Analysts Set Carrier Global Co. (NYSE:CARR) Target Price at $71.73

Shares of Carrier Global Co. (NYSE:CARR) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $71.73.

A number of equities analysts have recently issued reports on CARR shares. Bank of America raised their target price on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Morgan Stanley assumed coverage on shares of Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price for the company. Robert W. Baird dropped their price target on Carrier Global from $75.00 to $74.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Royal Bank of Canada increased their price objective on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. Finally, Wells Fargo & Company upped their price target 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.

Carrier Global Stock Up 0.9 %

CARR stock opened at $80.52 on Wednesday. The company’s 50 day moving average is $70.75 and its two-hundred day moving average is $64.84. Carrier Global has a twelve month low of $45.68 and a twelve month high of $81.64. 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 stock has a market cap of $72.55 billion, a P/E ratio of 56.31, a PEG ratio of 3.23 and a beta of 1.32.

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 during the quarter, compared to analysts’ expectations of $7.05 billion. Carrier Global had a net margin of 14.27% and a return on equity of 23.68%. Carrier Global’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 earnings per share. Research analysts expect that Carrier Global will post 2.84 earnings per share for the current fiscal year.

Insider Transactions 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 shares were sold at an average price of $64.55, for a total transaction of $4,026,758.10. Following the completion of the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently bought and sold shares of the stock. Olistico Wealth LLC acquired a new stake in shares of Carrier Global during the second quarter valued at $25,000. Meeder Asset Management Inc. boosted its stake in shares of 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 acquired a new position in shares of Carrier Global in the second quarter valued at approximately $32,000. Hantz Financial Services Inc. purchased a new position in shares of Carrier Global during the second quarter valued at approximately $35,000. Finally, Family Firm Inc. acquired a new stake in Carrier Global during the second quarter worth approximately $37,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.