Price Action To Observe: Is Buying 52-Week Stock Like Carriage Services, Inc. a Winning Strategy?

Price Action To Observe: Is Buying 52 Week Stock Like Carriage Services, Inc. a Winning Strategy?

The stock of Carriage Services, Inc. (NYSE:CSV) hit a new 52-week high and has $28.36 target or 5.00% above today’s $27.01 share price. The 5 months bullish chart indicates low risk for the $452.55 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $28.36 price target is reached, the company will be worth $22.63 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 40,899 shares traded hands. Carriage Services, Inc. (NYSE:CSV) has risen 20.35% since April 21, 2016 and is uptrending. It has outperformed by 15.02% the S&P500.

Analysts await Carriage Services, Inc. (NYSE:CSV) to report earnings on February, 21. They expect $0.47 earnings per share, up 20.51% or $0.08 from last year’s $0.39 per share. CSV’s profit will be $7.87M for 14.37 P/E if the $0.47 EPS becomes a reality. After $0.43 actual earnings per share reported by Carriage Services, Inc. for the previous quarter, Wall Street now forecasts 9.30% EPS growth.

Carriage Services, Inc. (NYSE:CSV) Ratings Coverage

Out of 2 analysts covering Carriage Services (NYSE:CSV), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Carriage Services has been the topic of 2 analyst reports since November 11, 2015 according to StockzIntelligence Inc. Barrington Research maintained the shares of CSV in a report on Thursday, September 22 with “Outperform” rating. Oppenheimer initiated the shares of CSV in a report on Wednesday, November 11 with “Outperform” rating.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.31 in Q2 2016. Its up 0.53, from 0.78 in 2016Q1. The ratio improved, as 7 funds sold all Carriage Services, Inc. shares owned while 39 reduced positions. 10 funds bought stakes while 26 increased positions. They now own 12.56 million shares or 3.03% less from 12.96 million shares in 2016Q1.
Deutsche Bancorporation Ag holds 0% or 52,667 shares in its portfolio. State Board Of Administration Of Florida Retirement System holds 0% of its portfolio in Carriage Services, Inc. (NYSE:CSV) for 8,620 shares. Moreover, California State Teachers Retirement Systems has 0% invested in Carriage Services, Inc. (NYSE:CSV) for 30,999 shares. Citigroup last reported 0% of its portfolio in the stock. American Fin Group holds 13,438 shares or 0.02% of its portfolio. Barclays Public Limited Company last reported 0% of its portfolio in the stock. Royal Commercial Bank Of Canada has 0.01% invested in the company for 920,245 shares. California Public Employees Retirement Systems last reported 0.01% of its portfolio in the stock. Whittier Tru, a California-based fund reported 600 shares. Renaissance Techs Lc holds 0.03% or 722,300 shares in its portfolio. Millennium Limited Company last reported 65,564 shares in the company. Highlander Cap Management Ltd holds 0.47% of its portfolio in Carriage Services, Inc. (NYSE:CSV) for 21,577 shares. Lpl Fin Ltd Liability Corporation, a California-based fund reported 22,548 shares. Kennedy Cap Mgmt last reported 0.08% of its portfolio in the stock. Falcon Point Ltd Liability reported 84,242 shares or 0.34% of all its holdings.

Insider Transactions: Since June 1, 2016, the stock had 2 buys, and 0 sales for $145,848 net activity. Shares for $28,248 were bought by Brink Carl Benjamin. $117,600 worth of Carriage Services, Inc. (NYSE:CSV) shares were bought by Leibman Bryan.

More notable recent Carriage Services, Inc. (NYSE:CSV) news were published by: Prnewswire.com which released: “Carriage Services Announces Acquisition of Rich & Thompson Funeral Services in …” on November 15, 2016, also Bizjournals.com with their article: “Long-established local funeral service aligns with Houston’s Carriage Services” published on November 16, 2016, Prnewswire.com published: “Carriage Services Announces Purchase of Becker Ritter Funeral Home in …” on November 08, 2016. More interesting news about Carriage Services, Inc. (NYSE:CSV) were released by: Prnewswire.com and their article: “Carriage Services to Attend the Sidoti & Company Fall 2016 Emerging Growth …” published on November 01, 2016 as well as Prnewswire.com‘s news article titled: “Carriage Services Declares Quarterly Cash Dividend” with publication date: October 27, 2016.

CSV Company Profile

Carriage Services, Inc., incorporated on December 29, 1993, is a well-known provider of death care services and merchandise in the United States. The Firm operates in two business divisions: Funeral Home Operations and Cemetery Operations. The Firm serves suburban and rural markets. The Firm provides funeral and cemetery services and products on both at-need (time of death) and preneed (planned prior to death) basis. The Firm also maintains various trusts in connection with funeral home and cemetery operations, including preneed funeral trusts, preneed cemetery merchandise and service trusts, and cemetery perpetual care trusts.

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