Carrier Global (NYSE:CARR) Stock Rating Upgraded by Northcoast Research

Carrier Global (NYSE:CARR) was upgraded by investment analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a research note issued on Friday, Marketbeat.com reports. The brokerage presently has a $85.00 price objective on the stock. Northcoast Research’s target price would suggest a potential upside of 18.98% from the company’s current price.

Several other research analysts also recently commented on the company. Barclays lifted their price objective on Carrier Global from $83.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday. Wolfe Research upgraded 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. Mizuho set a $72.00 target price on shares of Carrier Global in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target on shares of Carrier Global from $78.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Royal Bank of Canada raised their price target on shares of Carrier Global from $71.00 to $82.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.53.

Carrier Global Price Performance

Shares of Carrier Global stock opened at $71.44 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $61.25 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The business’s 50-day moving average price is $63.72 and its 200-day moving average price is $67.94. Carrier Global has a 12 month low of $54.22 and a 12 month high of $83.32.

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

Hedge Funds Weigh In On Carrier Global

A number of institutional investors have recently added to or reduced their stakes in CARR. Franklin Resources Inc. boosted its stake in Carrier Global by 1.2% during the third quarter. Franklin Resources Inc. now owns 224,323 shares of the company’s stock worth $18,545,000 after acquiring an additional 2,596 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Carrier Global by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,561,877 shares of the company’s stock worth $206,206,000 after purchasing an additional 20,500 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Carrier Global by 10.3% in the 4th quarter. Nordea Investment Management AB now owns 67,949 shares of the company’s stock worth $4,656,000 after buying an additional 6,365 shares during the last quarter. CWA Asset Management Group LLC increased its position in Carrier Global by 24.0% during the 4th quarter. CWA Asset Management Group LLC now owns 4,185 shares of the company’s stock valued at $286,000 after buying an additional 811 shares in the last quarter. Finally, First Hawaiian Bank raised its stake in Carrier Global by 6.4% during the fourth quarter. First Hawaiian Bank now owns 18,441 shares of the company’s stock valued at $1,259,000 after buying an additional 1,114 shares during the last quarter. 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.