Analyst Joanna Gajuk of Bank of America Securities maintained a Buy rating on Service International, retaining the price target of $98.00.
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Joanna Gajuk’s rating is based on several factors that highlight Service International’s potential for growth despite recent visitation declines. Although the company experienced a 14% decrease in average daily visitations in June, which was worse than historical trends, there was a sequential improvement in demand compared to the first quarter. This improvement is seen as a positive indicator for pre-need sales, which had previously declined by 2.5% in Q1.
Furthermore, Gajuk maintains a Buy rating due to Service International’s strong cash flows and capital deployment potential. The company’s long-term growth outlook remains attractive, driven by aging demographics, which is expected to bolster future demand for its services. Despite the current visitation challenges, the overall financial health and strategic positioning of Service International support the Buy recommendation.
In another report released on July 17, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $90.00 price target.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SCI in relation to earlier this year.