CICC Research Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its target price reduced by analysts at CICC Research from $76.85 to $69.78 in a research note issued on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the stock. CICC Research’s target price would suggest a potential upside of 7.44% from the company’s previous close.

A number of other equities research analysts have also issued reports on CARR. The Goldman Sachs Group boosted their price target on shares of Carrier Global from $68.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 6th. Mizuho cut their target price on shares of Carrier Global from $75.00 to $67.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Citigroup increased their target price on Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a report on Friday, February 6th. Wolfe Research lowered their price target on Carrier Global from $74.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Finally, Wells Fargo & Company upped their price target on Carrier Global from $59.00 to $65.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.60.

Carrier Global Trading Down 3.2%

Shares of NYSE:CARR opened at $64.95 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.85 and a current ratio of 1.20. The stock has a market capitalization of $54.29 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 2.69 and a beta of 1.33. Carrier Global has a 1-year low of $50.24 and a 1-year high of $81.09. The company has a 50 day moving average price of $56.36 and a 200 day moving average price of $59.07.

Carrier Global (NYSE:CARR) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $5.05 billion. Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. Carrier Global’s revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, research analysts anticipate that Carrier Global will post 2.99 EPS for the current fiscal year.

Carrier Global declared that its board has authorized a share repurchase plan on Tuesday, October 28th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Carrier Global

Several hedge funds have recently bought and sold shares of CARR. Douglass Winthrop Advisors LLC lifted its position in shares of Carrier Global by 3.9% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 84,347 shares of the company’s stock worth $4,457,000 after buying an additional 3,166 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its stake in shares of Carrier Global by 1.9% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 54,450 shares of the company’s stock valued at $2,877,000 after acquiring an additional 1,025 shares in the last quarter. HRT Financial LP acquired a new stake in Carrier Global in the 4th quarter worth approximately $20,543,000. Brooklyn Investment Group lifted its holdings in Carrier Global by 25.2% in the 4th quarter. Brooklyn Investment Group now owns 9,040 shares of the company’s stock worth $485,000 after purchasing an additional 1,819 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. boosted its position in Carrier Global by 11.4% during the fourth quarter. Financial Engines Advisors L.L.C. now owns 5,538 shares of the company’s stock worth $293,000 after purchasing an additional 565 shares during the period. 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.