Barrington Research Reiterates "Outperform" Rating for Carriage Services (NYSE:CSV)

Key Points

• Barrington Research has reiterated an outperform rating for Carriage Services (NYSE:CSV) with a price objective of $50.00, suggesting an upside potential of 11.49% from the stock's last close.
• The stock opened at $44.85 and has shown a 1.2% decline recently, with a twelve-month price range between $28.78 and $47.48.
• In recent trading activity, Carriage Services President Steven D. Metzger sold 3,000 shares for a total value of $121,800, reducing his position by 3.80%.

Carriage Services (NYSE:CSV - Get Free Report)'s stock had its "outperform" rating reissued by Barrington Research in a note issued to investors on Wednesday,Benzinga reports. They presently have a $50.00 target price on the stock. Barrington Research's target price would indicate a potential upside of 10.57% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Roth Mkm reiterated a "buy" rating and issued a $51.00 price target (up previously from $48.00) on shares of Carriage Services in a research note on Friday, May 2nd.

Carriage Services Trading Up 0.7%

Carriage Services stock traded up $0.30 during mid-day trading on Wednesday, reaching $45.22. 81,082 shares of the company traded hands, compared to its average volume of 70,109. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.95 and a quick ratio of 0.80. The firm's 50 day moving average price is $45.16 and its 200 day moving average price is $41.71. The firm has a market capitalization of $709.50 million, a price-to-earnings ratio of 15.12, a P/E/G ratio of 0.95 and a beta of 0.83. Carriage Services has a 52-week low of $28.78 and a 52-week high of $47.48.

Carriage Services (NYSE:CSV - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.16. Carriage Services had a net margin of 11.50% and a return on equity of 21.96%. The business had revenue of $8.47 million for the quarter, compared to the consensus estimate of $104.17 million. On average, analysts anticipate that Carriage Services will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at Carriage Services

In other Carriage Services news, President Steven D. Metzger sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $40.60, for a total transaction of $121,800.00. Following the transaction, the president owned 75,897 shares in the company, valued at approximately $3,081,418.20. This represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carriage Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd bought a new position in Carriage Services during the 2nd quarter valued at about $259,000. Sanders Morris Harris LLC purchased a new stake in shares of Carriage Services during the 2nd quarter valued at about $229,000. Axxcess Wealth Management LLC purchased a new stake in shares of Carriage Services during the 2nd quarter valued at about $1,476,000. Inspire Investing LLC purchased a new stake in shares of Carriage Services during the 2nd quarter valued at about $878,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Carriage Services during the 2nd quarter valued at about $435,000. Institutional investors own 66.46% of the company's stock.

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.