Carrier Global (NYSE:CARR) Given New $64.00 Price Target at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein lowered Carrier Global’s price target from $78 to $64 while maintaining a “market perform” rating, implying 14.11% potential upside from the prior close.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $72.27; 12 analysts rate it a Buy and nine rate it a Hold.
• Carrier exceeded quarterly expectations, reporting $0.86 in EPS versus $0.82 expected and $6.35 billion in revenue versus $6.02 billion forecast. Institutional investors own approximately 91% of the shares.

Carrier Global (NYSE:CARR - Get Free Report) had its price target lowered by equities research analysts at Sanford C. Bernstein from $78.00 to $64.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Sanford C. Bernstein's price target would indicate a potential upside of 14.11% from the stock's previous close.

CARR has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft decreased their target price on Carrier Global from $71.00 to $64.00 and set a "hold" rating on the stock in a research report on Wednesday, September 30th. Wolfe Research reiterated an "outperform" rating and issued a $80.00 price target on shares of Carrier Global in a report on Thursday, July 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Carrier Global in a research note on Monday, July 20th. Zacks Research cut Carrier Global from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 1st. Finally, Wells Fargo & Company assumed coverage on Carrier Global in a research report on Thursday, September 24th. They issued an "overweight" rating and a $67.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $72.27.

Carrier Global Trading Up 0.6%

NYSE:CARR opened at $56.09 on Wednesday. Carrier Global has a 12-month low of $50.24 and a 12-month high of $76.76. The stock has a fifty day moving average price of $58.89 and a 200 day moving average price of $62.96. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. The firm has a market cap of $46.23 billion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29.

Carrier Global (NYSE:CARR - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. Carrier Global's revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. Sell-side analysts anticipate that Carrier Global will post 2.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carrier Global

Large investors have recently modified their holdings of the company. Van Hulzen Asset Management LLC bought a new stake in Carrier Global in the second quarter valued at about $1,992,000. Cardinal Capital Management Inc. grew its position in shares of Carrier Global by 7.1% in the 2nd quarter. Cardinal Capital Management Inc. now owns 575,335 shares of the company's stock worth $42,201,000 after acquiring an additional 37,934 shares in the last quarter. Avity Investment Management Inc. increased its holdings in shares of Carrier Global by 33.9% in the 2nd quarter. Avity Investment Management Inc. now owns 194,484 shares of the company's stock valued at $14,265,000 after acquiring an additional 49,260 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Carrier Global by 1.5% during the 1st quarter. California Public Employees Retirement System now owns 1,430,425 shares of the company's stock valued at $80,547,000 after acquiring an additional 21,367 shares in the last quarter. Finally, Mandatum Life Insurance Co Ltd lifted its stake in Carrier Global by 36.1% during the first quarter. Mandatum Life Insurance Co Ltd now owns 111,157 shares of the company's stock worth $6,259,000 after purchasing an additional 29,495 shares during the last quarter. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

Carrier Global Company Profile

Carrier Global Corporation NYSE: CARR is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.

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