Barclays Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Key Points

• Barclays has lowered its price target for Carrier Global from $82.00 to $74.00, while maintaining an "overweight" rating, suggesting a potential upside of 17.37% based on previous stock close.
• Despite Barclays' downgrade, other analysts like Goldman Sachs and Citigroup have maintained "buy" ratings, with Citigroup raising its target price to $89.00.
• Carrier Global's stock has a consensus rating of "Moderate Buy" among analysts, with a current average target price of $84.00.

Carrier Global (NYSE:CARR - Get Free Report) had its price target decreased by equities research analysts at Barclays from $82.00 to $74.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price objective indicates a potential upside of 17.37% from the stock's previous close.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of Carrier Global in a report on Wednesday, May 21st. Citigroup reaffirmed a "buy" rating and set a $89.00 target price (up previously from $82.00) on shares of Carrier Global in a report on Monday, July 14th. Robert W. Baird dropped their target price on shares of Carrier Global from $85.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Royal Bank Of Canada dropped their target price on shares of Carrier Global from $89.00 to $87.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Finally, Melius assumed coverage on shares of Carrier Global in a report on Tuesday, July 1st. They set a "hold" rating and a $90.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $84.00.

Carrier Global Stock Performance

Shares of NYSE:CARR traded up $0.55 during trading on Thursday, hitting $63.05. 1,889,438 shares of the stock traded hands, compared to its average volume of 5,360,065. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76. The company has a market cap of $53.66 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.79 and a beta of 1.25. The company has a fifty day moving average price of $69.90 and a two-hundred day moving average price of $68.13. Carrier Global has a 52-week low of $54.22 and a 52-week high of $83.32.

Carrier Global (NYSE:CARR - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.08 billion. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. As a group, equities analysts predict that Carrier Global will post 2.99 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Costello Asset Management INC raised its position in Carrier Global by 4.2% during the 2nd quarter. Costello Asset Management INC now owns 3,153 shares of the company's stock worth $231,000 after purchasing an additional 127 shares during the last quarter. Rehmann Capital Advisory Group raised its position in Carrier Global by 1.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company's stock worth $884,000 after purchasing an additional 150 shares during the last quarter. Penobscot Investment Management Company Inc. raised its position in Carrier Global by 0.7% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company's stock worth $1,525,000 after purchasing an additional 155 shares during the last quarter. Lindbrook Capital LLC raised its position in Carrier Global by 1.3% during the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company's stock worth $779,000 after purchasing an additional 156 shares during the last quarter. Finally, Code Waechter LLC raised its position in Carrier Global by 5.1% during the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company's stock worth $214,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.