Carriage Services (NYSE:CSV) Reaches New 12-Month High – Should You Buy?

Carriage Services, Inc. (NYSE:CSV) shares reached a new 52-week high on Wednesday . The company traded as high as $39.20 and last traded at $39.20, with a volume of 246 shares trading hands. The stock had previously closed at $37.97.

Analyst Ratings Changes

CSV has been the topic of several recent analyst reports. Barrington Research lifted their target price on Carriage Services from $39.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Roth Mkm reiterated a “buy” rating and issued a $40.00 price objective (up from $32.00) on shares of Carriage Services in a report on Friday, August 2nd.

Carriage Services Stock Performance

The stock has a market cap of $604.56 million, a price-to-earnings ratio of 17.03, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91. The company’s 50-day simple moving average is $32.73 and its 200-day simple moving average is $29.74. The company has a quick ratio of 0.69, a current ratio of 0.85 and a debt-to-equity ratio of 2.14.

Carriage Services (NYSE:CSV) last announced its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.45 by $0.19. The business had revenue of $100.69 million during the quarter, compared to the consensus estimate of $93.49 million. Carriage Services had a return on equity of 24.11% and a net margin of 8.57%. During the same period in the prior year, the business posted $0.33 earnings per share. Analysts predict that Carriage Services, Inc. will post 2.5 EPS for the current fiscal year.

Carriage Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Monday, November 4th. Carriage Services’s dividend payout ratio (DPR) is presently 20.18%.

Insiders Place Their Bets

In related news, VP Shawn R. Phillips sold 7,101 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $30.00, for a total transaction of $213,030.00. Following the completion of the transaction, the vice president now directly owns 90,700 shares in the company, valued at $2,721,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Shawn R. Phillips sold 7,101 shares of Carriage Services stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $30.00, for a total transaction of $213,030.00. Following the sale, the vice president now directly owns 90,700 shares in the company, valued at approximately $2,721,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shawn R. Phillips sold 5,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $29.73, for a total value of $148,650.00. Following the completion of the transaction, the vice president now directly owns 97,801 shares of the company’s stock, valued at approximately $2,907,623.73. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.30% of the company’s stock.

Institutional Investors Weigh In On Carriage Services

A number of large investors have recently bought and sold shares of the business. nVerses Capital LLC increased its stake in shares of Carriage Services by 550.0% in the second quarter. nVerses Capital LLC now owns 1,300 shares of the company’s stock valued at $35,000 after buying an additional 1,100 shares in the last quarter. Point72 DIFC Ltd lifted its position in shares of Carriage Services by 613.0% during the second quarter. Point72 DIFC Ltd now owns 1,861 shares of the company’s stock worth $50,000 after purchasing an additional 1,600 shares in the last quarter. Perritt Capital Management Inc grew its stake in shares of Carriage Services by 5,001.0% during the second quarter. Perritt Capital Management Inc now owns 5,101 shares of the company’s stock valued at $137,000 after purchasing an additional 5,001 shares during the last quarter. EMC Capital Management acquired a new stake in shares of Carriage Services in the first quarter valued at approximately $168,000. Finally, TSA Wealth Managment LLC bought a new position in Carriage Services in the 1st quarter worth approximately $206,000. 66.46% of the stock is currently owned by 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.