10 Best Shipping and Container Stocks To Buy

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1. Kirby Corporation (NYSE:KEX)

Number of Hedge Fund Holders: 26

Established in 1921 and based in Houston, Texas, Kirby Corporation (NYSE:KEX) is a leading operator in the domestic tank barge industry. Its Marine Transportation segment specializes in transporting bulk liquid products, including petrochemicals, black oils, refined petroleum products, and agricultural chemicals.

Kirby Corporation (NYSE:KEX) reported a strong start to 2024, with first-quarter earnings surpassing analyst estimates. The company announced earnings per share (EPS) of $1.19, which was $0.21 higher than the consensus estimate of $0.98. Revenue for the quarter also exceeded expectations, totaling $808 million compared to the forecasted $778.55 million.

On May 21, Stifel increased the price target for Kirby Corporation (NYSE:KEX) shares to $132, up from the previous $131, maintaining a Buy rating on the stock. This adjustment followed a visit by Stifel analysts to Kirby’s Distribution and Services (D&S) business in Houston, where they focused on the power generation segment and toured the manufacturing facilities. The analysts noted that Kirby’s D&S business is often viewed as ancillary and cyclical, tied to the upstream oil and gas industry, which contrasts with the company’s core barge business.

The shipping heavyweight ranks first on our list of the best shipping and container stocks as Insider Monkey’s first-quarter database revealed that 26 hedge funds were bullish on Kirby Corporation (NYSE:KEX), down slightly from 27 in the previous quarter.

While we acknowledge the potential of Kirby Corporation (NYSE:KEX) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than DAL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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