Carriage Services (NYSE:CSV) Earns Buy (B-) Rating from Weiss Ratings

Key Points

• Carriage Services' stock received a "buy (B-)" rating from Weiss Ratings, but was downgraded by Wall Street Zen to a "hold" rating recently.
• The company's recent earnings report showed an EPS of $0.74, surpassing analyst estimates of $0.72, with revenues of $102.15 million.
• Insider trading saw VP Shane Pudenz sell 13,027 shares at an average price of $44.36, resulting in a significant decrease in their position by 46.60%.

Carriage Services (NYSE:CSV - Get Free Report)'s stock had its "buy (b-)" rating reiterated by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded Carriage Services from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Raymond James Financial began coverage on shares of Carriage Services in a research report on Wednesday, October 1st. They issued an "outperform" rating and a $60.00 target price for the company. Zacks Research lowered shares of Carriage Services from a "strong-buy" rating to a "hold" rating in a research report on Monday. B. Riley reissued a "buy" rating and issued a $65.00 price target (up from $52.00) on shares of Carriage Services in a research note on Friday, August 8th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $60.00 target price on shares of Carriage Services in a research note on Wednesday, September 10th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Carriage Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.00.

Carriage Services Trading Down 0.9%

Shares of CSV stock traded down $0.43 during trading hours on Wednesday, reaching $45.44. The company had a trading volume of 56,740 shares, compared to its average volume of 116,718. The company has a 50 day moving average of $44.92 and a 200 day moving average of $43.32. Carriage Services has a 1-year low of $30.15 and a 1-year high of $49.41. The firm has a market cap of $713.41 million, a price-to-earnings ratio of 13.65, a P/E/G ratio of 0.93 and a beta of 0.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.06 and a quick ratio of 0.90.

Carriage Services (NYSE:CSV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. Carriage Services had a return on equity of 21.63% and a net margin of 12.85%.The business had revenue of $102.15 million during the quarter, compared to analysts' expectations of $101.36 million. On average, equities research analysts anticipate that Carriage Services will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other news, VP Shane Pudenz sold 13,027 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $44.36, for a total value of $577,877.72. Following the completion of the sale, the vice president owned 14,930 shares in the company, valued at approximately $662,294.80. The trade was a 46.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Carriage Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System acquired a new stake in Carriage Services during the first quarter worth approximately $48,000. MQS Management LLC purchased a new position in shares of Carriage Services during the 1st quarter worth about $621,000. LSV Asset Management raised its holdings in Carriage Services by 9.7% in the first quarter. LSV Asset Management now owns 648,417 shares of the company's stock valued at $25,126,000 after buying an additional 57,500 shares during the period. LPL Financial LLC raised its stake in shares of Carriage Services by 120.2% during the first quarter. LPL Financial LLC now owns 135,893 shares of the company's stock valued at $5,266,000 after purchasing an additional 74,193 shares during the period. Finally, Maven Securities LTD acquired a new position in Carriage Services in the first quarter worth $1,484,000. 66.46% of the stock is owned by hedge funds and other institutional investors.

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.

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