Wells Fargo & Company Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price target reduced by analysts at Wells Fargo & Company from $65.00 to $58.00 in a research note issued on Wednesday,MarketScreener reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 1.27% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. UBS Group reduced their price objective on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Morgan Stanley set a $55.00 target price on shares of Carrier Global in a report on Thursday, January 8th. Citigroup increased their target price on shares of Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Argus raised their target price on shares of Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a research report on Monday, December 29th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus target price of $70.15.

Carrier Global Stock Performance

Shares of Carrier Global stock traded up $0.96 during trading on Wednesday, hitting $57.27. 994,738 shares of the stock were exchanged, compared to its average volume of 7,457,172. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.85 and a current ratio of 1.20. Carrier Global has a 12 month low of $50.24 and a 12 month high of $81.09. The stock’s fifty day moving average is $60.43 and its 200 day moving average is $57.54. The stock has a market cap of $47.85 billion, a PE ratio of 33.62, a P/E/G ratio of 2.22 and a beta of 1.32.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $5.05 billion. Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The firm’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, sell-side analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CARR. Brighton Jones LLC raised its holdings in shares of Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after purchasing an additional 1,850 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Carrier Global by 51.5% in the first quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock worth $4,236,000 after purchasing an additional 23,200 shares in the last quarter. United Bank boosted its holdings in Carrier Global by 41.2% in the second quarter. United Bank now owns 16,991 shares of the company’s stock worth $1,244,000 after purchasing an additional 4,956 shares in the last quarter. Schnieders Capital Management LLC. increased its position in Carrier Global by 33.7% during the second quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company’s stock worth $1,242,000 after buying an additional 4,277 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Carrier Global by 16.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 21,440 shares of the company’s stock worth $1,569,000 after buying an additional 3,107 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.