Carrier Global (NYSE:CARR) Stock Price Target Cut by Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut Carrier Global’s price target from $82 to $72 while maintaining an “outperform” rating, implying 32.85% upside from the stock’s $54.20 price.
• Analyst sentiment remains generally positive, with 11 Buy ratings and 10 Holds; MarketBeat’s consensus is a “Moderate Buy” with an average target of $70.71.
• Carrier exceeded quarterly expectations, reporting $0.86 EPS versus $0.82 estimated and $6.35 billion in revenue versus $6.02 billion expected, while institutional investors own approximately 91% of its shares.

Carrier Global (NYSE:CARR - Get Free Report) had its price target dropped by stock analysts at Royal Bank Of Canada from $82.00 to $72.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 32.85% from the company's current price.

A number of other equities analysts have also recently issued reports on CARR. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Carrier Global from $71.00 to $64.00 and set a "hold" rating on the stock in a research note on Wednesday, September 30th. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a report on Friday, October 9th. They set a "neutral" rating and a $61.00 price target on the stock. Citigroup increased their price objective on shares of Carrier Global from $79.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Wells Fargo & Company started coverage on Carrier Global in a research report on Thursday, September 24th. They set an "overweight" rating and a $67.00 price objective for the company. Finally, Zacks Research lowered shares of Carrier Global from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 1st. Eleven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.71.

Carrier Global Stock Performance

Shares of CARR opened at $54.20 on Wednesday. Carrier Global has a one year low of $50.24 and a one year high of $76.76. The firm has a market capitalization of $44.68 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. The company has a 50-day simple moving average of $58.18 and a two-hundred day simple moving average of $62.84. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.72.

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

Institutional Trading of Carrier Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp acquired a new position in Carrier Global in the 2nd quarter worth $590,759,000. Bank of America Corp DE bought a new stake in shares of Carrier Global in the second quarter worth $572,908,000. Dimensional Fund Advisors LP boosted its holdings in Carrier Global by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company's stock worth $354,188,000 after purchasing an additional 246,723 shares during the last quarter. Legal & General Group Plc acquired a new stake in Carrier Global in the 2nd quarter valued at $322,366,000. Finally, Primecap Management Co. CA acquired a new position in shares of Carrier Global during the 2nd quarter worth about $283,585,000. Hedge funds and other institutional investors own 91.00% of the company's stock.

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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