Carrier Global (NYSE:CARR) Given New $61.00 Price Target at Rothschild & Co Redburn

Carrier Global (NYSE:CARR) had its price target cut by analysts at Rothschild & Co Redburn from $67.00 to $61.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the stock. Rothschild & Co Redburn’s target price points to a potential upside of 8.08% from the company’s previous close.

Several other research analysts also recently weighed in on CARR. Wolfe Research dropped their price target on Carrier Global from $74.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. Wells Fargo & Company reduced their price objective on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. Royal Bank Of Canada dropped their price objective on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, December 5th. Morgan Stanley set a $55.00 price target on shares of Carrier Global in a report on Thursday, January 8th. Finally, Oppenheimer reissued a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.65.

Carrier Global Stock Performance

Shares of NYSE:CARR traded up $1.23 during trading on Wednesday, hitting $56.44. The company’s stock had a trading volume of 1,269,497 shares, compared to its average volume of 6,347,728. The company has a 50-day moving average of $53.77 and a 200-day moving average of $60.69. 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 cap of $47.53 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 2.24 and a beta of 1.31. Carrier Global has a 12 month low of $50.24 and a 12 month high of $81.09.

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

Carrier Global declared that its Board of Directors has approved a share buyback program on Tuesday, October 28th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AdvisorShares Investments LLC bought a new stake in Carrier Global during the 2nd quarter valued at $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in shares of Carrier Global in the third quarter valued at about $25,000. YANKCOM Partnership raised its holdings in shares of Carrier Global by 78.5% in the fourth quarter. YANKCOM Partnership now owns 473 shares of the company’s stock valued at $25,000 after acquiring an additional 208 shares in the last quarter. Winnow Wealth LLC purchased a new stake in Carrier Global in the second quarter worth about $26,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Carrier Global during the 2nd quarter worth about $26,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Company Profile

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.