Zacks Research Downgrades Carrier Global (NYSE:CARR) to Hold

Carrier Global (NYSE:CARR) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday, Zacks reports.

Several other equities research analysts have also recently issued reports on CARR. Wolfe Research reissued an “outperform” rating and issued a $80.00 price objective on shares of Carrier Global in a research report on Thursday, July 9th. The Goldman Sachs Group decreased their target price on Carrier Global from $85.00 to $74.00 and set a “buy” rating for the company in a research report on Wednesday. Citigroup upped their target price on Carrier Global from $79.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Sanford C. Bernstein restated a “market perform” rating and set a $78.00 price target on shares of Carrier Global in a research note on Thursday, July 30th. Finally, Wells Fargo & Company started coverage on Carrier Global in a report on Thursday, September 24th. They issued an “overweight” rating and a $67.00 price objective for the company. Twelve investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $73.04.

Carrier Global Stock Performance

CARR stock opened at $55.14 on Thursday. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $59.31 and its two-hundred day simple moving average is $62.93. Carrier Global has a twelve month low of $50.24 and a twelve month high of $76.76. The firm has a market cap of $45.45 billion, a price-to-earnings ratio of 38.29, a PEG ratio of 1.89 and a beta of 1.29.

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

Institutional Trading of Carrier Global

A number of hedge funds have recently bought and sold shares of CARR. Johnson Financial Group Inc. purchased a new position in shares of Carrier Global in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in shares of Carrier Global in the 2nd quarter worth $26,000. Financial Management Professionals Inc. lifted its stake in shares of Carrier Global by 142.4% during the 2nd quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock worth $28,000 after purchasing an additional 225 shares during the last quarter. Signature Equity Partners LLC lifted its stake in shares of Carrier Global by 449.2% during the 1st quarter. Signature Equity Partners LLC now owns 648 shares of the company’s stock worth $36,000 after purchasing an additional 530 shares during the last quarter. Finally, Burnham & Co LLC bought a new stake in Carrier Global during the second quarter valued at about $37,000. Hedge funds and other institutional investors own 91.00% of the company’s stock.

About Carrier Global

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, heat pumps, building controls, and related equipment for residential, commercial and industrial customers. Its offerings are designed to support temperature control, indoor air quality, energy efficiency and building performance.

Carrier also provides refrigeration products and services for food retail, transportation and other applications.