Zacks Investment Research Lowers Carriage Services (CSV) to Strong Sell

Carriage Services (NYSE:CSV) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors 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. “

Other research analysts also recently issued reports about the stock. Barrington Research reissued a “buy” rating and issued a $32.00 target price on shares of Carriage Services in a research report on Thursday, August 2nd. TheStreet downgraded shares of Carriage Services from a “b-” rating to a “c+” rating in a research report on Thursday, August 30th. Finally, ValuEngine downgraded shares of Carriage Services from a “hold” rating to a “sell” rating in a research report on Monday, August 13th.

Shares of Carriage Services stock traded up $0.39 during trading on Monday, hitting $15.73. The stock had a trading volume of 263,023 shares, compared to its average volume of 111,881. The company has a market cap of $293.81 million, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 0.87 and a beta of 0.55. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.24 and a quick ratio of 1.01. Carriage Services has a 1 year low of $14.57 and a 1 year high of $28.96.

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

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

Hedge funds have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Carriage Services during the second quarter worth approximately $218,000. Engineers Gate Manager LP acquired a new stake in shares of Carriage Services during the second quarter worth approximately $241,000. First Trust Advisors LP boosted its holdings in shares of Carriage Services by 18.8% during the second 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. boosted its holdings in shares of Carriage Services by 532.4% during the second 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 acquired a new stake in shares of Carriage Services during the second quarter worth approximately $634,000. Institutional investors and hedge funds own 79.19% of the company’s stock.

Carriage Services Company Profile

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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