Carrier Global (NYSE:CARR) Price Target Increased to $88.00 by Analysts at Oppenheimer

Carrier Global (NYSE:CARR) had its price objective lifted by stock analysts at Oppenheimer from $74.00 to $88.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 9.95% from the stock’s current price.

A number of other analysts have also commented on the company. Baird R W raised Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Morgan Stanley assumed coverage on shares of Carrier Global in a research note on Friday, September 6th. They issued an “equal weight” rating and a $75.00 price target for the company. Bank of America increased their price objective on shares of Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. Citigroup upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and increased their price objective for the company from $65.00 to $74.00 in a report on Monday, June 24th. Finally, Wolfe Research upgraded shares of Carrier Global from an “underperform” rating to a “peer perform” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $73.82.

Carrier Global Stock Performance

Shares of Carrier Global stock opened at $80.04 on Wednesday. Carrier Global has a 12 month low of $45.68 and a 12 month high of $81.64. The firm’s fifty day simple moving average is $71.82 and its 200-day simple moving average is $65.37. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.08 and a quick ratio of 0.80. The stock has a market capitalization of $72.12 billion, a price-to-earnings ratio of 55.97, a PEG ratio of 3.23 and a beta of 1.32.

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

Insiders Place Their Bets

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 value of $4,026,758.10. Following the transaction, the vice president now directly 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 available through this link. Corporate insiders own 6.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CARR. Olistico Wealth LLC bought a new stake in shares of Carrier Global in the 2nd quarter worth $25,000. Meeder Asset Management Inc. lifted its holdings in shares of Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Carrier Global in the second quarter worth about $32,000. Register Financial Advisors LLC purchased a new stake in shares of Carrier Global in the first quarter worth about $34,000. Finally, Rise Advisors LLC raised its stake in Carrier Global by 3,668.8% in the first quarter. Rise Advisors LLC now owns 603 shares of the company’s stock valued at $35,000 after purchasing an additional 587 shares in the last quarter. Institutional investors and hedge funds 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.