Barrington Research Raises Carriage Services (NYSE:CSV) Price Target to $50.00

Carriage Services (NYSE:CSV) had its price target lifted by equities research analysts at Barrington Research from $45.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price target indicates a potential upside of 28.30% from the company’s current price.

Carriage Services Price Performance

Shares of Carriage Services stock opened at $38.97 on Monday. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.72 and a quick ratio of 0.59. The company has a market cap of $593.24 million, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. The firm has a fifty day moving average price of $39.44 and a two-hundred day moving average price of $33.88. Carriage Services has a fifty-two week low of $22.84 and a fifty-two week high of $42.13.

Carriage Services (NYSE:CSV) last released its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.19. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The business had revenue of $100.69 million during the quarter, compared to analysts’ expectations of $93.49 million. During the same quarter last year, the company earned $0.33 earnings per share. Analysts expect that Carriage Services will post 2.5 EPS for the current year.

Insider Buying and Selling at Carriage Services

In other Carriage Services news, VP Paul Donald Elliott sold 5,000 shares of Carriage Services stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $37.78, for a total transaction of $188,900.00. Following the sale, the vice president now directly owns 34,166 shares of the company’s stock, valued at approximately $1,290,791.48. The trade was a 12.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.10% of the company’s stock.

Hedge Funds Weigh In On Carriage Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its position in Carriage Services by 46.6% in the third quarter. FMR LLC now owns 852 shares of the company’s stock valued at $28,000 after acquiring an additional 271 shares during the period. Point72 DIFC Ltd grew its holdings in shares of Carriage Services by 613.0% in the 2nd quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock worth $50,000 after purchasing an additional 1,600 shares during the last quarter. Perritt Capital Management Inc increased its position in shares of Carriage Services by 5,001.0% during 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 in the last quarter. Point72 Asset Management L.P. lifted its holdings in Carriage Services by 1,074.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 4,697 shares of the company’s stock valued at $154,000 after purchasing an additional 4,297 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in Carriage Services in the third quarter valued at about $204,000. 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.