Carrier Global (NYSE:CARR) Price Target Cut to $76.00 by Analysts at Wolfe Research

Key Points

• Wolfe Research has lowered the price target for Carrier Global from $77.00 to $76.00, while maintaining an "outperform" rating, indicating a potential upside of 30.32% from the stock's previous close.
• Carrier Global's stock has seen various price target adjustments recently, with an average consensus target price of $78.42 and a current rating of "Moderate Buy" from analysts.
• The company's latest quarterly earnings surpassed expectations, reporting $0.92 EPS against a consensus estimate of $0.90, with significant revenue of $6.11 billion.

Carrier Global (NYSE:CARR - Get Free Report) had its target price decreased by research analysts at Wolfe Research from $77.00 to $76.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has an "outperform" rating on the stock. Wolfe Research's target price indicates a potential upside of 30.32% from the stock's previous close.

CARR has been the topic of a number of other research reports. Jefferies Financial Group restated a "buy" rating on shares of Carrier Global in a research report on Thursday, September 11th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Carrier Global from $73.00 to $70.00 and set a "hold" rating on the stock in a research report on Tuesday, September 23rd. Robert W. Baird cut their target price on shares of Carrier Global from $84.00 to $75.00 in a research report on Thursday, September 11th. Melius assumed coverage on shares of Carrier Global in a research note on Tuesday, July 1st. They set a "hold" rating and a $90.00 price target for the company. Finally, Royal Bank Of Canada dropped their price target on shares of Carrier Global from $87.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, September 12th. Twelve research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Carrier Global has an average rating of "Moderate Buy" and a consensus target price of $78.42.

Carrier Global Stock Performance

Shares of CARR traded down $1.48 during mid-day trading on Wednesday, hitting $58.32. 351,437 shares of the company's stock were exchanged, compared to its average volume of 5,366,891. Carrier Global has a 52 week low of $54.22 and a 52 week high of $83.32. The stock's 50-day simple moving average is $63.44 and its 200-day simple moving average is $67.34. The firm has a market cap of $49.63 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.84 and a beta of 1.25. The company has a quick ratio of 0.80, a current ratio of 1.17 and a debt-to-equity ratio of 0.76.

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 (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, equities research analysts expect that Carrier Global will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently bought and sold shares of the company. Czech National Bank grew its holdings in Carrier Global by 4.2% in the third quarter. Czech National Bank now owns 203,174 shares of the company's stock worth $12,129,000 after purchasing an additional 8,260 shares during the period. Montecito Bank & Trust acquired a new stake in Carrier Global in the third quarter worth $437,000. Acropolis Investment Management LLC grew its holdings in Carrier Global by 53.8% in the third quarter. Acropolis Investment Management LLC now owns 5,573 shares of the company's stock worth $333,000 after purchasing an additional 1,949 shares during the period. Family Legacy Financial Solutions LLC grew its holdings in Carrier Global by 8.0% in the third quarter. Family Legacy Financial Solutions LLC now owns 19,249 shares of the company's stock worth $1,149,000 after purchasing an additional 1,424 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Carrier Global by 287.8% during the third quarter. Assenagon Asset Management S.A. now owns 438,185 shares of the company's stock valued at $26,160,000 after buying an additional 325,194 shares during the last quarter. Institutional investors 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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