Carriage Services (NYSE:CSV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The brokerage currently has a $39.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 12.39% from the company’s current price.
According to Zacks, “Carriage Services, Inc. is a leading provider of death care services and products in the United States. Carriage provides a complete range of services relating to funerals, burials and cremations, including the use of funeral homes and motor vehicles, the performance of cemetery interment services and the management and maintenance of cemetery grounds. They also sell related products and merchandise including caskets, burial vaults, garments, cemetery interment rights, stone and bronze memorials, as well as other items. “
Separately, Barrington Research reissued an “outperform” rating and set a $34.00 target price (up from $30.00) on shares of Carriage Services in a research report on Wednesday, October 28th. They noted that the move was a valuation call.
Carriage Services stock traded up $0.24 during midday trading on Monday, hitting $34.70. 116,846 shares of the stock were exchanged, compared to its average volume of 100,850. Carriage Services has a 52-week low of $13.54 and a 52-week high of $36.85. The company has a quick ratio of 0.52, a current ratio of 0.67 and a debt-to-equity ratio of 1.72. The business’s 50-day moving average price is $34.19 and its 200-day moving average price is $27.52. The stock has a market capitalization of $623.56 million, a price-to-earnings ratio of 59.83, a price-to-earnings-growth ratio of 1.02 and a beta of 0.85.
Carriage Services (NYSE:CSV) last posted its earnings results on Thursday, February 18th. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The firm had revenue of $90.09 million for the quarter, compared to analysts’ expectations of $80.75 million. Carriage Services had a net margin of 3.32% and a return on equity of 12.41%. On average, sell-side analysts predict that Carriage Services will post 1.82 earnings per share for the current fiscal year.
In related news, VP Paul Donald Elliott sold 1,217 shares of the firm’s stock in a transaction that occurred on Wednesday, December 16th. The stock was sold at an average price of $29.12, for a total transaction of $35,439.04. Also, CEO Melvin C. Payne sold 1,804 shares of Carriage Services stock in a transaction that occurred on Sunday, February 14th. The stock was sold at an average price of $36.58, for a total value of $65,990.32. Following the completion of the transaction, the chief executive officer now directly owns 1,240,347 shares in the company, valued at $45,371,893.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,232 shares of company stock worth $240,727. 11.80% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of CSV. First Trust Advisors LP increased its position in shares of Carriage Services by 13.3% in the first quarter. First Trust Advisors LP now owns 30,163 shares of the company’s stock valued at $581,000 after acquiring an additional 3,548 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Carriage Services by 525.5% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,847 shares of the company’s stock valued at $86,000 after purchasing an additional 3,232 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Carriage Services by 74.5% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 90,631 shares of the company’s stock worth $2,022,000 after buying an additional 38,689 shares during the period. California Public Employees Retirement System increased its position in Carriage Services by 3.0% during the 3rd quarter. California Public Employees Retirement System now owns 37,488 shares of the company’s stock valued at $836,000 after purchasing an additional 1,100 shares during the period. Finally, Granite Point Capital Management L.P. purchased a new stake in shares of Carriage Services in the 3rd quarter worth about $446,000. Institutional investors own 70.21% of the company’s stock.
About Carriage Services
Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.
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