Carrier Global (NYSE:CARR) Price Target Raised to $75.00

by · The Cerbat Gem

Carrier Global (NYSE:CARR – Get Free Report) had its price target increased by research analysts at Wells Fargo & Company from $65.00 to $75.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 4.75% from the stock’s current price.

Several other brokerages have also recently commented on CARR. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Monday, February 24th. Barclays reduced their price target on Carrier Global from $87.00 to $83.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Royal Bank of Canada upped their price objective on Carrier Global from $71.00 to $82.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. decreased their target price on Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup lowered their price target on Carrier Global from $89.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $81.21.

Check Out Our Latest Stock Analysis on CARR

Carrier Global Trading Up 2.6 %

Shares of CARR stock opened at $71.60 on Monday. Carrier Global has a 12-month low of $54.22 and a 12-month high of $83.32. The firm has a 50-day moving average price of $63.06 and a 200 day moving average price of $68.21. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $61.86 billion, a P/E ratio of 11.40, a P/E/G ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR – Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $5.22 billion for the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Research analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carrier Global

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Carrier Global by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock worth $1,181,300,000 after buying an additional 420,081 shares during the period. Fisher Asset Management LLC raised its position in Carrier Global by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock valued at $977,028,000 after purchasing an additional 46,222 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after purchasing an additional 4,377,402 shares in the last quarter. Northern Trust Corp increased its stake in shares of Carrier Global by 16.7% in the 4th quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock valued at $603,922,000 after purchasing an additional 1,266,137 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Carrier Global during the 4th quarter worth $588,029,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

About Carrier Global

(Get Free Report)

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.

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