Carriage Services (NYSE:CSV) Receives “Outperform” Rating from Barrington Research

Barrington Research restated their outperform rating on shares of Carriage Services (NYSE:CSV) in a research note published on Thursday morning,Benzinga reports. The firm currently has a $60.00 target price on the stock.

A number of other research firms also recently weighed in on CSV. Weiss Ratings restated a “buy (b-)” rating on shares of Carriage Services in a research note on Wednesday, October 8th. Raymond James Financial started coverage on shares of Carriage Services in a research note on Wednesday, October 1st. They issued an “outperform” rating and a $60.00 price target on the stock. Wall Street Zen downgraded shares of Carriage Services from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. B. Riley restated a “buy” rating and issued a $65.00 price target (up from $52.00) on shares of Carriage Services in a research note on Friday, August 8th. Finally, Zacks Research lowered shares of Carriage Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Carriage Services Trading Down 0.1%

Shares of Carriage Services stock opened at $45.23 on Thursday. The company has a market capitalization of $710.14 million, a price-to-earnings ratio of 13.58, a PEG ratio of 0.92 and a beta of 0.86. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.72. Carriage Services has a 12-month low of $31.70 and a 12-month high of $49.41. The firm’s 50-day moving average price is $44.48 and its two-hundred day moving average price is $43.80.

Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The firm had revenue of $102.15 million for the quarter, compared to the consensus estimate of $101.36 million. Carriage Services had a net margin of 12.85% and a return on equity of 21.63%. On average, analysts forecast that Carriage Services will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 3rd will be issued a dividend of $0.1125 per share. The ex-dividend date is Monday, November 3rd. This represents a $0.45 annualized dividend and a yield of 1.0%. Carriage Services’s dividend payout ratio (DPR) is presently 13.51%.

Insider Transactions at Carriage Services

In other Carriage Services news, VP Shane Pudenz sold 13,027 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $44.36, for a total transaction of $577,877.72. Following the completion of the transaction, the vice president owned 14,930 shares in the company, valued at approximately $662,294.80. This trade represents a 46.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Institutional Trading of Carriage Services

Hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System bought a new stake in shares of Carriage Services in the 1st quarter valued at $48,000. MQS Management LLC bought a new stake in shares of Carriage Services in the 1st quarter valued at $621,000. LPL Financial LLC increased its stake in shares of Carriage Services by 120.2% in the 1st quarter. LPL Financial LLC now owns 135,893 shares of the company’s stock valued at $5,266,000 after acquiring an additional 74,193 shares in the last quarter. LSV Asset Management increased its stake in shares of Carriage Services by 9.7% in the 1st quarter. LSV Asset Management now owns 648,417 shares of the company’s stock valued at $25,126,000 after acquiring an additional 57,500 shares in the last quarter. Finally, Maven Securities LTD bought a new stake in shares of Carriage Services in the 1st quarter valued at $1,484,000. Institutional investors own 66.46% of the company’s stock.

Carriage Services Company Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.