Carrier Global (NYSE:CARR) Price Target Cut to $70.00 by Analysts at Wolfe Research

Carrier Global (NYSE:CARR) had its target price dropped by stock analysts at Wolfe Research from $74.00 to $70.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Wolfe Research’s price objective would suggest a potential upside of 25.89% from the company’s previous close.

Several other equities analysts have also weighed in on CARR. Wells Fargo & Company reduced their price objective on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 4th. JPMorgan Chase & Co. decreased their price objective on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada cut their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, December 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Finally, UBS Group cut their price objective on Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.82.

Carrier Global Trading Up 0.0%

NYSE:CARR traded up $0.01 during trading hours on Thursday, reaching $55.61. 4,935,234 shares of the company were exchanged, compared to its average volume of 6,528,651. The firm has a market cap of $46.83 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 2.14 and a beta of 1.31. The stock has a 50 day simple moving average of $53.87 and a 200 day simple moving average of $61.32. Carrier Global has a 52-week low of $50.24 and a 52-week high of $81.09. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. Carrier Global had a return on equity of 16.65% and a net margin of 18.05%.The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the company posted $0.83 EPS. The business’s quarterly revenue was down 6.8% on a year-over-year basis. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, analysts predict that Carrier Global will post 2.99 EPS for the current year.

Carrier Global declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 28th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. AdvisorShares Investments LLC acquired a new position in Carrier Global in the second quarter worth about $25,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Carrier Global in the 2nd quarter worth approximately $26,000. Winnow Wealth LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $26,000. Traub Capital Management LLC acquired a new stake in shares of Carrier Global during the 2nd quarter valued at approximately $27,000. Finally, REAP Financial Group LLC bought a new position in Carrier Global during the second quarter worth $29,000. 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.