Carrier Global (NYSE:CARR) Price Target Raised to $90.00 at Barclays

Carrier Global (NYSE:CARR) had its target price upped by investment analysts at Barclays from $81.00 to $90.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 12.39% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Morgan Stanley began coverage on Carrier Global in a research report on Friday, September 6th. They set an “equal weight” rating and a $75.00 target price on the stock. Wolfe Research raised Carrier Global from an “underperform” rating to a “peer perform” rating in a research report on Friday, September 6th. Bank of America boosted their price objective on Carrier Global from $72.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. Wells Fargo & Company boosted their price objective on Carrier Global from $66.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada boosted their price objective on Carrier Global from $72.00 to $79.00 and gave the stock an “outperform” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.82.

Carrier Global Trading Up 0.9 %

Shares of NYSE:CARR traded up $0.73 during midday trading on Wednesday, reaching $80.08. The company’s stock had a trading volume of 1,804,339 shares, compared to its average volume of 4,196,563. The firm has a market capitalization of $72.15 billion, a price-to-earnings ratio of 55.92, a PEG ratio of 3.23 and a beta of 1.32. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 1.08. The firm has a 50 day moving average price of $71.23 and a two-hundred day moving average price of $65.16. Carrier Global has a fifty-two week low of $45.68 and a fifty-two week high of $81.64.

Carrier Global (NYSE:CARR) last issued its earnings results on Thursday, July 25th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Carrier Global had a return on equity of 23.68% and a net margin of 14.27%. The business had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, analysts forecast that Carrier Global will post 2.84 earnings per share for the current year.

Insider Activity at Carrier Global

In other Carrier Global news, VP Ajay Agrawal sold 62,382 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $64.55, for a total value of $4,026,758.10. Following the transaction, the vice president now directly owns 103,066 shares in the company, valued at approximately $6,652,910.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carrier Global

Institutional investors have recently added to or reduced their stakes in the business. Marathon Capital Management boosted its holdings in shares of Carrier Global by 4.1% in the 2nd quarter. Marathon Capital Management now owns 3,923 shares of the company’s stock worth $247,000 after purchasing an additional 156 shares in the last quarter. Savant Capital LLC boosted its holdings in shares of Carrier Global by 0.5% in the 2nd quarter. Savant Capital LLC now owns 32,408 shares of the company’s stock worth $2,044,000 after purchasing an additional 162 shares in the last quarter. Founders Capital Management LLC boosted its holdings in shares of Carrier Global by 3.4% in the 2nd quarter. Founders Capital Management LLC now owns 5,250 shares of the company’s stock worth $331,000 after purchasing an additional 175 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Carrier Global by 4.3% in the 1st quarter. Manchester Capital Management LLC now owns 4,385 shares of the company’s stock worth $255,000 after purchasing an additional 180 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Carrier Global by 2.3% in the 1st quarter. Sunbelt Securities Inc. now owns 8,033 shares of the company’s stock worth $467,000 after purchasing an additional 182 shares in the last quarter. 91.00% of the stock is currently owned by institutional investors.

About Carrier Global

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.