Carriage Services (NYSE:CSV) Reaches New 12-Month High - Time to Buy?

Shares of Carriage Services, Inc. (NYSE:CSV - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $44.45 and last traded at $44.36, with a volume of 54243 shares. The stock had previously closed at $43.62.

Analyst Ratings Changes

CSV has been the subject of a number of research analyst reports. Roth Mkm reaffirmed a "buy" rating and issued a $51.00 target price (up from $48.00) on shares of Carriage Services in a report on Friday, May 2nd. Wall Street Zen upgraded Carriage Services from a "hold" rating to a "buy" rating in a report on Sunday, May 11th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $50.00 price objective on shares of Carriage Services in a report on Thursday, May 1st.

Carriage Services Stock Up 1.1%

The firm has a market capitalization of $706.95 million, a PE ratio of 20.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.88. The firm's 50-day moving average is $40.71 and its 200 day moving average is $40.13. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.59 and a current ratio of 0.72.

Carriage Services (NYSE:CSV - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.16. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The company had revenue of $8.47 million for the quarter, compared to the consensus estimate of $104.17 million. As a group, research analysts forecast that Carriage Services, Inc. will post 2.5 earnings per share for the current fiscal year.

Carriage Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 5th were given a $0.1125 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.45 annualized dividend and a dividend yield of 1.00%. Carriage Services's dividend payout ratio is currently 15.05%.

Insider Buying and Selling

In other Carriage Services news, President Steven D. Metzger sold 3,508 shares of the company's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $40.09, for a total value of $140,635.72. Following the transaction, the president now directly owns 81,389 shares in the company, valued at approximately $3,262,885.01. This represents a 4.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 9,000 shares of company stock worth $362,141. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carriage Services

Institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC raised its holdings in Carriage Services by 3.1% in the 4th quarter. MetLife Investment Management LLC now owns 8,223 shares of the company's stock valued at $328,000 after acquiring an additional 246 shares during the last quarter. Hohimer Wealth Management LLC grew its position in shares of Carriage Services by 4.1% in the first quarter. Hohimer Wealth Management LLC now owns 6,456 shares of the company's stock valued at $250,000 after purchasing an additional 255 shares during the period. Values First Advisors Inc. increased its stake in Carriage Services by 1.6% in the fourth quarter. Values First Advisors Inc. now owns 17,498 shares of the company's stock valued at $697,000 after purchasing an additional 270 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Carriage Services by 4.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,090 shares of the company's stock valued at $313,000 after purchasing an additional 312 shares during the last quarter. Finally, Versor Investments LP lifted its position in Carriage Services by 6.3% during the fourth quarter. Versor Investments LP now owns 8,387 shares of the company's stock worth $334,000 after buying an additional 500 shares during the period. Hedge funds and other 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.