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

Carriage Services (NYSE:CSV) had its price objective upped by Barrington Research from $45.00 to $50.00 in a research report released on Monday morning,Benzinga reports. Barrington Research currently has an outperform rating on the stock.

Carriage Services Stock Performance

CSV opened at $39.26 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 stock has a market cap of $597.65 million, a P/E ratio of 17.61, a P/E/G ratio of 1.07 and a beta of 0.93. The firm has a fifty day moving average price of $39.31 and a 200 day moving average price of $33.80. Carriage Services has a 1 year low of $22.84 and a 1 year high of $42.13.

Carriage Services (NYSE:CSV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.19. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The firm had revenue of $100.69 million for the quarter, compared to analyst estimates of $93.49 million. During the same period last year, the company posted $0.33 EPS. Equities research analysts anticipate that Carriage Services will post 2.5 earnings per share for the current year.

Carriage Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were issued a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Monday, November 4th. Carriage Services’s dividend payout ratio is currently 20.18%.

Insider Buying and Selling

In other Carriage Services news, VP Paul Donald Elliott sold 5,000 shares of Carriage Services stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $37.78, for a total value of $188,900.00. Following the sale, the vice president now owns 34,166 shares in the company, valued at $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 is available through the SEC website. 12.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carriage Services

Several large investors have recently made changes to their positions in CSV. Renaissance Technologies LLC increased its holdings in Carriage Services by 8.2% in the 2nd quarter. Renaissance Technologies LLC now owns 616,500 shares of the company’s stock valued at $16,547,000 after purchasing an additional 46,700 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 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 buying an additional 13,126 shares in the last quarter. Deerfield Management Company L.P. Series C grew its stake in shares of Carriage Services by 198.0% in the second quarter. Deerfield Management Company L.P. Series C now owns 53,584 shares of the company’s stock valued at $1,438,000 after buying an additional 35,605 shares in the last quarter. Penn Mutual Asset Management purchased a new stake in shares of Carriage Services in the 3rd quarter valued at $433,000. Finally, NFJ Investment Group LLC acquired a new position in Carriage Services during the 3rd quarter worth about $1,784,000. 66.46% of the stock is currently owned by institutional investors and hedge funds.

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.