Carriage Services (NYSE:CSV) Price Target Raised to $50.00

Carriage Services (NYSE:CSV) had its target price lifted by Barrington Research from $45.00 to $50.00 in a research report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Carriage Services Stock Up 0.9 %

Shares of Carriage Services stock opened at $39.28 on Monday. 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 has a 52-week low of $22.84 and a 52-week high of $42.13. The company’s 50 day moving average price is $39.57 and its 200-day moving average price is $33.92. The stock has a market capitalization of $597.96 million, a price-to-earnings ratio of 17.61, a P/E/G ratio of 1.07 and a beta of 0.93.

Carriage Services (NYSE:CSV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.19. The business had revenue of $100.69 million for the quarter, compared to analyst estimates of $93.49 million. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. During the same quarter last year, the firm earned $0.33 EPS. Equities research analysts forecast that Carriage Services will post 2.5 EPS for the current year.

Carriage Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 4th were issued a $0.1125 dividend. This represents a $0.45 annualized dividend and a yield of 1.15%. The ex-dividend date was Monday, November 4th. Carriage Services’s dividend payout ratio (DPR) is currently 20.18%.

Insider Transactions at Carriage Services

In other Carriage Services news, VP Paul Donald Elliott sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $37.78, for a total value of $188,900.00. Following the completion of the transaction, the vice president now directly owns 34,166 shares in the company, valued at approximately $1,290,791.48. This represents a 12.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On Carriage Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC boosted its position in Carriage Services by 46.6% during the 3rd quarter. FMR LLC now owns 852 shares of the company’s stock valued at $28,000 after acquiring an additional 271 shares in the last quarter. Point72 DIFC Ltd lifted its stake in shares of Carriage Services by 613.0% in the 2nd quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock valued at $50,000 after purchasing an additional 1,600 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Carriage Services by 1,074.3% during the third quarter. Point72 Asset Management L.P. now owns 4,697 shares of the company’s stock valued at $154,000 after purchasing an additional 4,297 shares in the last quarter. Perritt Capital Management Inc grew its stake in Carriage Services by 5,001.0% in the second quarter. Perritt Capital Management Inc now owns 5,101 shares of the company’s stock worth $137,000 after purchasing an additional 5,001 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in Carriage Services in the third quarter worth $204,000. 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.