Barrington Research Increases Carriage Services (NYSE:CSV) Price Target to $50.00

Carriage Services (NYSE:CSV) had its price objective lifted by analysts at Barrington Research from $45.00 to $50.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price objective would suggest a potential upside of 27.88% from the stock’s previous close.

Carriage Services Stock Down 0.2 %

Carriage Services stock traded down $0.06 during mid-day trading 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 50 day simple moving average is $39.18 and its 200 day simple moving average is $33.71. Carriage Services has a 12 month low of $22.84 and a 12 month high of $42.13. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.59 and a current ratio of 0.72. The company has a market capitalization of $595.22 million, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93.

Carriage Services (NYSE:CSV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.19. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. The company had revenue of $100.69 million for the quarter, compared to analysts’ expectations of $93.49 million. During the same quarter in the prior year, the business posted $0.33 EPS. As a group, research analysts anticipate that Carriage Services will post 2.5 earnings per share for the current year.

Insider Transactions at Carriage Services

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

Institutional Trading of Carriage Services

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Carriage Services by 46.6% during the 3rd quarter. FMR LLC now owns 852 shares of the company’s stock valued at $28,000 after purchasing an additional 271 shares during the last quarter. Point72 DIFC Ltd boosted its position in Carriage Services by 613.0% during the 2nd quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock worth $50,000 after buying an additional 1,600 shares during the period. Point72 Asset Management L.P. increased its position in Carriage Services by 1,074.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,697 shares of the company’s stock valued at $154,000 after acquiring an additional 4,297 shares during the period. Perritt Capital Management Inc lifted its holdings in shares of Carriage Services by 5,001.0% during the second quarter. Perritt Capital Management Inc now owns 5,101 shares of the company’s stock worth $137,000 after purchasing an additional 5,001 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in Carriage Services in the third quarter valued at $204,000. 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.