Carriage Services (NYSE:CSV) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday, BidAskClub reports.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Carriage Services from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Monday, November 2nd. Barrington Research restated an “outperform” rating and set a $34.00 target price (up previously from $30.00) on shares of Carriage Services in a research note on Wednesday, October 28th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.00.
CSV opened at $29.71 on Friday. The company has a market cap of $533.89 million, a PE ratio of 51.23, a price-to-earnings-growth ratio of 1.05 and a beta of 0.82. The stock has a 50-day moving average of $27.52 and a 200-day moving average of $22.52. Carriage Services has a 52-week low of $13.54 and a 52-week high of $31.99. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.52 and a current ratio of 0.67.
Carriage Services (NYSE:CSV) last released its quarterly earnings results on Sunday, November 1st. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. Carriage Services had a return on equity of 12.41% and a net margin of 3.32%. The company had revenue of $84.39 million during the quarter, compared to the consensus estimate of $74.00 million. On average, research analysts predict that Carriage Services will post 1.82 earnings per share for the current year.
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In other news, CEO Melvin C. Payne purchased 29,000 shares of the business’s stock in a transaction on Wednesday, December 9th. The stock was purchased at an average price of $30.02 per share, with a total value of $870,580.00. Following the acquisition, the chief executive officer now directly owns 1,269,409 shares in the company, valued at approximately $38,107,658.18. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 11.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Penn Capital Management Co. Inc. acquired a new position in shares of Carriage Services in the 3rd quarter worth approximately $5,326,000. Heartland Advisors Inc. acquired a new position in shares of Carriage Services in the 2nd quarter worth approximately $1,812,000. Global Alpha Capital Management Ltd. raised its holdings in shares of Carriage Services by 9.1% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 1,057,498 shares of the company’s stock worth $23,593,000 after buying an additional 88,007 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of 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 in the last quarter. Finally, Mackay Shields LLC acquired a new position in shares of Carriage Services in the 2nd quarter worth approximately $634,000. 66.33% of the stock is owned by hedge funds and other institutional investors.
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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