Carrier Global (NYSE:CARR) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Carrier Global from “hold” to “strong buy.” Overall, analysts maintain a “moderate buy” consensus with an average price target of $73.67.
• Carrier reported quarterly EPS of $0.86, exceeding estimates of $0.82, while revenue reached $6.35 billion versus the $6.02 billion consensus; revenue increased 3.9% year over year.
• Carrier shares opened at $61.95, compared with a 52-week range of $50.24 to $76.76, and institutional investors and hedge funds own approximately 91% of the stock.

Carrier Global (NYSE:CARR - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. BNP Paribas Exane assumed coverage on shares of Carrier Global in a report on Tuesday, April 14th. They set a "neutral" rating and a $62.00 target price for the company. Royal Bank Of Canada raised their price target on shares of Carrier Global from $71.00 to $81.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their price target on shares of Carrier Global from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. Argus upped their price objective on shares of Carrier Global from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Finally, Wolfe Research reiterated an "outperform" rating and issued a $80.00 price objective on shares of Carrier Global in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $73.67.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $61.95 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.75. The business's 50 day moving average price is $68.51 and its 200-day moving average price is $63.48. The firm has a market capitalization of $51.07 billion, a PE ratio of 43.02, a P/E/G ratio of 2.38 and a beta of 1.31. Carrier Global has a 1 year low of $50.24 and a 1 year high of $76.76.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.82 by $0.04. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The firm's revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 EPS. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, equities research analysts expect that Carrier Global will post 2.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carrier Global

Several institutional investors and hedge funds have recently bought and sold shares of the company. YANKCOM Partnership increased its holdings in shares of Carrier Global by 78.5% during the 4th quarter. YANKCOM Partnership now owns 473 shares of the company's stock worth $25,000 after buying an additional 208 shares during the last quarter. Torren Management LLC acquired a new position in Carrier Global in the fourth quarter valued at approximately $25,000. Financial Management Professionals Inc. grew its position in Carrier Global by 142.4% in the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company's stock worth $28,000 after acquiring an additional 225 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in Carrier Global in the fourth quarter worth approximately $33,000. Finally, Signature Equity Partners LLC grew its position in Carrier Global by 449.2% in the first quarter. Signature Equity Partners LLC now owns 648 shares of the company's stock worth $36,000 after acquiring an additional 530 shares during the period. 91.00% of the stock is currently owned by institutional investors and hedge funds.

About Carrier Global

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.

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