StoneMor Partners L.P. (STON) Cut to Strong Sell at Zacks Investment Research
StoneMor Partners L.P. (NYSE:STON) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.
According to Zacks, “StoneMor Partners L.P., headquartered in Levittown, Pennsylvania, is an owner and operator of cemeteries and funeral homes in the United States, with 224 cemeteries and 57 funeral homes in 27 states and Puerto Rico. StoneMor is the only publicly traded deathcare company structured as a partnership. StoneMor’s cemetery products and services, which are sold on both a pre-need (before death) and at-need (at death) basis, include: burial lots, lawn and mausoleum crypts, burial vaults, caskets, memorials, and all services which provide for the installation of this merchandise. “
Separately, Raymond James Financial Inc. upgraded StoneMor Partners L.P. from an “outperform” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a report on Thursday, August 25th.
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StoneMor Partners L.P. (NYSE:STON) opened at 24.78 on Wednesday. The stock’s market cap is $878.18 million. The stock has a 50 day moving average price of $24.90 and a 200-day moving average price of $24.70. StoneMor Partners L.P. has a 1-year low of $22.80 and a 1-year high of $31.15.
StoneMor Partners L.P. (NYSE:STON) last issued its quarterly earnings data on Friday, August 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.18. The business earned $75.55 million during the quarter, compared to analyst estimates of $88.30 million. During the same quarter in the previous year, the business posted ($0.16) EPS. On average, equities analysts expect that StoneMor Partners L.P. will post ($0.67) EPS for the current year.
In other StoneMor Partners L.P. news, CFO Sean P. Mcgrath sold 1,262 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $24.92, for a total transaction of $31,449.04. Following the sale, the chief financial officer now owns 3,774 shares of the company’s stock, valued at approximately $94,048.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Hedge funds have recently made changes to their positions in the stock. Regent Investment Management LLC boosted its stake in shares of StoneMor Partners L.P. by 12.3% in the third quarter. Regent Investment Management LLC now owns 59,340 shares of the company’s stock valued at $1,486,000 after buying an additional 6,500 shares during the period. MSI Financial Services Inc boosted its stake in StoneMor Partners L.P. by 22.2% in the third quarter. MSI Financial Services Inc now owns 16,068 shares of the company’s stock worth $402,000 after buying an additional 2,917 shares during the last quarter. Beach Investment Counsel Inc. PA boosted its stake in StoneMor Partners L.P. by 15.7% in the second quarter. Beach Investment Counsel Inc. PA now owns 40,652 shares of the company’s stock worth $1,018,000 after buying an additional 5,516 shares during the last quarter. Royal Bank of Canada boosted its stake in StoneMor Partners L.P. by 55.2% in the second quarter. Royal Bank of Canada now owns 38,213 shares of the company’s stock worth $957,000 after buying an additional 13,587 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in StoneMor Partners L.P. by 10.0% in the second quarter. IFP Advisors Inc now owns 5,523 shares of the company’s stock worth $138,000 after buying an additional 502 shares during the last quarter.
About StoneMor Partners L.P.
StoneMor Partners L.P. owns and operates cemeteries and funeral homes. The Company operates through two segments: Cemetery Operations and Funeral Homes. Its Cemetery Operations segment sells interment rights, caskets, burial vaults, cremation niches, markers and other cemetery related merchandise. Its Funeral Homes segment offers a range of services, including family consultation, final expense insurance products, the removal and preparation of remains, provision of caskets and related funeral merchandise, the use of funeral home facilities for visitation, worship and performance of funeral services, and transportation services.
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