Carriage Services Inc. (CSV) Sees Unusually-High Trading Volume
Carriage Services Inc. (NYSE:CSV) shares saw strong trading volume on Thursday . 164,433 shares changed hands during trading, an increase of 56% from the previous session’s volume of 105,534 shares.The stock last traded at $24.42 and had previously closed at $24.19.
A number of equities research analysts have commented on the company. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Carriage Services in a research report on Tuesday, April 26th. Zacks Investment Research upgraded Carriage Services from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Wednesday, April 27th. Barrington Research lifted their price target on Carriage Services from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, April 26th. Finally, Sidoti initiated coverage on Carriage Services in a report on Friday, April 22nd. They set a “buy” rating and a $34.00 price target for the company.
The stock has a market capitalization of $406.27 million and a price-to-earnings ratio of 23.33. The stock’s 50 day moving average is $23.34 and its 200 day moving average is $22.36.
Carriage Services (NYSE:CSV) last released its quarterly earnings data on Monday, April 25th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The company earned $63.30 million during the quarter, compared to the consensus estimate of $63.67 million. The company’s revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that Carriage Services Inc. will post $1.73 earnings per share for the current year.
In related news, insider Carl Benjamin Brink acquired 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was acquired at an average price 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 of the company’s stock, valued at approximately C$141,216.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President David J. Decarlo acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The stock was bought at an average price of C$22.51 per share, with a total value of C$225,100.00. Following the acquisition, the president now directly 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.
Other large investors recently added to or reduced their stakes in the company. Hodges Capital Management Inc. increased its stake 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. Bank of Montreal Can increased its stake 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. Finally, Boston Partners bought a new stake in Carriage Services during the fourth quarter worth approximately $2,172,000.
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.