Hillenbrand Stock at 52 Week High, Others Not So Lucky
Hillenbrand (NYSE: HI) stock is currently (as of yesterday) at a 52 week high, closing at $22.08 a share. If fact many investors believe the stock will outperform the S&P 500 going forward.
Other industry stocks are not faring so well. Shares of StoneMor Partners LP fell Tuesday as a Raymond James analyst downgraded the cemetery and funeral home operator following its fourth-quarter report.
Analyst John Ransom lowered his rating to “Market Perform” from “Outperform,” as StoneMor shares were trading above his price target of $20 per share. In afternoon trading, the stock skidded $1.81, or 8.6 percent, to $19.39 in afternoon trading. The stock is still trading near its year high of $21.44 set March 8.
On Monday, StoneMor reported a fourth-quarter loss and said its revenue declined, in part because of a lower death rate. The company lost $3.3 million, or 27 cents per share. It reported a profit of $1.5 million, or 13 cents per share, in the same period a year earlier. Revenue fell 5 percent to $44.2 million from $46.3 million.
The Levittown, Pa., company said revenue from cemetery merchandise and services fell, and it also took int less revenue from funeral home services. It also paid more to cover employee medical benefits because of higher costs and greater use.
Despite the downgrade, Ransom said he is optimistic about StoneMor’s prospects. He said the company’s financial position has improved.
Source: Business Week
Latest posts by CDFuneralNews (see all)
- ASD’s Suicide Telephone Operator Patch (S.T.O.P) System Recognized With 2017 NFDA Innovation Award - November 15, 2017
- Passare Releases Advanced Preneed Integration with Funeral Directors Life - November 15, 2017
- Marching Forward, Making Sales at the 2018 ICCFA Wide World of Sales Conference - November 15, 2017
You may be interested
4 Products Beating the Funeral Merchandise Quality EpidemicJustin Crowe - November 15, 2017
Since entering the funeral industry, I have felt a taboo around talking about the topic of quality in relation to…
ASD’s Suicide Telephone Operator Patch (S.T.O.P) System Recognized With 2017 NFDA Innovation AwardCDFuneralNews - November 15, 2017
Boston, MA—On Monday, October 29, ASD – Answering Service for Directors was named the winner of the National Funeral Directors…
Passare Releases Advanced Preneed Integration with Funeral Directors LifeCDFuneralNews - November 15, 2017
Passare, Inc. recently released an advanced integration with Funeral Directors Life Insurance Company, offering the funeral industry’s only integration between…