Carriage Services (NYSE:CSV) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Carriage Services (NYSE:CSVGet Rating) from a buy rating to a hold rating in a research report released on Wednesday, reports.

According to Zacks, “Carriage Services, Inc. is a leading provider of death care services and products in the United States. Carriage provides a complete range of services relating to funerals, burials and cremations, including the use of funeral homes and motor vehicles, the performance of cemetery interment services and the management and maintenance of cemetery grounds. They also sell related products and merchandise including caskets, burial vaults, garments, cemetery interment rights, stone and bronze memorials, as well as other items. “

Several other equities research analysts have also weighed in on the stock. B. Riley increased their target price on shares of Carriage Services from $60.00 to $76.00 and gave the stock a buy rating in a report on Tuesday, December 28th. Barrington Research increased their target price on shares of Carriage Services from $60.00 to $65.00 in a report on Thursday, February 24th. Finally, began coverage on shares of Carriage Services in a report on Thursday, March 31st. They set a hold rating on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to, the company currently has an average rating of Buy and an average target price of $67.60.

Shares of NYSE CSV opened at $48.62 on Wednesday. The company’s 50 day simple moving average is $51.88 and its 200 day simple moving average is $52.75. Carriage Services has a fifty-two week low of $34.10 and a fifty-two week high of $66.33. The firm has a market capitalization of $745.20 million, a P/E ratio of 26.14, a P/E/G ratio of 0.98 and a beta of 1.05. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.66 and a quick ratio of 0.54.

Carriage Services (NYSE:CSVGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.01. Carriage Services had a net margin of 8.82% and a return on equity of 27.47%. During the same period last year, the company earned $0.81 EPS. Sell-side analysts expect that Carriage Services will post 3.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Monday, May 9th will be issued a dividend of $0.112 per share. The ex-dividend date of this dividend is Friday, May 6th. This represents a $0.45 dividend on an annualized basis and a dividend yield of 0.92%. Carriage Services’s payout ratio is 24.19%.

In related news, SVP Shawn R. Phillips sold 1,201 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $51.16, for a total value of $61,443.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adeola Olaniyan sold 526 shares of Carriage Services stock in a transaction dated Sunday, February 20th. The shares were sold at an average price of $49.49, for a total transaction of $26,031.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,322 shares of company stock worth $119,998. 11.30% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Capital Management LLC bought a new position in shares of Carriage Services in the 1st quarter valued at about $2,568,000. Values First Advisors Inc. acquired a new stake in Carriage Services during the 4th quarter worth approximately $947,000. Barclays PLC boosted its stake in Carriage Services by 193.0% in the 4th quarter. Barclays PLC now owns 23,419 shares of the company’s stock valued at $1,509,000 after purchasing an additional 15,427 shares during the period. Oliver Luxxe Assets LLC acquired a new position in Carriage Services in the 4th quarter valued at $451,000. Finally, Allianz Asset Management GmbH increased its position in Carriage Services by 109.7% during the 4th quarter. Allianz Asset Management GmbH now owns 29,510 shares of the company’s stock worth $1,901,000 after buying an additional 15,439 shares during the period. 72.46% of the stock is owned by institutional investors.

About Carriage Services (Get Rating)

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment engages in the provision of consultation, funeral home facilities for visitation and memorial services, and transportation services; removal and preparation of remains; and sale of burial and cremation services, and related merchandise, such as caskets and urns.

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