Carrier Global (NYSE:CARR) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Carrier Global has been downgraded from a "hold" to a "strong sell" rating by Zacks Research and also received a "market perform" rating from Oppenheimer.
• The stock currently has a consensus rating of "Hold," with an average price target of $76.68 despite mixed ratings from various analysts.
• Carrier Global reported strong quarterly earnings, exceeding estimates with $0.92 EPS and revenues of $6.11 billion, but has seen significant adjustments in analysts' price targets recently.

Carrier Global (NYSE:CARR - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Oppenheimer cut shares of Carrier Global from an "outperform" rating to a "market perform" rating in a report on Tuesday. Jefferies Financial Group reaffirmed a "buy" rating on shares of Carrier Global in a research note on Thursday, September 11th. Morgan Stanley reduced their price objective on Carrier Global from $75.00 to $60.00 and set an "equal weight" rating for the company in a report on Tuesday. Citigroup decreased their target price on Carrier Global from $89.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, September 12th. Finally, Royal Bank Of Canada dropped their price target on Carrier Global from $87.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, September 12th. Eleven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $76.68.

Carrier Global Price Performance

Carrier Global stock opened at $57.30 on Tuesday. The company has a market cap of $48.76 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. Carrier Global has a one year low of $54.22 and a one year high of $82.42. The business has a fifty day moving average of $62.48 and a two-hundred day moving average of $67.03. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.80 and a current ratio of 1.17.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $6.11 billion for the quarter, compared to analysts' expectations 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, analysts predict that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CARR. Pacer Advisors Inc. boosted its stake in shares of Carrier Global by 51.7% during the 3rd quarter. Pacer Advisors Inc. now owns 122,081 shares of the company's stock worth $7,288,000 after purchasing an additional 41,623 shares during the last quarter. Clayton Financial Group LLC purchased a new position in shares of Carrier Global during the third quarter valued at approximately $26,000. World Investment Advisors boosted its position in Carrier Global by 2.4% during the third quarter. World Investment Advisors now owns 8,517 shares of the company's stock worth $508,000 after acquiring an additional 199 shares during the last quarter. Brookstone Capital Management boosted its position in Carrier Global by 220.8% during the third quarter. Brookstone Capital Management now owns 51,852 shares of the company's stock worth $3,096,000 after acquiring an additional 35,691 shares during the last quarter. Finally, Value Partners Investments Inc. grew its stake in Carrier Global by 1.1% in the 3rd quarter. Value Partners Investments Inc. now owns 33,753 shares of the company's stock worth $2,014,000 after acquiring an additional 382 shares during the period. 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.

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