Barclays Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its target price lowered by research analysts at Barclays from $90.00 to $87.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 33.21% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Robert W. Baird decreased their target price on Carrier Global from $88.00 to $86.00 and set an “outperform” rating for the company in a report on Friday, October 25th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group initiated coverage on shares of Carrier Global in a research note on Thursday, December 12th. They set a “buy” rating and a $96.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Carrier Global from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Citigroup lowered their price target on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a report on Monday, January 13th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.71.

Carrier Global Stock Down 1.4 %

Shares of NYSE:CARR opened at $65.31 on Wednesday. The firm’s 50-day moving average is $68.99 and its two-hundred day moving average is $72.41. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global has a 1 year low of $53.13 and a 1 year high of $83.32. The firm has a market capitalization of $58.60 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same quarter in the prior year, the company posted $0.53 EPS. Analysts predict that Carrier Global will post 2.52 EPS for the current year.

Carrier Global declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 24th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Carrier Global

Hedge funds and other institutional investors have recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in Carrier Global during the 3rd quarter worth approximately $28,000. BOK Financial Private Wealth Inc. lifted its stake in Carrier Global by 80.0% in the fourth quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after buying an additional 160 shares during the last quarter. McClarren Financial Advisors Inc. boosted its holdings in shares of Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the period. Coastline Trust Co purchased a new position in shares of Carrier Global during the third quarter worth approximately $37,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $31,000. 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.