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

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

A number of other brokerages have also issued reports on CARR. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Carrier Global in a research report on Monday, July 20th. Deutsche Bank Aktiengesellschaft decreased their price target on Carrier Global from $71.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday. Wells Fargo & Company began coverage on Carrier Global in a research note on Thursday, September 24th. They issued an “overweight” rating and a $67.00 price target on the stock. Wolfe Research restated an “outperform” rating and set a $80.00 price objective on shares of Carrier Global in a report on Thursday, July 9th. Finally, Citigroup upped their price objective on shares of Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Twelve equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.04.

Carrier Global Trading Down 0.2%

Carrier Global stock opened at $55.14 on Thursday. 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 cap of $45.45 billion, a price-to-earnings ratio of 38.29, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. 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 price is $59.31 and its two-hundred day moving average price is $62.93.

Carrier Global (NYSE:CARR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04. Carrier Global had a return on equity of 14.68% and a net margin of 5.52%.The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the prior year, the company earned $0.92 earnings per share. The firm’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, research analysts predict that Carrier Global will post 2.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Carrier Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Johnson Financial Group Inc. bought a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $25,000. Meeder Asset Management Inc. acquired a new position in Carrier Global in the second quarter worth approximately $26,000. Financial Management Professionals Inc. raised its position in Carrier Global by 142.4% during the second quarter. Financial Management Professionals Inc. now owns 383 shares of the company’s stock valued at $28,000 after acquiring an additional 225 shares in the last quarter. Signature Equity Partners LLC lifted its stake in Carrier Global by 449.2% in the first quarter. Signature Equity Partners LLC now owns 648 shares of the company’s stock valued at $36,000 after acquiring an additional 530 shares during the last quarter. Finally, Burnham & Co LLC acquired a new stake in Carrier Global in the second quarter valued at approximately $37,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Carrier Global Company Profile

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.