Carriage Services’ (CSV) “Buy” Rating Reiterated at Roth Mkm

Roth Mkm reiterated their buy rating on shares of Carriage Services (NYSE:CSV) in a research report sent to investors on Friday, Benzinga reports. They currently have a $40.00 price objective on the stock, up from their prior price objective of $32.00.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Carriage Services from a buy rating to a hold rating in a research report on Wednesday, May 1st. Barrington Research reaffirmed an outperform rating and issued a $38.00 target price on shares of Carriage Services in a research note on Tuesday, May 28th.

Carriage Services Price Performance

Shares of Carriage Services stock traded down $1.29 during trading on Friday, hitting $31.10. 160,095 shares of the company’s stock traded hands, compared to its average volume of 121,851. The company has a market cap of $471.48 million, a PE ratio of 15.36, a PEG ratio of 0.92 and a beta of 0.92. Carriage Services has a twelve month low of $18.06 and a twelve month high of $35.00. The company has a debt-to-equity ratio of 2.24, a current ratio of 0.72 and a quick ratio of 0.57. The firm’s fifty day moving average price is $28.29 and its 200 day moving average price is $26.35.

Carriage Services (NYSE:CSV) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.16. The firm had revenue of $103.49 million for the quarter, compared to analyst estimates of $98.17 million. Carriage Services had a net margin of 7.47% and a return on equity of 22.52%. During the same period in the previous year, the business earned $0.56 earnings per share. Analysts forecast that Carriage Services will post 2.35 earnings per share for the current year.

Carriage Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 5th will be paid a dividend of $0.1125 per share. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Monday, August 5th. Carriage Services’s dividend payout ratio (DPR) is 22.17%.

Insider Buying and Selling

In related news, VP Shawn R. Phillips sold 10,593 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $25.57, for a total transaction of $270,863.01. Following the completion of the sale, the vice president now directly owns 113,348 shares of the company’s stock, valued at $2,898,308.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Carriage Services news, VP Shawn R. Phillips sold 10,593 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $25.57, for a total value of $270,863.01. Following the completion of the sale, the vice president now owns 113,348 shares of the company’s stock, valued at $2,898,308.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lance Kian Granmayeh sold 3,282 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $29.31, for a total transaction of $96,195.42. Following the completion of the sale, the chief financial officer now directly owns 27,880 shares of the company’s stock, valued at approximately $817,162.80. The disclosure for this sale can be found here. Insiders sold a total of 15,318 shares of company stock valued at $406,452 over the last ninety days. Insiders own 12.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Carriage Services by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,475 shares of the company’s stock valued at $284,000 after buying an additional 746 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Carriage Services by 32.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,688 shares of the company’s stock valued at $92,000 after buying an additional 897 shares during the period. FinTrust Capital Advisors LLC acquired a new position in shares of Carriage Services in the first quarter valued at approximately $27,000. nVerses Capital LLC boosted its holdings in shares of Carriage Services by 550.0% in the second quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock valued at $35,000 after buying an additional 1,100 shares during the period. Finally, Parallel Advisors LLC acquired a new position in Carriage Services during the fourth quarter worth $38,000. Institutional investors and hedge funds 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.