Carriage Services (NYSE:CSV) PT Lowered to $62.00 at B. Riley

Carriage Services (NYSE:CSVGet Rating) had its price objective lowered by B. Riley from $76.00 to $62.00 in a research report released on Friday morning, The Fly reports.

CSV has been the subject of several other research reports. StockNews.com began coverage on Carriage Services in a report on Thursday, March 31st. They issued a hold rating for the company. Barrington Research reiterated a maintains rating on shares of Carriage Services in a report on Friday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $64.50.

Carriage Services Trading Up 3.9 %

NYSE CSV opened at $37.70 on Friday. Carriage Services has a fifty-two week low of $34.70 and a fifty-two week high of $66.33. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.64 and a current ratio of 0.80. The stock has a 50 day simple moving average of $39.66 and a two-hundred day simple moving average of $46.02. The stock has a market cap of $561.32 million, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 0.67 and a beta of 0.99.

Carriage Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Monday, August 8th will be paid a $0.1125 dividend. This represents a $0.45 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, August 5th. This is a boost from Carriage Services’s previous quarterly dividend of $0.11. Carriage Services’s dividend payout ratio (DPR) is presently 14.20%.

Insider Activity

In other news, COO Carlos R. Quezada bought 1,500 shares of the stock in a transaction dated Friday, May 20th. The stock was bought at an average price of $37.93 per share, for a total transaction of $56,895.00. Following the purchase, the chief operating officer now directly owns 6,967 shares in the company, valued at approximately $264,258.31. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Carriage Services by 6.8% during the first quarter. Vanguard Group Inc. now owns 946,962 shares of the company’s stock valued at $50,500,000 after buying an additional 60,532 shares during the last quarter. Global Alpha Capital Management Ltd. raised its stake in Carriage Services by 6.0% during the first quarter. Global Alpha Capital Management Ltd. now owns 946,908 shares of the company’s stock valued at $50,499,000 after buying an additional 53,240 shares during the last quarter. Fenimore Asset Management Inc. raised its stake in Carriage Services by 7.0% during the second quarter. Fenimore Asset Management Inc. now owns 300,264 shares of the company’s stock valued at $11,905,000 after buying an additional 19,660 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Carriage Services during the second quarter valued at $6,778,000. Finally, UBS Group AG raised its stake in Carriage Services by 6.4% during the first quarter. UBS Group AG now owns 141,641 shares of the company’s stock valued at $7,553,000 after buying an additional 8,514 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

About Carriage Services

(Get Rating)

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 engages in the provision of consultation, funeral home facilities for visitation and memorial services, and transportation services; removal and preparation of remains; and sale of burial and cremation services, and related merchandise, such as caskets and urns.

Recommended Stories

The Fly logo

Receive News & Ratings for Carriage Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carriage Services and related companies with MarketBeat.com's FREE daily email newsletter.