Carriage Services (CSV) Downgraded to “Strong Sell” at Zacks Investment Research

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Carriage Services (NYSE:CSV) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Monday.

According to Zacks, “Carriage Services, Inc. is a leading provider of death care services and products in the United States. Carriage provides a complete range of services relating to funerals, burials and cremations, including the use of funeral homes and motor vehicles, the performance of cemetery interment services and the management and maintenance of cemetery grounds. They also sell related products and merchandise including caskets, burial vaults, garments, cemetery interment rights, stone and bronze memorials, as well as other items. “

A number of other equities analysts have also recently issued reports on CSV. Barrington Research reiterated a “buy” rating and issued a $32.00 target price on shares of Carriage Services in a report on Thursday, August 2nd. ValuEngine cut Carriage Services from a “hold” rating to a “sell” rating in a report on Friday, August 3rd. Finally, TheStreet cut Carriage Services from a “b-” rating to a “c+” rating in a research note on Thursday, August 30th.

Shares of CSV opened at $16.12 on Monday. Carriage Services has a 12-month low of $14.57 and a 12-month high of $28.96. The company has a current ratio of 1.24, a quick ratio of 1.01 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $293.81 million, a P/E ratio of 11.60, a PEG ratio of 0.87 and a beta of 0.55.

Carriage Services (NYSE:CSV) last issued its earnings results on Wednesday, October 31st. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.08). Carriage Services had a return on equity of 10.80% and a net margin of 13.91%. The firm had revenue of $64.24 million during the quarter, compared to the consensus estimate of $64.79 million. As a group, sell-side analysts forecast that Carriage Services will post 1.17 earnings per share for the current fiscal year.

In other Carriage Services news, insider Shawn R. Phillips sold 6,500 shares of the firm’s stock in a transaction on Thursday, September 27th. The stock was sold at an average price of $21.65, for a total transaction of $140,725.00. Following the transaction, the insider now directly owns 106,946 shares in the company, valued at approximately $2,315,380.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Donald Douglas Patteson, Jr. acquired 4,000 shares of the company’s stock in a transaction on Monday, August 20th. The shares were bought at an average price of $23.25 per share, for a total transaction of $93,000.00. Following the completion of the purchase, the director now owns 51,431 shares in the company, valued at approximately $1,195,770.75. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC bought a new position in Carriage Services during the 2nd quarter valued at $218,000. Engineers Gate Manager LP bought a new stake in shares of Carriage Services during the 2nd quarter worth $241,000. First Trust Advisors LP raised its stake in shares of Carriage Services by 18.8% during the 2nd quarter. First Trust Advisors LP now owns 16,802 shares of the company’s stock worth $412,000 after purchasing an additional 2,658 shares during the period. Bessemer Group Inc. raised its stake in shares of Carriage Services by 532.4% during the 2nd quarter. Bessemer Group Inc. now owns 21,500 shares of the company’s stock worth $528,000 after purchasing an additional 18,100 shares during the period. Finally, Redmond Asset Management LLC bought a new stake in shares of Carriage Services during the 2nd quarter worth $634,000. Institutional investors and hedge funds own 79.19% of the company’s stock.

About Carriage Services

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates through two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment offers burial, cremation, and consultation services; removes and prepares remains; sells caskets, urns, and related funeral merchandise; and enables the use of funeral home facilities for visitation, remembrance, and transportation services.

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