Barrington Research Forecasts Strong Price Appreciation for Carriage Services (NYSE:CSV) Stock

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

Carriage Services Trading Down 0.8 %

Shares of NYSE CSV opened at $38.97 on Monday. Carriage Services has a 1-year low of $22.84 and a 1-year high of $42.13. The company has a 50-day moving average of $39.44 and a two-hundred day moving average of $33.88. The company has a market cap of $593.24 million, a PE ratio of 17.48, a P/E/G ratio of 1.07 and a beta of 0.93. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03.

Carriage Services (NYSE:CSV) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.19. The firm had revenue of $100.69 million for the quarter, compared to the consensus estimate of $93.49 million. Carriage Services had a return on equity of 23.52% and a net margin of 8.57%. During the same quarter in the prior year, the business earned $0.33 EPS. As a group, equities analysts expect that Carriage Services will post 2.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CSV. JPMorgan Chase & Co. raised its holdings in Carriage Services by 94.7% in the third quarter. JPMorgan Chase & Co. now owns 118,891 shares of the company’s stock worth $3,903,000 after purchasing an additional 57,821 shares during the period. Principal Financial Group Inc. acquired a new stake in Carriage Services during the 3rd quarter worth $232,000. Barclays PLC lifted its holdings in Carriage Services by 228.6% during the third quarter. Barclays PLC now owns 20,433 shares of the company’s stock worth $671,000 after acquiring an additional 14,215 shares in the last quarter. Geode Capital Management LLC grew its stake in Carriage Services by 4.4% in the third quarter. Geode Capital Management LLC now owns 314,864 shares of the company’s stock valued at $10,339,000 after acquiring an additional 13,126 shares during the period. Finally, XTX Topco Ltd increased its holdings in shares of Carriage Services by 17.3% in the third quarter. XTX Topco Ltd now owns 9,064 shares of the company’s stock worth $298,000 after acquiring an additional 1,337 shares in the last quarter. 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.