Carriage Services (NYSE:CSV) Reaches New 1-Year High – Time to Buy?

Carriage Services, Inc. (NYSE:CSV) hit a new 52-week high on Thursday . The company traded as high as $42.73 and last traded at $42.65, with a volume of 82062 shares changing hands. The stock had previously closed at $40.80.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and set a $50.00 price target on shares of Carriage Services in a research report on Monday, February 10th.

Carriage Services Price Performance

The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03. The firm’s 50-day moving average price is $40.22 and its two-hundred day moving average price is $36.17. The stock has a market cap of $625.16 million, a PE ratio of 18.42, a PEG ratio of 0.98 and a beta of 0.92.

Carriage Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.1125 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.45 dividend on an annualized basis and a yield of 1.10%. Carriage Services’s dividend payout ratio is currently 20.18%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in Carriage Services by 4.4% in the third quarter. Geode Capital Management LLC now owns 314,864 shares of the company’s stock valued at $10,339,000 after purchasing an additional 13,126 shares during the last quarter. Penn Mutual Asset Management purchased a new position in shares of Carriage Services in the 3rd quarter worth approximately $433,000. NFJ Investment Group LLC bought a new position in shares of Carriage Services during the 3rd quarter worth approximately $1,784,000. Kingsview Wealth Management LLC purchased a new stake in Carriage Services during the third quarter valued at approximately $2,151,000. Finally, Barclays PLC lifted its position in Carriage Services by 228.6% during the third quarter. Barclays PLC now owns 20,433 shares of the company’s stock valued at $671,000 after acquiring an additional 14,215 shares during the last quarter. 66.46% of the stock is currently 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 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.