,364 shares of the company for $262,503.
Kirby’s Vice President, General Counsel, and Secretary, Amy D. Husted, also made an insider buy transaction. She bought 9,702 shares for a total value of $181,405. Lastly, the company’s Vice President, Controller, and Assistant Secretary, Ronald A. Dragg, made an informative buy transaction of KEX stock worth $124,182.
Overall, corporate insiders have a very positive stance on Kirby. They have bought KEX shares worth $3.5 million over the last three months.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is Kirby Stock to Buy?
Based on a single Buy rating by Bank of America Securities analyst Ken Hoexter, KEX stock has a Moderate Buy consensus rating. The analyst set a price target of $77 which implies upside potential of 18.5% from the current level.
