Carrier Global Co. (NYSE:CARR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Carrier Global Co. (NYSE:CARR) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $71.73.

CARR has been the subject of several analyst reports. Barclays raised their target price on Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th. Robert W. Baird cut their target price on Carrier Global from $75.00 to $74.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Wells Fargo & Company raised their target price on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Oppenheimer raised their target price on Carrier Global from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, Wolfe Research upgraded Carrier Global from an “underperform” rating to a “peer perform” rating in a research note on Friday, September 6th.

Carrier Global Stock Down 0.6 %

CARR stock opened at $80.42 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The company has a market capitalization of $72.46 billion, a price-to-earnings ratio of 56.24, a PEG ratio of 2.94 and a beta of 1.32. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $81.64. The stock has a fifty day moving average of $69.76 and a 200-day moving average of $64.21.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $6.70 billion during the quarter, compared to the consensus estimate of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 EPS. As a group, equities research analysts predict that Carrier Global will post 2.84 earnings per share for the current year.

Insider Buying and Selling at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the sale, the vice president now owns 103,066 shares of the company’s stock, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

A number of large investors have recently modified their holdings of the company. Centaurus Financial Inc. purchased a new position in shares of Carrier Global during the 2nd quarter valued at about $436,000. Heritage Wealth Management Inc. purchased a new position in shares of Carrier Global during the 2nd quarter valued at about $382,000. Sanctuary Advisors LLC purchased a new position in shares of Carrier Global during the 2nd quarter valued at about $4,244,000. Souders Financial Advisors increased its stake in Carrier Global by 1.9% in the 2nd quarter. Souders Financial Advisors now owns 80,590 shares of the company’s stock worth $5,084,000 after purchasing an additional 1,521 shares during the period. Finally, Granite Bay Wealth Management LLC purchased a new position in Carrier Global in the 2nd quarter worth approximately $2,796,000. 91.00% of the stock is 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 in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.