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

Carrier Global (NYSE:CARR) had its target price reduced by analysts at Wolfe Research from $76.00 to $75.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The firm currently has an “outperform” rating on the stock. Wolfe Research’s price target would suggest a potential upside of 27.60% from the company’s current price.

Other equities analysts have also issued research reports about the company. Barclays decreased their price target on Carrier Global from $82.00 to $74.00 and set an “overweight” rating on the stock in a research note on Thursday, September 11th. Melius initiated coverage on Carrier Global in a research report on Tuesday, July 1st. They issued a “hold” rating and a $90.00 target price on the stock. Wells Fargo & Company decreased their target price on Carrier Global from $65.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Mizuho decreased their target price on Carrier Global from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Carrier Global in a report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Carrier Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.18.

Carrier Global Price Performance

CARR stock opened at $58.78 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.14 and a debt-to-equity ratio of 0.76. Carrier Global has a 12 month low of $54.22 and a 12 month high of $81.09. The firm has a market cap of $50.02 billion, a P/E ratio of 13.15, a P/E/G ratio of 2.05 and a beta of 1.25. The company’s 50-day moving average price is $60.72 and its two-hundred day moving average price is $66.95.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, October 28th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.65 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. On average, analysts anticipate that Carrier Global will post 2.99 earnings per share for the current fiscal year.

Carrier Global announced that its board has authorized a stock buyback program on Tuesday, October 28th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 10.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Carrier Global

Institutional investors have recently added to or reduced their stakes in the business. AdvisorShares Investments LLC bought a new stake in shares of Carrier Global in the second quarter worth $25,000. Winnow Wealth LLC bought a new stake in shares of Carrier Global in the second quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Carrier Global in the second quarter worth $26,000. Clayton Financial Group LLC bought a new stake in shares of Carrier Global in the 3rd quarter valued at about $26,000. Finally, Traub Capital Management LLC bought a new stake in shares of Carrier Global in the 2nd quarter valued at about $27,000. 91.00% of the stock is owned by institutional investors.

Carrier Global Company Profile

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.