Carrier Global (NYSE:CARR) Rating Increased to Outperform at Wolfe Research

Carrier Global (NYSE:CARR) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Monday,Briefing.com Automated Import reports. The firm currently has a $80.00 target price on the stock. Wolfe Research’s price objective would indicate a potential upside of 21.04% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Stephens cut their price objective on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, October 28th. JPMorgan Chase & Co. cut their price target on shares of Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. UBS Group upgraded Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Wednesday, November 13th. Barclays dropped their target price on Carrier Global from $90.00 to $87.00 and set an “overweight” rating for the company in a report on Wednesday, February 12th. Finally, Royal Bank of Canada decreased their price target on Carrier Global from $86.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 12th. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Carrier Global has an average rating of “Moderate Buy” and a consensus target price of $82.47.

Carrier Global Stock Down 1.5 %

Shares of NYSE CARR opened at $66.10 on Monday. The business has a 50-day moving average of $67.46 and a 200-day moving average of $72.40. The firm has a market capitalization of $57.39 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 2.01 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Carrier Global has a 12 month low of $53.33 and a 12 month high of $83.32.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same period last year, the business posted $0.53 EPS. Sell-side analysts expect that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carrier Global

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Carrier Global in the fourth quarter worth approximately $588,029,000. Wealthfront Advisers LLC boosted its stake in 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 purchasing an additional 4,915,826 shares during the last quarter. Brown Advisory Inc. boosted its stake in Carrier Global by 139.1% during the 4th quarter. Brown Advisory Inc. now owns 5,296,577 shares of the company’s stock valued at $361,544,000 after purchasing an additional 3,080,984 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Carrier Global in the 4th quarter worth $166,061,000. Finally, FMR LLC lifted its holdings in shares of Carrier Global by 36.2% during the third quarter. FMR LLC now owns 8,729,073 shares of the company’s stock valued at $702,603,000 after purchasing an additional 2,320,909 shares in the last quarter. Institutional investors own 91.00% of the company’s stock.

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.