Carrier Global Co. (NYSE:CARR) Receives Average Rating of “Buy” from Analysts

Carrier Global Co. (NYSE:CARR) has been given a consensus rating of “Buy” by the eighteen research firms that are currently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $54.38.

CARR has been the topic of a number of recent analyst reports. Citigroup initiated coverage on Carrier Global in a research note on Friday, August 13th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Carrier Global from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. Credit Suisse Group lifted their price objective on Carrier Global from $46.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, July 30th. UBS Group lowered Carrier Global from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $50.00 to $60.00 in a research note on Thursday, August 12th. Finally, Morgan Stanley lifted their price objective on Carrier Global from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th.

Shares of CARR stock opened at $53.82 on Tuesday. The business’s 50-day moving average price is $54.84 and its 200-day moving average price is $47.83. Carrier Global has a 12 month low of $28.79 and a 12 month high of $58.89. The firm has a market capitalization of $46.70 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.71 and a beta of 0.79. The company has a current ratio of 1.56, a quick ratio of 1.23 and a debt-to-equity ratio of 1.35.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, July 29th. The company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. Carrier Global had a return on equity of 28.73% and a net margin of 12.65%. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $4.95 billion. On average, sell-side analysts predict that Carrier Global will post 2.22 earnings per share for the current fiscal year.

In other Carrier Global news, insider David Appel sold 34,259 shares of the business’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $57.38, for a total value of $1,965,781.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ajay Agrawal sold 18,969 shares of the company’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $55.13, for a total value of $1,045,760.97. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CARR. Mid Atlantic Financial Management Inc. ADV lifted its holdings in Carrier Global by 1.8% during the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 10,064 shares of the company’s stock worth $489,000 after purchasing an additional 181 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Carrier Global by 0.9% during the 2nd quarter. Perigon Wealth Management LLC now owns 21,291 shares of the company’s stock worth $1,035,000 after purchasing an additional 197 shares in the last quarter. Taylor Cottrill Erickson & Associates Inc. lifted its holdings in Carrier Global by 1.2% during the 2nd quarter. Taylor Cottrill Erickson & Associates Inc. now owns 16,413 shares of the company’s stock worth $798,000 after purchasing an additional 200 shares in the last quarter. Freestone Capital Holdings LLC lifted its holdings in Carrier Global by 3.4% during the 2nd quarter. Freestone Capital Holdings LLC now owns 6,447 shares of the company’s stock worth $313,000 after purchasing an additional 213 shares in the last quarter. Finally, Rathbone Brothers plc lifted its holdings in Carrier Global by 2.1% during the 2nd quarter. Rathbone Brothers plc now owns 10,755 shares of the company’s stock worth $523,000 after purchasing an additional 220 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating and cooling needs of residential and commercial customers.

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Analyst Recommendations for Carrier Global (NYSE:CARR)

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