Analysts Set Carrier Global Co. (NYSE:CARR) Target Price at $71.73

Carrier Global Co. (NYSE:CARR) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $71.73.

Several equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Citigroup raised Carrier Global from a “neutral” rating to a “buy” rating and increased their target price for the company from $65.00 to $74.00 in a report on Monday, June 24th. Barclays boosted their price target on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Robert W. Baird dropped their target price on shares of Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, Royal Bank of Canada raised their price target on shares of Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th.

Carrier Global Trading Down 1.4 %

Shares of Carrier Global stock opened at $79.33 on Wednesday. Carrier Global has a 1 year low of $45.68 and a 1 year high of $81.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market cap of $71.48 billion, a PE ratio of 55.48, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. The firm has a fifty day moving average price of $71.23 and a 200 day moving average price of $65.16.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. Equities research analysts predict that Carrier Global will post 2.84 earnings per share for the current year.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carrier Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in CARR. Nordea Investment Management AB grew its holdings in Carrier Global by 5.5% during the 1st quarter. Nordea Investment Management AB now owns 822,954 shares of the company’s stock worth $47,633,000 after acquiring an additional 43,002 shares in the last quarter. Frank Rimerman Advisors LLC increased its stake in Carrier Global by 54,708.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,702 shares of the company’s stock valued at $864,000 after buying an additional 13,677 shares during the period. Nomura Holdings Inc. bought a new stake in Carrier Global during the fourth quarter worth approximately $973,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Carrier Global by 50.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 390,272 shares of the company’s stock valued at $22,687,000 after buying an additional 130,192 shares in the last quarter. Finally, GLOBALT Investments LLC GA bought a new position in shares of Carrier Global during the 4th quarter valued at about $859,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

About Carrier Global

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.