Carriage Services (NYSE:CSV) Hits New 12-Month High on Analyst Upgrade

Shares of Carriage Services, Inc. (NYSE:CSV) reached a new 52-week high on Thursday after Barrington Research raised their price target on the stock from $39.00 to $45.00. Barrington Research currently has an outperform rating on the stock. Carriage Services traded as high as $36.99 and last traded at $36.49, with a volume of 9060 shares. The stock had previously closed at $32.66.

Separately, Roth Mkm restated a “buy” rating and set a $40.00 price target (up from $32.00) on shares of Carriage Services in a research note on Friday, August 2nd.

Insider Buying and Selling

In related news, CEO Carlos R. Quezada bought 2,000 shares of Carriage Services stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $29.44 per share, with a total value of $58,880.00. Following the acquisition, the chief executive officer now directly owns 60,061 shares of the company’s stock, valued at $1,768,195.84. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Shawn R. Phillips sold 7,101 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $30.00, for a total value of $213,030.00. Following the sale, the vice president now owns 90,700 shares in the company, valued at approximately $2,721,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Carlos R. Quezada bought 2,000 shares of Carriage Services stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average price of $29.44 per share, with a total value of $58,880.00. Following the completion of the transaction, the chief executive officer now owns 60,061 shares of the company’s stock, valued at $1,768,195.84. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CSV. Principal Financial Group Inc. bought a new stake in Carriage Services during the third quarter valued at approximately $232,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Carriage Services during the 3rd quarter worth $4,310,000. SG Americas Securities LLC purchased a new position in Carriage Services in the third quarter worth $207,000. Point72 DIFC Ltd increased 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 last quarter. Finally, Maven Securities LTD purchased a new stake in Carriage Services during the second quarter valued at about $398,000. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Carriage Services Stock Performance

The company has a 50 day simple moving average of $32.53 and a 200-day simple moving average of $29.46. The company has a debt-to-equity ratio of 2.14, a current ratio of 0.85 and a quick ratio of 0.69. The stock has a market cap of $561.67 million, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 0.93 and a beta of 0.94.

Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, July 31st. The company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.10. Carriage Services had a return on equity of 24.11% and a net margin of 8.57%. The company had revenue of $102.32 million during the quarter, compared to the consensus estimate of $94.40 million. On average, equities analysts expect that Carriage Services, Inc. will post 2.34 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a $0.1125 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.22%. Carriage Services’s dividend payout ratio (DPR) is 20.18%.

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.