Barrington Research Forecasts Strong Price Appreciation for Carriage Services (NYSE:CSV) Stock

Carriage Services (NYSE:CSV) had its price objective upped by analysts at Barrington Research from $45.00 to $50.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Barrington Research’s price objective suggests a potential upside of 27.88% from the stock’s current price.

Carriage Services Price Performance

Carriage Services stock traded down $0.06 on Monday, reaching $39.10. The company’s stock had a trading volume of 10,688 shares, compared to its average volume of 48,008. The business’s fifty day moving average price is $39.18 and its 200 day moving average price is $33.71. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.59 and a current ratio of 0.72. Carriage Services has a twelve month low of $22.84 and a twelve month high of $42.13. The company has a market cap of $595.22 million, a price-to-earnings ratio of 17.53, a PEG ratio of 1.07 and a beta of 0.93.

Carriage Services (NYSE:CSV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.45 by $0.19. The business had revenue of $100.69 million for the quarter, compared to analysts’ expectations of $93.49 million. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. During the same period in the prior year, the firm earned $0.33 earnings per share. Equities analysts expect that Carriage Services will post 2.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Carriage Services

In related news, VP Paul Donald Elliott sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $37.78, for a total value of $188,900.00. Following the completion of the sale, the vice president now owns 34,166 shares in the company, valued at approximately $1,290,791.48. This represents a 12.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On Carriage Services

Institutional investors have recently modified their holdings of the stock. FMR LLC raised its holdings in Carriage Services by 46.6% in the third quarter. FMR LLC now owns 852 shares of the company’s stock worth $28,000 after purchasing an additional 271 shares during the period. Point72 DIFC Ltd grew its stake in Carriage Services by 613.0% in the second quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock valued at $50,000 after acquiring an additional 1,600 shares during the period. Point72 Asset Management L.P. increased its holdings in shares of Carriage Services by 1,074.3% in the third quarter. Point72 Asset Management L.P. now owns 4,697 shares of the company’s stock worth $154,000 after acquiring an additional 4,297 shares in the last quarter. Perritt Capital Management Inc grew its position in shares of Carriage Services by 5,001.0% in the 2nd quarter. Perritt Capital Management Inc now owns 5,101 shares of the company’s stock valued at $137,000 after purchasing an additional 5,001 shares during the period. Finally, Verition Fund Management LLC bought a new position in Carriage Services in the third quarter valued at approximately $204,000. 66.46% of the stock is currently owned by institutional investors and hedge funds.

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.