Barclays Has Lowered Expectations for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price objective cut by stock analysts at Barclays from $87.00 to $83.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 21.37% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on CARR. Wells Fargo & Company dropped their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Royal Bank of Canada cut their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upgraded Carrier Global from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $77.00 to $78.00 in a research report on Wednesday, March 5th. Mizuho raised shares of Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Friday, February 14th. Finally, Citigroup decreased their target price on shares of Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $82.27.

Carrier Global Stock Performance

NYSE:CARR opened at $68.39 on Wednesday. The stock has a 50 day simple moving average of $66.33 and a 200 day simple moving average of $71.94. The stock has a market cap of $59.09 billion, a P/E ratio of 10.87, a PEG ratio of 2.01 and a beta of 1.35. Carrier Global has a 1-year low of $53.33 and a 1-year high of $83.32. The company has a current ratio of 1.25, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last posted its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 18.82% and a net margin of 23.83%. During the same quarter in the prior year, the company earned $0.53 earnings per share. Research analysts anticipate that Carrier Global will post 2.99 earnings per share for the current year.

Institutional Investors Weigh In On Carrier Global

Several hedge funds have recently added to or reduced their stakes in CARR. RFG Advisory LLC lifted its holdings in Carrier Global by 36.2% during the 4th quarter. RFG Advisory LLC now owns 7,170 shares of the company’s stock worth $489,000 after buying an additional 1,904 shares during the period. Princeton Global Asset Management LLC increased its position in Carrier Global by 1,156.1% during the 4th quarter. Princeton Global Asset Management LLC now owns 20,663 shares of the company’s stock valued at $1,410,000 after purchasing an additional 19,018 shares during the period. Cerity Partners LLC raised its holdings in Carrier Global by 39.0% during the 3rd quarter. Cerity Partners LLC now owns 136,821 shares of the company’s stock worth $11,013,000 after purchasing an additional 38,365 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Carrier Global in the 4th quarter worth approximately $2,213,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Carrier Global in the 3rd quarter valued at $793,000. 91.00% of the stock is currently owned by institutional investors and hedge funds.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.