Carrier Global (NYSE:CARR) Trading Down 5.5% – What’s Next?
by Amy Steele · The Cerbat GemCarrier Global Corporation (NYSE:CARR – Get Free Report) shares were down 5.5% on Wednesday . The stock traded as low as $60.85 and last traded at $61.0820. Approximately 1,212,450 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 7,231,931 shares. The stock had previously closed at $64.66.
Analyst Ratings Changes
Several research firms recently commented on CARR. The Goldman Sachs Group upped their target price on Carrier Global from $68.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a research note on Monday, December 29th. Barclays decreased their target price on shares of Carrier Global from $72.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada lowered their target price on shares of Carrier Global from $74.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Thirteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.79.
Get Our Latest Stock Analysis on Carrier Global
Carrier Global Price Performance
The stock has a market cap of $49.55 billion, a PE ratio of 34.54, a price-to-earnings-growth ratio of 2.62 and a beta of 1.32. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.80. The company’s fifty day moving average is $60.54 and its 200 day moving average is $57.48.
Carrier Global (NYSE:CARR – Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue was down 6.0% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, sell-side analysts anticipate that Carrier Global Corporation will post 2.99 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Carrier Global
Large investors have recently modified their holdings of the stock. Spirepoint Private Client LLC increased its position in shares of Carrier Global by 547.7% during the third quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock worth $3,623,000 after acquiring an additional 51,324 shares during the last quarter. Becker Capital Management Inc. lifted its stake in shares of Carrier Global by 5.6% in the third quarter. Becker Capital Management Inc. now owns 425,547 shares of the company’s stock worth $25,405,000 after acquiring an additional 22,377 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in Carrier Global by 24.1% in the third quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock valued at $12,931,000 after purchasing an additional 42,161 shares during the last quarter. Oak Thistle LLC acquired a new stake in Carrier Global during the 3rd quarter valued at approximately $1,986,000. Finally, Deprince Race & Zollo Inc. acquired a new stake in Carrier Global during the 3rd quarter valued at approximately $20,678,000. Institutional investors and hedge funds own 91.00% of the company’s stock.
Carrier Global Company Profile
Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.