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

Carrier Global (NYSE:CARR) had its target price dropped by stock analysts at Wolfe Research from $74.00 to $70.00 in a research report issued on Thursday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Wolfe Research’s target price would indicate a potential upside of 25.89% from the stock’s current price.

A number of other equities analysts have also issued reports on CARR. Weiss Ratings reissued a “hold (c+)” rating on shares of Carrier Global in a report on Monday, December 29th. JPMorgan Chase & Co. reduced their price objective on Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada lowered their target price on Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, December 5th. UBS Group cut their price target on Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Finally, Zacks Research upgraded shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Friday, November 21st. Ten equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.82.

Carrier Global Stock Performance

Shares of CARR stock traded up $0.01 during trading hours on Thursday, hitting $55.61. The stock had a trading volume of 4,935,234 shares, compared to its average volume of 6,528,651. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. The firm has a market capitalization of $46.83 billion, a PE ratio of 12.44, a PEG ratio of 2.14 and a beta of 1.31. The stock’s 50 day moving average is $53.87 and its 200 day moving average is $61.32. Carrier Global has a twelve month low of $50.24 and a twelve month high of $81.09.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. Carrier Global’s revenue for the quarter was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, research analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global announced that its board has initiated a stock buyback program on Tuesday, October 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 10.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Carrier Global

Hedge funds have recently bought and sold shares of the company. PineStone Asset Management Inc. raised its holdings in Carrier Global by 34.6% in the 4th quarter. PineStone Asset Management Inc. now owns 7,153,429 shares of the company’s stock valued at $377,987,000 after acquiring an additional 1,837,985 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Carrier Global by 11.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 265,947 shares of the company’s stock worth $14,053,000 after purchasing an additional 28,212 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Carrier Global by 3.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 35,928 shares of the company’s stock valued at $1,923,000 after purchasing an additional 1,324 shares during the period. ORG Partners LLC increased its stake in Carrier Global by 80.5% in the fourth quarter. ORG Partners LLC now owns 1,193 shares of the company’s stock valued at $63,000 after purchasing an additional 532 shares during the last quarter. Finally, Goelzer Investment Management Inc. lifted its position in Carrier Global by 20.1% during the fourth quarter. Goelzer Investment Management Inc. now owns 33,174 shares of the company’s stock worth $1,753,000 after buying an additional 5,563 shares during the period. 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.