Carrier Global (NYSE:CARR) Stock Price Target Lowered at Royal Bank Of Canada

Carrier Global (NYSE:CARR) had its price target reduced by equities researchers at Royal Bank Of Canada from $82.00 to $72.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 32.85% from the company’s previous close.

A number of other brokerages also recently weighed in on CARR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carrier Global in a report on Monday, July 20th. The Goldman Sachs Group cut shares of Carrier Global from a “buy” rating to a “neutral” rating and set a $61.00 target price on the stock. in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price target on Carrier Global from $71.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, September 30th. JPMorgan Chase & Co. started coverage on shares of Carrier Global in a research report on Friday, October 9th. They issued a “neutral” rating and a $61.00 price target for the company. Finally, Sanford C. Bernstein decreased their price objective on Carrier Global from $78.00 to $64.00 and set a “market perform” rating for the company in a report on Wednesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $70.71.

Carrier Global Stock Performance

Shares of CARR stock traded down $0.83 during midday trading on Wednesday, hitting $54.20. 141,038 shares of the company were exchanged, compared to its average volume of 6,728,417. Carrier Global has a 52 week low of $50.24 and a 52 week high of $76.76. The firm’s 50 day moving average price is $58.18 and its two-hundred day moving average price is $62.84. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 1.02. The firm has a market capitalization of $44.68 billion, a P/E ratio of 37.64, a PEG ratio of 1.89 and a beta of 1.29.

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

Institutional Trading of Carrier Global

A number of institutional investors and hedge funds have recently modified their holdings of the business. First Citizens Bank & Trust Co. raised its position in Carrier Global by 528.5% in the third quarter. First Citizens Bank & Trust Co. now owns 40,866 shares of the company’s stock worth $2,242,000 after acquiring an additional 34,364 shares during the period. MFA Wealth Services raised its stake in Carrier Global by 4.6% in the 3rd quarter. MFA Wealth Services now owns 5,450 shares of the company’s stock valued at $299,000 after acquiring an additional 242 shares during the period. ProCore Advisors LLC boosted its position in Carrier Global by 13.5% during the third quarter. ProCore Advisors LLC now owns 3,903 shares of the company’s stock worth $214,000 after purchasing an additional 465 shares during the period. Salem Investment Counselors Inc. raised its holdings in Carrier Global by 110.3% during the 3rd quarter. Salem Investment Counselors Inc. now owns 34,589 shares of the company’s stock valued at $1,898,000 after acquiring an additional 18,144 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its holdings in Carrier Global by 26.3% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 6,144 shares of the company’s stock valued at $337,000 after buying an additional 1,280 shares in the last quarter. 91.00% of the stock is owned by hedge funds and other institutional investors.

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.