Carriage Services (NYSE:CSV) Downgraded by StockNews.com to Hold

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

Separately, Barrington Research reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Carriage Services in a research report on Friday, February 28th.

Carriage Services Stock Up 1.3 %

Shares of NYSE CSV opened at $39.08 on Tuesday. Carriage Services has a 12-month low of $23.20 and a 12-month high of $42.75. The stock has a market cap of $611.60 million, a PE ratio of 17.52, a P/E/G ratio of 0.97 and a beta of 0.91. The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03. The company has a 50-day moving average of $40.18 and a 200 day moving average of $37.30.

Carriage Services (NYSE:CSV) last announced its quarterly earnings data 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. Carriage Services had a net margin of 8.57% and a return on equity of 23.52%. The company had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $96.72 million. During the same quarter in the prior year, the company earned $0.77 EPS. As a group, sell-side analysts predict that Carriage Services will post 2.5 EPS for the current fiscal year.

Institutional Trading of Carriage Services

Several institutional investors and hedge funds have recently made changes to their positions in CSV. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Carriage Services during the fourth quarter valued at $3,566,000. Kingsview Wealth Management LLC purchased a new stake in Carriage Services during the 3rd quarter worth approximately $2,151,000. LSV Asset Management increased its holdings in shares of Carriage Services by 12.4% in the 4th quarter. LSV Asset Management now owns 590,917 shares of the company’s stock valued at $23,548,000 after acquiring an additional 65,358 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Carriage Services by 94.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 118,891 shares of the company’s stock valued at $3,903,000 after acquiring an additional 57,821 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of Carriage Services in the 4th quarter valued at approximately $2,272,000. 66.46% of the stock is owned by hedge funds and other institutional investors.

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.