Carriage Services (NYSE:CSV) Hits New 12-Month High – Still a Buy?

Carriage Services, Inc. (NYSE:CSV) reached a new 52-week high during trading on Thursday . The stock traded as high as $42.73 and last traded at $42.65, with a volume of 82062 shares traded. The stock had previously closed at $40.80.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Carriage Services in a research report on Monday, February 10th.

Carriage Services Stock Down 2.7 %

The stock has a market capitalization of $625.16 million, a P/E ratio of 18.42, a P/E/G ratio of 0.98 and a beta of 0.92. The company’s 50-day moving average price is $40.22 and its 200 day moving average price is $36.17. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.59 and a current ratio of 0.72.

Carriage Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a dividend of $0.1125 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.45 annualized dividend and a yield of 1.10%. Carriage Services’s payout ratio is 20.18%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Carriage Services in the 3rd quarter valued at $207,000. Allspring Global Investments Holdings LLC purchased a new position in Carriage Services in the 3rd quarter worth about $4,310,000. Principal Financial Group Inc. bought a new stake in Carriage Services during the 3rd quarter valued at about $232,000. Versor Investments LP purchased a new stake in Carriage Services in the 3rd quarter valued at about $259,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Carriage Services by 141.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,379 shares of the company’s stock worth $866,000 after acquiring an additional 15,433 shares in the last quarter. 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.