Carrier Global (NYSE:CARR) Price Target Raised to $90.00 at Barclays

Carrier Global (NYSE:CARR) had its price objective upped by investment analysts at Barclays from $81.00 to $90.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 12.39% from the stock’s previous close.

Several other analysts also recently commented on the company. Morgan Stanley assumed coverage on Carrier Global in a research note on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Wells Fargo & Company increased their target price on Carrier Global from $66.00 to $73.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Baird R W upgraded Carrier Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 15th. Royal Bank of Canada raised their price target on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research note on Thursday, September 5th. Finally, Bank of America raised their price target on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.82.

Carrier Global Stock Up 0.9 %

Shares of NYSE:CARR traded up $0.73 during trading on Wednesday, hitting $80.08. The stock had a trading volume of 1,804,339 shares, compared to its average volume of 4,196,563. Carrier Global has a 12 month low of $45.68 and a 12 month high of $81.64. The company has a market capitalization of $72.15 billion, a PE ratio of 55.92, a PEG ratio of 3.23 and a beta of 1.32. The firm’s fifty day moving average is $71.23 and its 200 day moving average is $65.16. The company has a quick ratio of 0.80, a current ratio of 1.08 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last posted its quarterly earnings data 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. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter last year, the company earned $0.79 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts anticipate that Carrier Global will post 2.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the business’s stock in a transaction that occurred on 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 directly owns 103,066 shares of the company’s stock, valued at $6,652,910.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CARR. Olistico Wealth LLC purchased a new stake in shares of Carrier Global in the second quarter valued at approximately $25,000. Meeder Asset Management Inc. boosted its holdings in Carrier Global by 675.0% in the second quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock valued at $29,000 after purchasing an additional 405 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Carrier Global in the second quarter valued at $32,000. Register Financial Advisors LLC purchased a new stake in Carrier Global in the first quarter valued at $34,000. Finally, Rise Advisors LLC boosted its holdings 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 during the last quarter. 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.