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

CSV has been the topic of a number of other reports. Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 target price on shares of Carriage Services in a research note on Monday, June 12th. BidaskClub cut Carriage Services from a “hold” rating to a “sell” rating in a research note on Friday.

Shares of Carriage Services (NYSE:CSV) traded down 2.09% during trading on Monday, reaching $24.39. 173,416 shares of the company’s stock were exchanged. The company’s 50-day moving average is $26.58 and its 200 day moving average is $26.72. The stock has a market capitalization of $407.80 million, a PE ratio of 20.65 and a beta of 0.94. Carriage Services has a 52 week low of $22.53 and a 52 week high of $29.11.

Carriage Services (NYSE:CSV) last posted its earnings results on Wednesday, July 26th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by $0.10. The company had revenue of $63.87 million during the quarter, compared to the consensus estimate of $64.35 million. Carriage Services had a net margin of 8.35% and a return on equity of 15.44%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. On average, analysts forecast that Carriage Services will post $1.67 earnings per share for the current year.

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In related news, CFO Carl Benjamin Brink acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were acquired at an average cost of $26.99 per share, for a total transaction of $26,990.00. Following the completion of the purchase, the chief financial officer now directly owns 7,059 shares in the company, valued at $190,522.41. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 18.20% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. Mohican Financial Management bought a new stake in shares of Carriage Services during the fourth quarter worth $5,321,000. Mackay Shields boosted its stake in shares of Carriage Services by 12.9% in the fourth quarter. Mackay Shields now owns 13,259,000 shares of the company’s stock worth $15,687,000 after buying an additional 1,517,000 shares in the last quarter. LSV Asset Management boosted its stake in shares of Carriage Services by 689.1% in the third quarter. LSV Asset Management now owns 679,538 shares of the company’s stock worth $16,071,000 after buying an additional 593,418 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Carriage Services by 94.3% in the second quarter. Royal Bank of Canada now owns 920,245 shares of the company’s stock worth $21,792,000 after buying an additional 446,527 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Carriage Services during the second quarter worth $8,829,000. Institutional investors and hedge funds own 86.73% of the company’s stock.

About Carriage Services

Carriage Services, Inc is a provider of death care services and merchandise in the United States. The Company operates in two business segments: Funeral Home Operations and Cemetery Operations. The Funeral Homes segment provides funeral services (traditional burial and cremation) and sells related merchandise, such as caskets and urns.

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