Carriage Services (NYSE:CSV) Hits New 52-Week High – Should You Buy?

Carriage Services, Inc. (NYSE:CSV)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $42.73 and last traded at $42.65, with a volume of 82062 shares changing hands. The stock had previously closed at $40.80.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Carriage Services in a report on Monday.

Carriage Services Trading Up 3.5 %

The company has a current ratio of 0.72, a quick ratio of 0.59 and a debt-to-equity ratio of 2.03. The stock has a market cap of $642.63 million, a PE ratio of 18.93, a PEG ratio of 0.98 and a beta of 0.92. The firm has a fifty day simple moving average of $40.14 and a two-hundred day simple moving average of $36.06.

Carriage Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 3rd will be given a dividend of $0.1125 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $0.45 annualized dividend and a yield of 1.07%. Carriage Services’s payout ratio is presently 20.18%.

Hedge Funds Weigh In On Carriage Services

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Carriage Services during the 3rd quarter worth $4,310,000. Kingsview Wealth Management LLC purchased a new stake in Carriage Services during the third quarter valued at about $2,151,000. LSV Asset Management raised its position in Carriage Services by 12.4% during the fourth quarter. LSV Asset Management now owns 590,917 shares of the company’s stock valued at $23,548,000 after purchasing an additional 65,358 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Carriage Services by 94.7% during the third quarter. JPMorgan Chase & Co. now owns 118,891 shares of the company’s stock worth $3,903,000 after purchasing an additional 57,821 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of Carriage Services in the 4th quarter worth about $2,272,000. Hedge funds and other institutional investors own 66.46% of the company’s stock.

Carriage Services Company Profile

Carriage Services, Inc provides funeral and cemetery services, and merchandise in the United States. It operates in two segments, Funeral Home Operations and Cemetery Operations. The Funeral Home Operations segment provides consultation services; funeral home facilities for visitation and memorial services; transportation services; removal and preparation of remains; sale of caskets and urns; cremation services; and related funeral merchandise.