Zacks Investment Research Downgrades StoneMor Partners L.P. (STON) to Strong Sell

StoneMor Partners L.P. (NYSE:STON) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.

According to Zacks, “StoneMor Partners L.P., headquartered in Levittown, Pennsylvania, is an owner and operator of cemeteries and funeral homes in the United States, with 224 cemeteries and 57 funeral homes in 27 states and Puerto Rico. StoneMor is the only publicly traded deathcare company structured as a partnership. StoneMor’s cemetery products and services, which are sold on both a pre-need (before death) and at-need (at death) basis, include: burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise. “

Separately, Raymond James Financial Inc. raised StoneMor Partners L.P. from an “outperform” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a report on Thursday, August 25th.

StoneMor Partners L.P. (NYSE:STON) opened at 24.78 on Wednesday. The company’s 50-day moving average price is $24.90 and its 200 day moving average price is $24.70. StoneMor Partners L.P. has a one year low of $22.80 and a one year high of $31.15. The firm’s market capitalization is $878.18 million.

StoneMor Partners L.P. (NYSE:STON) last announced its quarterly earnings results on Friday, August 5th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.18. The firm earned $75.55 million during the quarter, compared to analyst estimates of $88.30 million. During the same quarter last year, the firm earned ($0.16) EPS. On average, analysts forecast that StoneMor Partners L.P. will post ($0.67) earnings per share for the current year.

In other StoneMor Partners L.P. news, CFO Sean P. Mcgrath sold 1,262 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $24.92, for a total transaction of $31,449.04. Following the completion of the transaction, the chief financial officer now directly owns 3,774 shares of the company’s stock, valued at approximately $94,048.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Several large investors have recently added to or reduced their stakes in STON. Nicholas Co. Inc. WI raised its stake in StoneMor Partners L.P. by 14.8% in the second quarter. Nicholas Co. Inc. WI now owns 310,165 shares of the company’s stock valued at $7,769,000 after buying an additional 40,000 shares in the last quarter. Stifel Financial Corp bought a new stake in StoneMor Partners L.P. during the second quarter valued at $831,000. Global X Management Co. LLC raised its stake in StoneMor Partners L.P. by 10.9% in the second quarter. Global X Management Co. LLC now owns 214,353 shares of the company’s stock valued at $5,370,000 after buying an additional 21,124 shares in the last quarter. JPMorgan Chase & Co. raised its stake in StoneMor Partners L.P. by 20.4% in the second quarter. JPMorgan Chase & Co. now owns 119,182 shares of the company’s stock valued at $2,985,000 after buying an additional 20,230 shares in the last quarter. Finally, LPL Financial LLC raised its stake in StoneMor Partners L.P. by 27.0% in the first quarter. LPL Financial LLC now owns 80,536 shares of the company’s stock valued at $1,967,000 after buying an additional 17,115 shares in the last quarter.

About StoneMor Partners L.P.

StoneMor Partners L.P. owns and operates cemeteries and funeral homes. The Company operates through two segments: Cemetery Operations and Funeral Homes. Its Cemetery Operations segment sells interment rights, caskets, burial vaults, cremation niches, markers and other cemetery related merchandise. Its Funeral Homes segment offers a range of services, including family consultation, final expense insurance products, the removal and preparation of remains, provision of caskets and related funeral merchandise, the use of funeral home facilities for visitation, worship and performance of funeral services, and transportation services.

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