Carriage Services (NYSE:CSV) Sets New 12-Month High at $39.67

Carriage Services, Inc. (NYSE:CSV)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $39.67 and last traded at $39.67, with a volume of 104 shares changing hands. The stock had previously closed at $38.72.

Several analysts have weighed in on the company. Zacks Investment Research raised Carriage Services from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday, April 27th. Barrington Research lifted their price objective on Carriage Services from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, April 22nd. They noted that the move was a valuation call. Roth Capital started coverage on Carriage Services in a research report on Wednesday, May 5th. They issued a “buy” rating and a $48.00 price target on the stock. Finally, B. Riley started coverage on Carriage Services in a research report on Wednesday. They issued a “buy” rating and a $50.00 price target on the stock. Four research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $46.50.

The company has a quick ratio of 0.54, a current ratio of 0.68 and a debt-to-equity ratio of 1.71. The company has a 50-day moving average of $37.33. The company has a market capitalization of $682.58 million, a PE ratio of 20.55, a P/E/G ratio of 1.03 and a beta of 0.83.

Carriage Services (NYSE:CSV) last released its quarterly earnings data on Tuesday, April 20th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.22. Carriage Services had a return on equity of 17.73% and a net margin of 9.53%. On average, equities analysts predict that Carriage Services, Inc. will post 2.5 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Monday, May 10th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 7th. This represents a $0.40 annualized dividend and a yield of 1.06%. Carriage Services’s dividend payout ratio (DPR) is presently 21.51%.

In related news, VP Christopher Manceaux bought 842 shares of the firm’s stock in a transaction on Tuesday, March 23rd. The stock was acquired at an average cost of $35.86 per share, for a total transaction of $30,194.12. Following the purchase, the vice president now owns 10,496 shares in the company, valued at $376,386.56. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, SVP Shawn R. Phillips bought 1,000 shares of the firm’s stock in a transaction on Thursday, March 18th. The shares were bought at an average price of $36.20 per share, with a total value of $36,200.00. Following the completion of the purchase, the senior vice president now owns 78,553 shares in the company, valued at approximately $2,843,618.60. The disclosure for this purchase can be found here. Insiders purchased a total of 5,342 shares of company stock worth $197,054 over the last ninety days. 11.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. purchased a new stake in Carriage Services during the 1st quarter valued at $240,000. Millennium Management LLC raised its stake in Carriage Services by 366.6% during the 1st quarter. Millennium Management LLC now owns 37,441 shares of the company’s stock valued at $1,318,000 after buying an additional 29,417 shares during the last quarter. Morgan Stanley raised its stake in Carriage Services by 44.3% during the 1st quarter. Morgan Stanley now owns 97,153 shares of the company’s stock valued at $3,418,000 after buying an additional 29,837 shares during the last quarter. Jane Street Group LLC purchased a new stake in Carriage Services during the 1st quarter valued at $235,000. Finally, Point72 Hong Kong Ltd raised its stake in Carriage Services by 8,605.6% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,567 shares of the company’s stock valued at $55,000 after buying an additional 1,549 shares during the last quarter. Institutional investors and hedge funds own 75.20% of the company’s stock.

Carriage Services Company Profile (NYSE:CSV)

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 engages in the provision of consultation, funeral home facilities for visitation and memorial services, and transportation services; removal and preparation of remains; and sale of caskets and related funeral merchandise.

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