Carrier Global (NYSE:CARR) Rating Lowered to “Strong Sell” at Zacks Research

Carrier Global (NYSE:CARR) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also weighed in on CARR. Wolfe Research lowered their price objective on shares of Carrier Global from $74.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a report on Monday, December 29th. Royal Bank Of Canada boosted their price target on shares of Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Barclays reduced their price objective on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Finally, Argus lifted their price target on Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.65.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $65.85 on Monday. The firm’s fifty day simple moving average is $55.90 and its 200-day simple moving average is $58.97. Carrier Global has a 12 month low of $50.24 and a 12 month high of $81.09. The stock has a market capitalization of $55.04 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 2.69 and a beta of 1.33. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.20 and a quick ratio of 0.85.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.05 billion. Carrier Global had a return on equity of 15.30% and a net margin of 6.82%.The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, equities analysts forecast that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global declared that its board has approved a share buyback program on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Carrier Global

A number of hedge funds have recently added to or reduced their stakes in the business. Lowe Brockenbrough & Co. Inc. raised its stake in shares of Carrier Global by 3.9% during the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 8,093 shares of the company’s stock valued at $428,000 after purchasing an additional 303 shares in the last quarter. MCF Advisors LLC raised its position in Carrier Global by 350.0% in the fourth quarter. MCF Advisors LLC now owns 810 shares of the company’s stock worth $43,000 after acquiring an additional 630 shares in the last quarter. First Command Advisory Services Inc. boosted its stake in Carrier Global by 13.9% in the 4th quarter. First Command Advisory Services Inc. now owns 2,081 shares of the company’s stock worth $110,000 after purchasing an additional 254 shares during the period. Pinebridge Investments LLC purchased a new position in Carrier Global during the fourth quarter valued at approximately $6,360,000. Finally, Mandatum Life Insurance Co Ltd increased its stake in shares of Carrier Global by 20.9% during the 4th quarter. Mandatum Life Insurance Co Ltd now owns 81,662 shares of the company’s stock worth $4,315,000 after purchasing an additional 14,120 shares during the last quarter. Institutional investors and hedge funds own 91.00% of the company’s stock.

About Carrier Global

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.