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 boosted their price target on shares of Carriage Services from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, September 22nd.
Shares of Carriage Services (NYSE:CSV) traded down 0.08% during mid-day trading on Monday, hitting $23.63. The stock had a trading volume of 37,663 shares. Carriage Services has a 52 week low of $19.03 and a 52 week high of $25.96. The stock has a 50-day moving average price of $23.52 and a 200 day moving average price of $23.15. The stock has a market cap of $393.25 million, a P/E ratio of 21.12 and a beta of 0.85.
Carriage Services (NYSE:CSV) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by $0.02. Carriage Services had a net margin of 8.01% and a return on equity of 16.56%. The company had revenue of $61.87 million for the quarter, compared to analysts’ expectations of $61.34 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts forecast that Carriage Services will post $1.70 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in 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 last quarter. Renaissance Technologies LLC raised its stake in 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 last quarter. Bank of Montreal Can acquired a new stake in Carriage Services during the second quarter valued at about $8,829,000. State Street Corp raised its stake in 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 last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in 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 last quarter. 77.51% of the stock is 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Carriage Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carriage Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.