Carrier Global (NYSE:CARR) Cut to Strong Sell at Zacks Research

Carrier Global (NYSE:CARR) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Other analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c+)” rating on shares of Carrier Global in a report on Monday, December 29th. Citigroup upped their price target on Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank Of Canada increased their price target on Carrier Global from $70.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, February 6th. Oppenheimer restated a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company lifted their price objective on Carrier Global from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.65.

Carrier Global Stock Up 0.8%

Shares of NYSE CARR opened at $65.85 on Monday. The company has a 50 day simple moving average of $55.90 and a 200 day simple moving average of $58.97. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.20 and a quick ratio of 0.85. Carrier Global has a 1 year low of $50.24 and a 1 year high of $81.09. The firm has a market cap of $55.04 billion, a PE ratio of 38.51, a price-to-earnings-growth ratio of 2.69 and a beta of 1.33.

Carrier Global (NYSE:CARR) last posted its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Carrier Global had a return on equity of 15.30% and a net margin of 6.82%.The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The company’s revenue was down 6.0% compared to the same quarter last year. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, research analysts forecast that Carrier Global will post 2.99 EPS for the current year.

Carrier Global announced that its board has approved a stock repurchase program on Tuesday, October 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Carrier Global

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Carrier Global by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 93,373,143 shares of the company’s stock valued at $6,833,980,000 after acquiring an additional 450,594 shares in the last quarter. Capital International Investors boosted its stake in Carrier Global by 6.7% during the third quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock worth $3,461,142,000 after acquiring an additional 3,630,524 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Carrier Global by 23.8% in the second quarter. JPMorgan Chase & Co. now owns 38,536,301 shares of the company’s stock worth $2,820,485,000 after purchasing an additional 7,409,432 shares during the period. State Street Corp increased its stake in Carrier Global by 1.4% in the third quarter. State Street Corp now owns 33,377,339 shares of the company’s stock valued at $1,992,627,000 after purchasing an additional 473,692 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Carrier Global by 0.6% in the third quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company’s stock valued at $903,807,000 after purchasing an additional 90,585 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global Company Profile

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.