Royal Bank of Canada Issues Positive Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its target price upped by research analysts at Royal Bank of Canada from $86.00 to $87.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 15.43% from the stock’s previous close.

Several other equities analysts have also commented on the company. Mizuho set a $72.00 price objective on Carrier Global in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price target on shares of Carrier Global from $66.00 to $79.00 and gave the company an “overweight” rating in a report on Friday. Northcoast Research upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Friday, May 9th. Wolfe Research raised shares of Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Monday, February 24th. Finally, Wells Fargo & Company increased their target price on shares of Carrier Global from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $83.00.

Carrier Global Price Performance

Shares of NYSE CARR traded down $0.46 during mid-day trading on Tuesday, reaching $75.37. 305,184 shares of the company were exchanged, compared to its average volume of 4,600,346. 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’s 50 day moving average price is $64.73 and its 200 day moving average price is $67.93. Carrier Global has a 52 week low of $54.22 and a 52 week high of $83.32. The stock has a market capitalization of $64.61 billion, a PE ratio of 11.99, a PEG ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. Carrier Global’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Sell-side analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carrier Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARR. BOK Financial Private Wealth Inc. raised its position in Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after purchasing an additional 160 shares during the period. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of 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 acquiring an additional 180 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Carrier Global in the fourth quarter valued at $28,000. Accredited Wealth Management LLC acquired a new position in Carrier Global during the 1st quarter worth $28,000. Finally, Mattson Financial Services LLC purchased a new stake in shares of Carrier Global during the 4th quarter worth $31,000. Institutional investors and hedge funds 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.