Barrington analyst Alexander Paris reiterated a Buy rating on Carriage Services (NYSE: CSV) today and set a price target of $24. The company’s shares opened today at $18.78.
Paris observed:
“We are reiterating our OUTPERFORM investment rating and advise investors to take advantage of this weakness to establish or add to positions. Our 12-month price target goes to $24 (from $32) to reflect our lower earnings assumptions and a lower multiple on those earnings.”
According to TipRanks.com, Paris is a 4-star analyst with an average return of 7.7% and a 51.2% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, American Public Education, and Franklin Covey Company.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Carriage Services with a $24 average price target.
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Based on Carriage Services’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $2.73 million. In comparison, last year the company had a net profit of $3.03 million.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CSV in relation to earlier this year. Most recently, in September 2018, Carl Benjamin Brink, the CFO of CSV bought 12,000 shares for a total of $243,120.
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Carriage Services, Inc. provides funeral and cemetery services and products in the United States of America. It operates through two segments: Funeral Home Operations and Cemetery Operations.
