Oppenheimer Increases Carrier Global (NYSE:CARR) Price Target to $88.00

Carrier Global (NYSE:CARR) had its price target raised by equities researchers at Oppenheimer from $74.00 to $88.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 10.76% from the stock’s previous close.

Other analysts have also issued reports about the company. Robert W. Baird lowered 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. Barclays upped their target price on shares of Carrier Global from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Citigroup raised shares of Carrier Global from a “neutral” rating to a “buy” rating and raised their price target for the company from $65.00 to $74.00 in a report on Monday, June 24th. Bank of America increased their price objective on Carrier Global from $72.00 to $80.00 and gave the company a “neutral” rating in a research report on Friday, September 13th. Finally, Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Carrier Global Price Performance

NYSE CARR traded up $0.10 on Wednesday, reaching $79.45. The company’s stock had a trading volume of 173,846 shares, compared to its average volume of 4,187,981. The company has a current ratio of 1.08, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The business has a 50-day moving average price of $71.23 and a 200 day moving average price of $65.16. The firm has a market cap of $71.59 billion, a PE ratio of 56.11, a price-to-earnings-growth ratio of 3.23 and a beta of 1.32. Carrier Global has a 52 week low of $45.68 and a 52 week high of $81.64.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $6.70 billion for the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. Sell-side analysts expect that Carrier Global will post 2.84 EPS for the current year.

Insider Transactions at Carrier Global

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

Hedge Funds Weigh In On Carrier Global

Institutional investors have recently bought and sold shares of the business. Olistico Wealth LLC acquired a new position in Carrier Global in the 2nd quarter valued at about $25,000. Meeder Asset Management Inc. lifted its holdings in Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC bought a new stake in Carrier Global in the 2nd quarter valued at $32,000. Hantz Financial Services Inc. acquired a new position in Carrier Global in the 2nd quarter valued at $35,000. Finally, Family Firm Inc. bought a new stake in shares of Carrier Global in the second quarter valued at about $37,000. Institutional investors and hedge funds own 91.00% of the company’s stock.

About Carrier Global

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.