Barclays Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price objective reduced by equities research analysts at Barclays from $90.00 to $87.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 36.58% from the company’s current price.

Several other analysts have also recently commented on CARR. Robert W. Baird reduced their target price on shares of Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada reduced their target price on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research note on Thursday, December 12th. They issued a “buy” rating and a $96.00 price objective for the company. UBS Group upgraded shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. Finally, Stephens reduced their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.64.

Carrier Global Stock Up 0.2 %

CARR stock opened at $63.70 on Wednesday. Carrier Global has a one year low of $53.13 and a one year high of $83.32. The stock has a market capitalization of $57.15 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 1.08. The company has a fifty day moving average of $68.55 and a 200-day moving average of $72.34.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, analysts expect that Carrier Global will post 2.52 EPS for the current year.

Carrier Global declared that its board has authorized a stock buyback plan on Thursday, October 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently modified their holdings of CARR. State Street Corp grew its holdings in Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,665,505 shares of the company’s stock valued at $2,709,736,000 after purchasing an additional 469,108 shares during the period. Geode Capital Management LLC lifted its position in Carrier Global by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 17,357,770 shares of the company’s stock valued at $1,181,300,000 after buying an additional 420,081 shares in the last quarter. Fisher Asset Management LLC lifted its position in Carrier Global by 0.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,313,331 shares of the company’s stock valued at $977,028,000 after buying an additional 46,222 shares in the last quarter. FMR LLC lifted its position in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock worth $702,603,000 after purchasing an additional 2,320,909 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Carrier Global during the fourth quarter worth $588,029,000. 91.00% 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 in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.