Carriage Services (NYSE:CSV) Upgraded at StockNews.com

Carriage Services (NYSE:CSV) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Separately, Barrington Research reiterated an “outperform” rating and issued a $50.00 target price on shares of Carriage Services in a report on Friday.

Carriage Services Stock Down 1.0 %

Shares of NYSE CSV traded down $0.39 during mid-day trading on Monday, reaching $39.72. 239,006 shares of the company’s stock traded hands, compared to its average volume of 139,250. 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 $23.20 and a 1-year high of $42.75. The stock has a market cap of $604.66 million, a P/E ratio of 17.81, a PEG ratio of 0.97 and a beta of 0.92. The business has a 50-day simple moving average of $40.32 and a 200 day simple moving average of $37.04.

Carriage Services (NYSE:CSV) last announced its earnings results on Wednesday, February 26th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.11. The company had revenue of $97.70 million for the quarter, compared to analysts’ expectations of $96.72 million. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. During the same quarter in the previous year, the firm earned $0.77 earnings per share. On average, analysts expect that Carriage Services will post 2.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. bought a new stake in shares of Carriage Services during the 3rd quarter worth $232,000. Versor Investments LP purchased a new stake in Carriage Services during the third quarter worth about $259,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Carriage Services by 141.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 26,379 shares of the company’s stock worth $866,000 after buying an additional 15,433 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in Carriage Services in the third quarter worth about $2,151,000. Finally, Algert Global LLC boosted its stake in Carriage Services by 22.1% in the third quarter. Algert Global LLC now owns 13,904 shares of the company’s stock valued at $456,000 after acquiring an additional 2,517 shares during the last quarter. Hedge funds and other institutional investors own 66.46% of the company’s stock.

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.