Carriage Services (NYSE:CSV) Share Price Passes Below 50-Day Moving Average - Time to Sell?

Key Points

• Carriage Services (NYSE:CSV) shares fell below their 50-day moving average of $45.10, last trading at $43.08, prompting questions about potential selling.
• Analysts have mixed ratings on the stock, with Zacks upgrading to a "strong-buy" while Barrington Research set a price target of $60.00, and B. Riley raised its target to $65.00.
• The company recently reported a quarterly EPS of $0.74 against an estimate of $0.72, highlighting a strong performance with revenues of $102.15 million for the quarter.

Carriage Services, Inc. (NYSE:CSV - Get Free Report)'s share price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $45.10 and traded as low as $43.06. Carriage Services shares last traded at $43.08, with a volume of 87,718 shares.

Analysts Set New Price Targets

Several analysts recently commented on CSV shares. B. Riley reaffirmed a "buy" rating and set a $65.00 price objective (up previously from $52.00) on shares of Carriage Services in a research note on Friday, August 8th. Zacks Research raised Carriage Services to a "strong-buy" rating in a research note on Monday, August 11th. Barrington Research reissued an "outperform" rating and issued a $60.00 price target on shares of Carriage Services in a research note on Wednesday, September 10th. Finally, Wall Street Zen lowered Carriage Services from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $58.67.

Carriage Services Trading Down 1.2%

The firm has a 50 day moving average of $45.05 and a 200-day moving average of $42.63. The company has a quick ratio of 0.90, a current ratio of 1.06 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $690.08 million, a P/E ratio of 13.20, a PEG ratio of 0.88 and a beta of 0.86.

Carriage Services (NYSE:CSV - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. The company had revenue of $102.15 million during the quarter, compared to analysts' expectations of $101.36 million. Carriage Services had a return on equity of 21.63% and a net margin of 12.85%. On average, equities research analysts predict 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 Tuesday, September 2nd. Investors of record on Monday, August 4th were issued a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, August 4th. Carriage Services's dividend payout ratio is presently 13.51%.

Insiders Place Their Bets

In other Carriage Services news, VP Shane Pudenz sold 13,027 shares of the stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $44.36, for a total transaction of $577,877.72. Following the completion of the sale, the vice president directly owned 14,930 shares in the company, valued at approximately $662,294.80. This trade represents a 46.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Carriage Services

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Carriage Services by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 941,412 shares of the company's stock valued at $36,480,000 after acquiring an additional 24,138 shares in the last quarter. LSV Asset Management increased its stake in shares of Carriage Services by 9.7% during the 1st quarter. LSV Asset Management now owns 648,417 shares of the company's stock worth $25,126,000 after purchasing an additional 57,500 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Carriage Services by 12.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 477,238 shares of the company's stock valued at $21,829,000 after buying an additional 52,889 shares in the last quarter. Geode Capital Management LLC grew its stake in Carriage Services by 5.4% in the 2nd quarter. Geode Capital Management LLC now owns 350,092 shares of the company's stock valued at $16,016,000 after buying an additional 17,931 shares in the last quarter. Finally, De Lisle Partners LLP grew its position in shares of Carriage Services by 13.9% during the 2nd quarter. De Lisle Partners LLP now owns 209,777 shares of the company's stock valued at $9,600,000 after purchasing an additional 25,676 shares in the last quarter. 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.