Carriage Services Inc. (CSV) Upgraded to Hold at Zacks Investment Research
Carriage Services Inc. (NYSE:CSV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Carriage Services, Inc. is a leading provider of death care services and products in the United States. Carriage provides a complete range of services relating to funerals, burials and cremations, including the use of funeral homes and motor vehicles, the performance of cemetery interment services and the management and maintenance of cemetery grounds. They also sell related products and merchandise including caskets, burial vaults, garments, cemetery interment rights, stone and bronze memorials, as well as other items. “
Separately, Barrington Research raised their price objective on Carriage Services from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, September 22nd.
Carriage Services (NYSE:CSV) traded down 0.08% on Monday, reaching $23.63. The company had a trading volume of 37,663 shares. The stock has a market capitalization of $393.25 million, a P/E ratio of 21.12 and a beta of 0.85. The firm has a 50-day moving average of $23.52 and a 200-day moving average of $23.15. Carriage Services has a 12 month low of $19.03 and a 12 month high of $25.96.
Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by $0.02. Carriage Services had a return on equity of 16.56% and a net margin of 8.01%. The business had revenue of $61.87 million for the quarter, compared to analyst estimates of $61.34 million. During the same quarter last year, the business earned $0.34 EPS. Carriage Services’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities research analysts expect that Carriage Services will post $1.70 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Carriage Services by 94.3% in the second quarter. Royal Bank of Canada now owns 920,245 shares of the company’s stock valued at $21,792,000 after buying an additional 446,527 shares during the period. Renaissance Technologies LLC raised its position in shares of Carriage Services by 9.4% in the first quarter. Renaissance Technologies LLC now owns 757,740 shares of the company’s stock valued at $16,375,000 after buying an additional 65,240 shares during the period. Bank of Montreal Can purchased a new position in shares of Carriage Services during the second quarter valued at $8,829,000. State Street Corp raised its position in shares of Carriage Services by 1.0% in the second quarter. State Street Corp now owns 259,970 shares of the company’s stock valued at $6,159,000 after buying an additional 2,536 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in shares of Carriage Services by 5.1% in the second quarter. Stratos Wealth Partners LTD. now owns 156,625 shares of the company’s stock valued at $3,709,000 after buying an additional 7,659 shares during the period. 77.51% of the stock is currently owned by institutional investors and hedge funds.
About Carriage Services
Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
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