2024-04-04 07:51:48 ET
Summary
- Carriage Services' stock has been able to make higher highs and is attempting to break out above a multi-year downcycling trendline.
- The company's attractive valuation and consistent profitability may attract momentum investors.
- CSV is expected to eke out a marginal bottom-line gain in fiscal 2024, making it a potentially cheap investment.
- Elevated debt & goodwill, however, pose significant risks in a rising interest-rate environment.
Intro
We wrote about Carriage Services, Inc. ( CSV ) (Funeral and cemetery services) in May of 2023 when we raised concerns that the stock's 2022 lows of just under $23 a share would be tested shortly thereafter. With shares trading at approximately $25.50 at the time, the sustained down-move panned out as expected with shares not coming to a final bottom (Close to $20 a share) until November of last year. Since then the stock has been able to make higher highs with shares now in the process of trying to break out above the depicted multi-year downcycling trendline....
Read the full article on Seeking Alpha
For further details see:
Carriage Services: Still Not Cheap Enough To Justify Balance Sheet Concerns