Carrier Global (NYSE:CARR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Carrier Global (NYSE:CARR) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $60.00 to $63.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 12.10% from the company’s previous close.

Several other brokerages have also weighed in on CARR. Wells Fargo & Company lowered their price objective on Carrier Global from $62.00 to $59.00 and set an “equal weight” rating for the company in a report on Thursday, December 4th. The Goldman Sachs Group decreased their target price on Carrier Global from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, December 16th. Barclays lowered their price target on Carrier Global from $74.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on Carrier Global from $70.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, October 29th. Finally, Citigroup lowered their target price on shares of Carrier Global from $71.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, January 12th. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

Carrier Global Trading Up 1.2%

CARR opened at $56.20 on Friday. The stock has a market capitalization of $47.33 billion, a PE ratio of 12.57, a P/E/G ratio of 2.17 and a beta of 1.31. The firm’s fifty day moving average price is $53.82 and its 200 day moving average price is $61.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75. Carrier Global has a 12-month low of $50.24 and a 12-month high of $81.09.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $5.58 billion during 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 firm’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. Carrier Global has set its FY 2025 guidance at 2.650-2.650 EPS. As a group, research analysts expect that Carrier Global will post 2.99 EPS for the current fiscal year.

Carrier Global declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to buy up to 10.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. AdvisorShares Investments LLC acquired a new stake in shares of Carrier Global in the second quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new position in Carrier Global in the 3rd quarter worth approximately $25,000. Winnow Wealth LLC acquired a new stake in Carrier Global in the 2nd quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in Carrier Global during the 2nd quarter valued at $26,000. Finally, Clayton Financial Group LLC acquired a new position in Carrier Global during the 3rd quarter worth $26,000. 91.00% of the stock is owned by institutional investors and hedge funds.

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.