The InvoCare Limited (ASX: IVC) share price has risen by 26% since 3rd August when it was $13.69. It's now reached $17.24 and there could be even more growth to come.
InvoCare is Australia's leading funeral operator with a market share of around a third.
Funerals could be a booming industry over the next two decades because the death rate is expected to steadily increase due to Australia's ageing demographics.
InvoCare is a high-quality business with a strong return on equity and improving profit margins.
The strong run up in share price could be due to reports that there may be a higher number of deaths on average over the past few months. The price improvement could be also be due to an announcement by InvoCare that it will benefit by $30 million from a sale of a building in one of its investments.
Foolish takeaway
I think InvoCare is one of the best buy-and-hold shares on the ASX, but I wouldn't be a buyer at today's prices. I'd rather buy at least around $14, if not lower.
