Carriage Services Inc. (CSV) Sees Unusually-High Trading Volume
Shares of Carriage Services Inc. (NYSE:CSV) saw strong trading volume on Friday . 78,247 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 105,354 shares.The stock last traded at $24.29 and had previously closed at $24.32.
A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Carriage Services from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Wednesday, April 27th. Barrington Research lifted their price target on shares of Carriage Services from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, April 26th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Carriage Services in a report on Tuesday, April 26th. Finally, Sidoti assumed coverage on shares of Carriage Services in a report on Friday, April 22nd. They issued a “buy” rating and a $34.00 price target on the stock.
The firm has a 50 day moving average price of $23.24 and a 200-day moving average price of $22.35. The firm has a market cap of $404.44 million and a PE ratio of 23.23.
Carriage Services (NYSE:CSV) last announced its quarterly earnings results on Monday, April 25th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $63.30 million for the quarter, compared to analyst estimates of $63.67 million. The company’s revenue was up .0% compared to the same quarter last year. Analysts anticipate that Carriage Services Inc. will post $1.73 earnings per share for the current year.
In other Carriage Services news, President David J. Decarlo acquired 10,000 shares of the stock in a transaction dated Friday, June 17th. The stock was acquired at an average price of C$22.51 per share, with a total value of C$225,100.00. Following the completion of the purchase, the president now owns 106,047 shares in the company, valued at approximately C$2,387,117.97. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carl Benjamin Brink acquired 1,200 shares of the stock in a transaction dated Wednesday, June 1st. The stock was acquired at an average cost of C$23.54 per share, with a total value of C$28,248.00. Following the purchase, the insider now owns 5,999 shares of the company’s stock, valued at approximately C$141,216.46. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors have bought and sold shares of the stock. Boston Partners acquired a new position in Carriage Services during the fourth quarter valued at approximately $2,172,000. Hodges Capital Management Inc. raised its position in Carriage Services by 8.7% in the fourth quarter. Hodges Capital Management Inc. now owns 149,283 shares of the company’s stock valued at $3,598,000 after buying an additional 11,970 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Carriage Services by 4,092.7% in the fourth quarter. Bank of Montreal Can now owns 313,028 shares of the company’s stock valued at $7,544,000 after buying an additional 305,562 shares during the last quarter.
Carriage Services, Inc (Carriage) is a provider of death care services and merchandise in the United States. The Company operates in two segments: funeral home operations and cemetery operations. Its funeral homes operations segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.
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