Carrier Global (NYSE:CARR) Given New $75.00 Price Target at Wells Fargo & Company

Carrier Global (NYSE:CARR - Get Free Report) had its target price upped by equities researchers at Wells Fargo & Company from $65.00 to $75.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 4.98% from the stock's previous close.

Several other equities research analysts also recently commented on the company. Mizuho set a $72.00 target price on Carrier Global in a report on Tuesday, April 22nd. Barclays reduced their price objective on shares of Carrier Global from $87.00 to $83.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Citigroup dropped their target price on shares of Carrier Global from $89.00 to $72.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. reduced their price target on shares of Carrier Global from $78.00 to $64.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada lifted their price objective on shares of Carrier Global from $71.00 to $82.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $81.53.

Carrier Global Price Performance

Carrier Global stock traded up $0.94 during midday trading on Monday, hitting $71.44. The company's stock had a trading volume of 5,539,869 shares, compared to its average volume of 4,545,683. Carrier Global has a 12 month low of $54.22 and a 12 month high of $83.32. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $61.25 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33. The stock's 50-day moving average price is $63.72 and its 200-day moving average price is $68.02.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.58 by $0.07. The business had revenue of $5.22 billion during the quarter, compared to analyst estimates of $5.17 billion. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. The business's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 earnings per share. Analysts anticipate that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CARR. Norges Bank acquired a new position in Carrier Global during the fourth quarter worth $588,029,000. Wealthfront Advisers LLC increased its holdings in shares of Carrier Global by 5,840.1% during the 4th quarter. Wealthfront Advisers LLC now owns 5,000,000 shares of the company's stock valued at $341,300,000 after acquiring an additional 4,915,826 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Carrier Global by 82.6% in the 1st quarter. Brown Advisory Inc. now owns 9,673,979 shares of the company's stock valued at $613,330,000 after acquiring an additional 4,377,402 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in Carrier Global in the 4th quarter worth approximately $166,061,000. Finally, Raymond James Financial Inc. bought a new stake in Carrier Global during the fourth quarter worth approximately $108,433,000. 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.