These shares are up about 3% since my last update; not a great performance, but not bad relative to the average industrial or transportation company (Kirby doesn’t have any good direct comps), and Kirby has actually outperformed oil since that last update (Kirby shares and oil often trade together, given Kirby’s reliance on oil and oil-based refined products). While I do see some clouds on the horizon with the economy, the valuation is still reasonable for a company that has in the past enjoyed a robust premium.
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