Carriage Services Inc. (CSV) Sees Strong Trading Volume
Carriage Services Inc. (NYSE:CSV) shares saw strong trading volume on Thursday . 158,746 shares were traded during mid-day trading, an increase of 48% from the previous session’s volume of 107,471 shares.The stock last traded at $23.67 and had previously closed at $23.47.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Carriage Services from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, April 27th. Barrington Research increased their target price on Carriage Services from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 26th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Carriage Services in a research note on Tuesday, April 26th. Finally, Sidoti assumed coverage on Carriage Services in a research note on Friday, April 22nd. They set a “buy” rating and a $34.00 target price for the company.
The firm has a market capitalization of $393.47 million and a P/E ratio of 22.60. The firm has a 50-day moving average of $23.04 and a 200 day moving average of $22.34.
Carriage Services (NYSE:CSV) last released its quarterly earnings results on Monday, April 25th. The company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. The firm had revenue of $63.30 million for the quarter, compared to the consensus estimate of $63.67 million. The business’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts predict that Carriage Services Inc. will post $1.73 earnings per share for the current fiscal year.
In other news, insider Carl Benjamin Brink purchased 1,200 shares of Carriage Services stock in a transaction dated Wednesday, June 1st. The shares were bought at an average cost of C$23.54 per share, for a total transaction of C$28,248.00. Following the completion of the acquisition, the insider now owns 5,999 shares in the company, valued at approximately C$141,216.46. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, President David J. Decarlo purchased 10,000 shares of Carriage Services stock in a transaction dated Friday, June 17th. The shares were purchased at an average price of C$22.51 per share, for a total transaction of C$225,100.00. Following the completion of the acquisition, the president now owns 106,047 shares of the company’s stock, valued at approximately C$2,387,117.97. The disclosure for this purchase can be found here.
Several institutional investors recently bought and sold shares of the company. Boston Partners bought a new position in Carriage Services during the fourth quarter worth 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 worth $3,598,000 after buying an additional 11,970 shares in 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 worth $7,544,000 after buying an additional 305,562 shares in 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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