Wells Fargo & Company Upgrades Carrier Global (NYSE:CARR) to “Strong-Buy”

Carrier Global (NYSE:CARR) was upgraded by investment analysts at Wells Fargo & Company to a “strong-buy” rating in a report released on Thursday, Zacks reports.

A number of other research analysts have also recently commented on the stock. Wolfe Research reissued an “outperform” rating and set a $80.00 target price on shares of Carrier Global in a research report on Thursday, July 9th. Zacks Research raised shares of Carrier Global from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carrier Global in a research note on Monday, July 20th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $78.00 price objective on shares of Carrier Global in a report on Thursday, July 30th. Finally, Citigroup upped their price objective on shares of Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Carrier Global presently has a consensus rating of “Moderate Buy” and an average target price of $73.38.

Carrier Global Stock Performance

Carrier Global stock opened at $56.31 on Thursday. The stock’s 50 day moving average price is $60.58 and its 200 day moving average price is $63.01. The firm has a market capitalization of $46.42 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 2.11 and a beta of 1.30. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. Carrier Global has a one year low of $50.24 and a one year high of $76.76.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the business earned $0.92 EPS. Carrier Global’s quarterly revenue was up 3.9% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.900-2.900 EPS. As a group, sell-side analysts expect that Carrier Global will post 2.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new stake in shares of Carrier Global in the 2nd quarter valued at about $590,759,000. Bank of America Corp DE acquired a new position in Carrier Global in the second quarter worth about $572,908,000. Norges Bank bought a new stake in Carrier Global in the fourth quarter valued at about $380,299,000. Fiera Capital Corp raised its stake in Carrier Global by 5.3% during the fourth quarter. Fiera Capital Corp now owns 6,923,485 shares of the company’s stock valued at $365,837,000 after buying an additional 348,812 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Carrier Global by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock worth $354,188,000 after buying an additional 246,723 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Company Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air conditioning (HVAC) systems and related controls, building automation technologies, and services designed to improve indoor comfort, energy efficiency and building performance.

Carrier also provides refrigeration equipment and systems for commercial, industrial and transportation applications, supporting food preservation and cold-chain operations.