Carrier Global (NYSE:CARR) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Carrier Global (NYSE:CARR) had its target price increased by stock analysts at Royal Bank of Canada from $86.00 to $87.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 20.72% from the stock’s previous close.

CARR has been the topic of a number of other research reports. Barclays raised their price objective on shares of Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Monday, February 24th. Northcoast Research raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Friday, May 9th. Robert W. Baird lifted their price target on shares of Carrier Global from $80.00 to $88.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price target on shares of Carrier Global from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Carrier Global Stock Performance

Shares of NYSE CARR opened at $72.07 on Tuesday. The firm’s 50-day moving average price is $65.06 and its 200-day moving average price is $68.01. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The company has a market cap of $61.79 billion, a PE ratio of 11.48, a PEG ratio of 2.01 and a beta of 1.33. Carrier Global has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The firm had revenue of $5.22 billion for the quarter, compared to the consensus estimate of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. As a group, analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

Institutional Investors Weigh In On Carrier Global

Several institutional investors and hedge funds have recently modified their holdings of CARR. BOK Financial Private Wealth Inc. raised its position in shares of Carrier Global by 80.0% during the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after buying an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE increased its position in Carrier Global by 90.0% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company’s stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Carrier Global in the fourth quarter worth $28,000. Accredited Wealth Management LLC bought a new stake in Carrier Global in the first quarter worth $28,000. Finally, Investment Research & Advisory Group Inc. bought a new stake in Carrier Global in the first quarter worth $29,000. Institutional investors 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.