Carriage Services (NYSE:CSV) Given New $60.00 Price Target at Barrington Research

Key Points

• Barrington Research has raised its price target for Carriage Services from $50.00 to $60.00, reflecting a potential upside of 25.06% from the current stock price.
• Despite this upgrade, Wall Street Zen downgraded the stock from a "buy" rating to a "hold" rating, indicating mixed sentiments among analysts.
• Carriage Services reported $0.74 earnings per share for the last quarter, surpassing expectations and contributing to a revenue of $102.15 million compared to analyst estimates.

Carriage Services (NYSE:CSV - Get Free Report) had its target price boosted by Barrington Research from $50.00 to $60.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Barrington Research's target price indicates a potential upside of 25.06% from the company's previous close.

Several other research firms also recently commented on CSV. Wall Street Zen downgraded shares of Carriage Services from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Roth Mkm reiterated a "buy" rating and issued a $51.00 target price (up from $48.00) on shares of Carriage Services in a research note on Friday, May 2nd.

Carriage Services Trading Up 3.8%

NYSE CSV traded up $1.77 during trading on Thursday, hitting $47.98. The company had a trading volume of 203,697 shares, compared to its average volume of 113,064. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 2.35. The company's fifty day moving average is $45.33 and its 200-day moving average is $41.81. The company has a market cap of $752.92 million, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 0.96 and a beta of 0.83. Carriage Services has a one year low of $29.21 and a one year high of $48.41.

Carriage Services (NYSE:CSV - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. Carriage Services had a net margin of 11.50% and a return on equity of 21.96%. The company had revenue of $102.15 million during the quarter, compared to analyst estimates of $101.36 million. On average, sell-side analysts predict that Carriage Services will post 2.5 earnings per share for the current year.

Hedge Funds Weigh In On Carriage Services

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp grew its position in Carriage Services by 1,736.0% in the 1st quarter. Jones Financial Companies Lllp now owns 918 shares of the company's stock valued at $36,000 after buying an additional 868 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Carriage Services in the 4th quarter valued at $45,000. New York State Teachers Retirement System purchased a new position in Carriage Services in the 1st quarter valued at $48,000. Simplex Trading LLC boosted its position in shares of Carriage Services by 408.7% during the 2nd quarter. Simplex Trading LLC now owns 1,526 shares of the company's stock worth $69,000 after purchasing an additional 1,226 shares in the last quarter. Finally, US Bancorp DE purchased a new stake in shares of Carriage Services during the 1st quarter worth $93,000. 66.46% of the stock is currently owned by hedge funds and other institutional investors.

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.

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