Carrier Global Co. (NYSE:CARR) Receives $82.53 Consensus Target Price from Brokerages

Shares of Carrier Global Co. (NYSE:CARR) have received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $82.53.

CARR has been the subject of several research analyst reports. Barclays reduced their price objective on shares of Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a report on Friday, February 14th. Citigroup cut their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company cut their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group began coverage on shares of Carrier Global in a report on Thursday, December 12th. They issued a “buy” rating and a $96.00 price target for the company.

Hedge Funds Weigh In On Carrier Global

A number of large investors have recently made changes to their positions in CARR. Norges Bank acquired a new position in shares of Carrier Global in the 4th quarter valued at about $588,029,000. Wealthfront Advisers LLC increased its holdings in Carrier Global by 5,840.1% in the fourth quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company’s stock worth $341,300,000 after buying an additional 4,915,826 shares during the last quarter. Brown Advisory Inc. increased its holdings in Carrier Global by 139.1% in the fourth quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company’s stock worth $361,544,000 after buying an additional 3,080,984 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in Carrier Global in the fourth quarter worth approximately $166,061,000. Finally, FMR LLC increased its holdings in Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after buying an additional 2,320,909 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

Carrier Global Stock Performance

CARR stock opened at $66.15 on Wednesday. The company has a market capitalization of $57.15 billion, a P/E ratio of 10.53, a PEG ratio of 2.01 and a beta of 1.35. The company has a 50-day simple moving average of $66.32 and a 200 day simple moving average of $71.92. Carrier Global has a fifty-two week low of $53.33 and a fifty-two week high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period in the prior year, the company earned $0.53 earnings per share. Sell-side analysts predict that Carrier Global will post 2.99 earnings per share for the current fiscal year.

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.