Carrier Global (NYSE:CARR) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Carrier Global (NYSE:CARR) from a strong sell rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

CARR has been the topic of a number of other reports. Mizuho lowered their target price on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Wells Fargo & Company reduced their price target on shares of Carrier Global from $65.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. UBS Group reduced their price target on shares of Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Citigroup increased their price target on shares of Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, Morgan Stanley set a $55.00 price target on shares of Carrier Global in a research report on Thursday, January 8th. Twelve investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Carrier Global presently has an average rating of “Moderate Buy” and a consensus price target of $69.82.

Carrier Global Trading Up 5.2%

Shares of CARR opened at $58.33 on Tuesday. The firm’s 50 day simple moving average is $60.29 and its 200 day simple moving average is $57.38. The company has a market capitalization of $48.73 billion, a P/E ratio of 34.11, a P/E/G ratio of 2.27 and a beta of 1.32. 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.

Carrier Global (NYSE:CARR) last announced 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). The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Sell-side analysts forecast that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. KERR FINANCIAL PLANNING Corp bought a new position in shares of Carrier Global in the third quarter worth approximately $25,000. YANKCOM Partnership grew its holdings in shares of Carrier Global by 78.5% in the fourth quarter. YANKCOM Partnership now owns 473 shares of the company’s stock worth $25,000 after purchasing an additional 208 shares during the last quarter. Torren Management LLC purchased a new stake in Carrier Global in the fourth quarter worth $25,000. Clayton Financial Group LLC purchased a new stake in Carrier Global in the third quarter worth $26,000. Finally, Global Wealth Strategies & Associates lifted its stake in Carrier Global by 150.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 500 shares of the company’s stock worth $26,000 after acquiring an additional 300 shares during the period. Institutional investors own 91.00% of the company’s stock.

About Carrier Global

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.