StockNews.com Downgrades Carriage Services (NYSE:CSV) to Hold

Carriage Services (NYSE:CSV) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Barrington Research restated an “outperform” rating and issued a $50.00 price target on shares of Carriage Services in a research note on Friday, February 28th.

Carriage Services Stock Performance

Shares of CSV opened at $37.55 on Tuesday. The company’s 50 day simple moving average is $40.10 and its 200-day simple moving average is $37.34. The firm has a market cap of $587.63 million, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. Carriage Services has a 12-month low of $23.20 and a 12-month high of $42.75. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.51 by $0.11. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. The firm had revenue of $97.70 million during the quarter, compared to the consensus estimate of $96.72 million. During the same period in the prior year, the business earned $0.77 EPS. As a group, equities analysts predict that Carriage Services will post 2.5 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Carriage Services in the 4th quarter valued at $3,566,000. Kingsview Wealth Management LLC purchased a new position in shares of Carriage Services in the 3rd quarter worth $2,151,000. LSV Asset Management raised its position in shares of Carriage Services by 12.4% in the 4th quarter. LSV Asset Management now owns 590,917 shares of the company’s stock worth $23,548,000 after buying an additional 65,358 shares during the period. JPMorgan Chase & Co. boosted its holdings in Carriage Services by 94.7% in the third quarter. JPMorgan Chase & Co. now owns 118,891 shares of the company’s stock valued at $3,903,000 after acquiring an additional 57,821 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in Carriage Services during the fourth quarter valued at about $2,272,000. 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.