Robert W. Baird Cuts Carrier Global (NYSE:CARR) Price Target to $66.00

Carrier Global (NYSE:CARR) had its price objective cut by Robert W. Baird from $72.00 to $66.00 in a research note issued to investors on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 15.10% from the company’s previous close.

CARR has been the topic of a number of other research reports. Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a research note on Wednesday, October 29th. Zacks Research raised shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carrier Global in a research report on Monday, December 29th. Citigroup decreased their target price on shares of Carrier Global from $71.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, January 12th. Finally, UBS Group decreased their price objective on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Ten equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $69.06.

Carrier Global Stock Up 0.1%

CARR stock opened at $57.34 on Monday. The business’s fifty day moving average price is $53.92 and its two-hundred day moving average price is $60.32. The stock has a market capitalization of $48.29 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 2.30 and a beta of 1.31. Carrier Global has a fifty-two week low of $50.24 and a fifty-two 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 quarterly earnings results on Tuesday, October 28th. The company reported $0.67 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, equities analysts anticipate that Carrier Global will post 2.99 earnings per share for the current year.

Carrier Global announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Carrier Global

Several hedge funds and other institutional investors have recently modified their holdings of CARR. Spirepoint Private Client LLC raised its stake in shares of Carrier Global by 547.7% in the third quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock worth $3,623,000 after purchasing an additional 51,324 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its holdings in Carrier Global by 24.1% during the third quarter. Foster Victor Wealth Advisors LLC now owns 216,777 shares of the company’s stock worth $12,931,000 after buying an additional 42,161 shares in the last quarter. Oak Thistle LLC purchased a new stake in Carrier Global in the 3rd quarter valued at $1,986,000. Triasima Portfolio Management inc. purchased a new stake in Carrier Global in the 2nd quarter valued at $1,421,000. Finally, Brookstone Capital Management boosted its holdings in Carrier Global by 220.8% during the 3rd quarter. Brookstone Capital Management now owns 51,852 shares of the company’s stock worth $3,096,000 after acquiring an additional 35,691 shares during the last quarter. Institutional investors own 91.00% of the company’s stock.

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.