Barrington analyst Alexander Paris reiterated a Buy rating on Carriage Services (NYSE: CSV) today and set a price target of $32. The company’s shares closed on Friday at $20.05, close to its 52-week low of $20.03.
Paris noted:
“We view Carriage Services as a superior consolidation, operating and value creation investment platform and, given its growth potential and margin profile, Carriage Services clearly warrants a higher multiple than the market currently affords it. With a stronger balance sheet (enhanced by the recent recapitalization) and a goal to reduce debt to 4.0- 4.5x EBITDA, while simultaneously increasing the pace of acquisition, we are reiterating our OUTPERFORM investment rating and our 12-month price target of $32, suggesting nearly 60% upside from current levels.”
According to TipRanks.com, Paris is a 4-star analyst with an average return of 5.7% and a 49.7% success rate. Paris covers the Services sector, focusing on stocks such as Adtalem Global Education Inc, American Public Education, and Franklin Covey Company.
Currently, the analyst consensus on Carriage Services is a Moderate Buy with an average price target of $32.
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Carriage Services’ market cap is currently $645.6M and has a P/E ratio of 9.30. The company has a Price to Book ratio of 2.69.
Based on the recent corporate insider activity of 44 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. Last month, Carl Benjamin Brink, the CFO of CSV bought 12,000 shares for a total of $243,120.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
