Barclays Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price target reduced by equities research analysts at Barclays from $87.00 to $83.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 26.39% from the stock’s previous close.

Several other analysts have also commented on the stock. Wolfe Research upgraded shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Monday, February 24th. Royal Bank of Canada lowered their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research note on Wednesday, February 12th. Mizuho raised Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a research note on Friday, February 14th. JPMorgan Chase & Co. raised Carrier Global from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $77.00 to $78.00 in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group began coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.27.

Carrier Global Stock Down 1.9 %

Shares of NYSE CARR opened at $65.67 on Wednesday. The stock has a market capitalization of $56.74 billion, a P/E ratio of 10.46, a PEG ratio of 2.01 and a beta of 1.35. The firm’s 50 day simple moving average is $66.21 and its two-hundred day simple moving average is $71.86. Carrier Global has a one year low of $53.33 and a one year high of $83.32. 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 (NYSE:CARR) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the firm posted $0.53 EPS. As a group, analysts expect that Carrier Global will post 2.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Carrier Global

A number of large investors have recently added to or reduced their stakes in CARR. Milestone Asset Management Group LLC bought a new stake in shares of Carrier Global during the 4th quarter valued at about $733,000. Fire Capital Management LLC bought a new stake in Carrier Global during the fourth quarter valued at approximately $320,000. Wellington Management Group LLP increased its holdings in Carrier Global by 303.1% during the fourth quarter. Wellington Management Group LLP now owns 181,661 shares of the company’s stock valued at $12,400,000 after buying an additional 136,597 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in Carrier Global in the fourth quarter worth approximately $35,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in Carrier Global by 0.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 477,158 shares of the company’s stock worth $32,571,000 after acquiring an additional 1,798 shares during the period. Institutional investors own 91.00% of the company’s stock.

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.