Carriage Services: Strong Financial Performance and Strategic Growth Initiatives Support Buy Rating with 40% Upside Potential

In a report released today, Alexander Paris from Barrington reiterated a Buy rating on Carriage Services, with a price target of $60.00.

Alexander Paris has given his Buy rating due to a combination of factors reflecting Carriage Services’ strong financial performance and strategic initiatives. The company reported better-than-expected results in the third quarter, with revenue and adjusted EBITDA surpassing consensus estimates. This was driven by significant growth in cemetery preneed sales and an increase in adjusted diluted EPS, indicating robust operational efficiency.
Additionally, Carriage Services has reaffirmed its guidance for 2025, projecting record highs in revenue and earnings, which positions the company well for future growth. The recent acquisitions and divestitures have marked a return to inorganic growth, aligning with the company’s 2030 Vision to double revenue while maintaining industry-leading margins. The stock is trading at a discount compared to its peers, providing a compelling investment opportunity with a 40% upside potential based on the raised price target of $60. These factors collectively support the OUTPERFORM rating and inclusion on the Barrington Research Best Ideas List for 2025.