Barclays Forecasts Strong Price Appreciation for Carrier Global (NYSE:CARR) Stock

Carrier Global (NYSE:CARR) had its target price upped by investment analysts at Barclays from $83.00 to $84.00 in a report issued on Wednesday, Marketbeat.com reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 19.20% from the stock’s current price.

A number of other research firms have also commented on CARR. Wolfe Research raised 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. Mizuho set a $72.00 price target on shares of Carrier Global in a report on Tuesday, April 22nd. Wells Fargo & Company upped their price objective on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday. Citigroup reduced their price target on shares of Carrier Global from $89.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Five investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.29.

Carrier Global Trading Up 0.7 %

Shares of CARR opened at $70.47 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.25 and a quick ratio of 0.96. Carrier Global has a 1-year low of $54.22 and a 1-year high of $83.32. The company has a market capitalization of $60.42 billion, a P/E ratio of 11.22, a P/E/G ratio of 2.01 and a beta of 1.33. The firm’s 50 day simple moving average is $63.53 and its 200 day simple moving average is $68.08.

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

Institutional Trading of Carrier Global

Several hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Carrier Global by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock worth $1,181,300,000 after acquiring an additional 420,081 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Carrier Global by 0.3% during the 4th 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 during the last quarter. Brown Advisory Inc. raised its holdings in Carrier Global by 82.6% during the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company’s stock valued at $613,330,000 after buying an additional 4,377,402 shares during the period. Northern Trust Corp lifted its position in Carrier Global by 16.7% in the fourth quarter. Northern Trust Corp now owns 8,847,377 shares of the company’s stock worth $603,922,000 after buying an additional 1,266,137 shares during the last quarter. Finally, Norges Bank purchased a new position in Carrier Global during the fourth quarter worth $588,029,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Company Profile

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.