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

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

Carriage Services Stock Performance

NYSE CSV opened at $39.28 on Monday. The company’s 50 day simple moving average is $39.57 and its two-hundred day simple moving average is $33.92. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59. Carriage Services has a 1 year low of $22.84 and a 1 year high of $42.13. The stock has a market capitalization of $597.96 million, a PE ratio of 17.61, a P/E/G ratio of 1.07 and a beta of 0.93.

Carriage Services (NYSE:CSV) last issued its quarterly earnings data 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. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. The company had revenue of $100.69 million for the quarter, compared to the consensus estimate of $93.49 million. During the same quarter last year, the business posted $0.33 earnings per share. Analysts predict that Carriage Services will post 2.5 earnings per share for the current fiscal year.

Carriage Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were paid a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Monday, November 4th. Carriage Services’s dividend payout ratio is currently 20.18%.

Insiders Place Their Bets

In other Carriage Services news, VP Paul Donald Elliott sold 5,000 shares of Carriage Services stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $37.78, for a total transaction of $188,900.00. Following the completion of the sale, the vice president now owns 34,166 shares of the company’s stock, valued at $1,290,791.48. The trade was a 12.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On Carriage Services

Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Carriage Services by 10.7% in the second quarter. Bank of New York Mellon Corp now owns 141,262 shares of the company’s stock worth $3,791,000 after buying an additional 13,598 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Carriage Services by 8.4% in the 2nd quarter. Rhumbline Advisers now owns 20,755 shares of the company’s stock valued at $557,000 after purchasing an additional 1,616 shares in the last quarter. Quest Partners LLC boosted its stake in shares of Carriage Services by 21.3% in the 2nd quarter. Quest Partners LLC now owns 9,983 shares of the company’s stock valued at $268,000 after purchasing an additional 1,755 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Carriage Services by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 18,117 shares of the company’s stock valued at $486,000 after purchasing an additional 2,607 shares during the last quarter. Finally, Perritt Capital Management Inc raised its position in Carriage Services by 5,001.0% in the 2nd 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. 66.46% of the stock is currently owned by institutional investors.

About Carriage Services

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.