Carriage Services (NYSE:CSV) Given New $55.00 Price Target at B. Riley

Carriage Services (NYSE:CSV) had its target price hoisted by B. Riley from $50.00 to $55.00 in a report released on Thursday morning, The Fly reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the company. Roth Capital upped their price objective on Carriage Services from $48.00 to $52.00 and gave the stock a below average rating in a research report on Thursday, July 29th. TheStreet raised shares of Carriage Services from a c+ rating to a b- rating in a report on Friday, August 20th. Finally, Zacks Investment Research raised shares of Carriage Services from a hold rating to a buy rating and set a $42.00 price objective on the stock in a report on Friday, July 30th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $48.75.

Shares of NYSE:CSV opened at $46.00 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.72. Carriage Services has a twelve month low of $20.22 and a twelve month high of $48.61. The company’s 50 day moving average is $40.31 and its 200 day moving average is $37.99. The company has a market cap of $820.00 million, a PE ratio of 40.00, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85.

Carriage Services (NYSE:CSV) last released its quarterly earnings data on Monday, July 26th. The company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.15. Carriage Services had a return on equity of 19.26% and a net margin of 5.75%. The business had revenue of $88.28 million for the quarter, compared to analyst estimates of $81.29 million. Equities research analysts predict that Carriage Services will post 2.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Monday, August 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. Carriage Services’s dividend payout ratio is currently 21.51%.

In other Carriage Services news, EVP Steven D. Metzger acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 9th. The stock was bought at an average price of $36.98 per share, with a total value of $36,980.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Paul Donald Elliott sold 5,119 shares of the company’s stock in a transaction dated Friday, August 6th. The shares were sold at an average price of $37.05, for a total transaction of $189,658.95. Following the sale, the vice president now directly owns 44,156 shares of the company’s stock, valued at approximately $1,635,979.80. The disclosure for this sale can be found here. 11.30% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of Carriage Services by 7.8% in the 2nd quarter. Legal & General Group Plc now owns 4,016 shares of the company’s stock worth $148,000 after acquiring an additional 291 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Carriage Services by 3.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,599 shares of the company’s stock worth $318,000 after acquiring an additional 316 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Carriage Services by 1.3% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 33,200 shares of the company’s stock worth $1,227,000 after acquiring an additional 420 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Carriage Services by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,292 shares of the company’s stock worth $380,000 after buying an additional 726 shares in the last quarter. Finally, Boston Partners lifted its holdings in Carriage Services by 0.5% during the 2nd quarter. Boston Partners now owns 144,687 shares of the company’s stock worth $5,349,000 after buying an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 74.54% of the company’s stock.

About Carriage Services

Carriage Services, Inc engages in the provision of funeral and cemetery services. It operates through the Funeral Home and Cemetery segments. The Funeral Home segment offers a complete suite of services to meet families’ funeral needs, including consultation, the removal and preparation of remains, the sale of caskets and related funeral merchandise, the use of funeral homes for visitation and remembrance services and transportation services.

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