B. Riley Financial Has Lowered Expectations for Carriage Services (NYSE:CSV) Stock Price

Carriage Services (NYSE:CSV) had its target price reduced by B. Riley Financial from $65.00 to $56.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial‘s target price indicates a potential upside of 106.95% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Roth Capital set a $42.00 price target on shares of Carriage Services in a report on Friday, October 2nd. UBS Group set a $56.00 price objective on shares of Carriage Services in a research note on Friday. Zacks Research lowered shares of Carriage Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Raymond James Financial set a $50.00 price objective on shares of Carriage Services in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Carriage Services from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 19th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Carriage Services currently has an average rating of “Hold” and an average price target of $52.57.

Carriage Services Trading Down 4.1%

NYSE CSV traded down $1.15 on Friday, hitting $27.06. The company’s stock had a trading volume of 97,540 shares, compared to its average volume of 143,665. The company has a quick ratio of 1.29, a current ratio of 1.46 and a debt-to-equity ratio of 1.92. Carriage Services has a 1-year low of $26.46 and a 1-year high of $52.10. The company’s 50-day moving average is $33.49 and its 200 day moving average is $39.85. The firm has a market cap of $429.44 million, a PE ratio of 9.20, a PEG ratio of 0.72 and a beta of 0.72.

Carriage Services (NYSE:CSV) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.20). The company had revenue of $100.26 million during the quarter, compared to analyst estimates of $109.47 million. Carriage Services had a net margin of 11.31% and a return on equity of 17.81%. As a group, analysts predict that Carriage Services will post 3.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carriage Services

Several institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its stake in Carriage Services by 50.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 784 shares of the company’s stock valued at $36,000 after acquiring an additional 264 shares in the last quarter. Optiver Holding B.V. raised its holdings in shares of Carriage Services by 2,195.1% in the first quarter. Optiver Holding B.V. now owns 941 shares of the company’s stock valued at $43,000 after purchasing an additional 900 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Carriage Services by 747.1% in the third quarter. Versant Capital Management Inc now owns 1,440 shares of the company’s stock valued at $45,000 after purchasing an additional 1,270 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Carriage Services during the second quarter valued at about $54,000. Finally, State of Wyoming bought a new position in shares of Carriage Services during the second quarter valued at about $67,000. 66.46% of the stock is owned by institutional investors and hedge funds.

About Carriage Services

Carriage Services, Inc is a provider of funeral and cemetery services in the United States. The company operates funeral homes and cemeteries that serve families through arrangements for traditional funerals, cremation services, memorial ceremonies and related merchandise.

Its cemetery operations provide interment and memorialization services, including burial plots, mausoleums, cremation niches and other cemetery products. Carriage Services also offers advance-planning and prearrangement services, allowing individuals and families to make funeral and cemetery arrangements before they are needed.

Founded in 1991 and headquartered in Houston, Texas, Carriage Services operates through a network of funeral homes and cemeteries across multiple U.S.