Carrier Global (NYSE:CARR) Raised to Strong-Buy at Zacks Research

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

CARR has been the topic of several other research reports. Wolfe Research reissued an “outperform” rating and issued a $80.00 price target on shares of Carrier Global in a report on Thursday, July 9th. Mizuho upped their price objective on Carrier Global from $67.00 to $75.00 in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. Argus raised their target price on Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Carrier Global from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.67.

Carrier Global Trading Up 0.9%

Carrier Global stock opened at $61.95 on Thursday. Carrier Global has a 1 year low of $50.24 and a 1 year high of $76.76. The firm’s 50-day moving average is $68.51 and its 200-day moving average is $63.48. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.02. The company has a market cap of $51.07 billion, a P/E ratio of 43.02, a PEG ratio of 2.38 and a beta of 1.31.

Carrier Global (NYSE:CARR) last issued its earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter last year, the company posted $0.92 earnings per share. Carrier Global’s 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. On average, equities analysts expect that Carrier Global will post 2.88 earnings per share for the current year.

Institutional Trading of Carrier Global

Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Carrier Global during the 4th quarter worth $380,299,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Carrier Global during the fourth quarter valued at about $99,839,000. Voloridge Investment Management LLC lifted its holdings in Carrier Global by 865.3% in the fourth quarter. Voloridge Investment Management LLC now owns 1,974,350 shares of the company’s stock worth $104,325,000 after purchasing an additional 1,769,813 shares during the period. Victory Capital Management Inc. grew its position in Carrier Global by 44.1% in the 4th quarter. Victory Capital Management Inc. now owns 4,783,753 shares of the company’s stock valued at $252,774,000 after buying an additional 1,465,144 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its position in Carrier Global by 1,808.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,501,855 shares of the company’s stock valued at $79,358,000 after buying an additional 1,423,152 shares in the last quarter. 91.00% of the stock is currently 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.