Royal Bank Of Canada Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its target price decreased by investment analysts at Royal Bank Of Canada from $74.00 to $68.00 in a research note issued on Wednesday,MarketScreener reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 10.76% from the company’s current price.

CARR has been the subject of a number of other reports. Wolfe Research raised their price target on Carrier Global from $71.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Morgan Stanley set a $55.00 target price on Carrier Global in a research note on Thursday, January 8th. UBS Group reduced their target price on Carrier Global from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. JPMorgan Chase & Co. increased their target price on Carrier Global from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Finally, Wells Fargo & Company reduced their target price on Carrier Global from $65.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 1st. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $69.93.

Carrier Global Stock Up 5.3%

Shares of CARR opened at $61.40 on Wednesday. The company has a market cap of $51.29 billion, a PE ratio of 35.90, a P/E/G ratio of 2.38 and a beta of 1.32. The business has a fifty day moving average of $60.32 and a 200 day moving average of $57.40. Carrier Global has a 52-week low of $50.24 and a 52-week high of $81.09. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.80.

Carrier Global (NYSE:CARR) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $5.05 billion. Carrier Global had a return on equity of 15.30% and a net margin of 6.82%.The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, sell-side analysts expect that Carrier Global will post 2.99 EPS for the current year.

Hedge Funds Weigh In On Carrier Global

Several institutional investors have recently made changes to their positions in CARR. Brighton Jones LLC increased its stake in shares of Carrier Global by 30.3% during the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after buying an additional 1,850 shares during the period. AQR Capital Management LLC grew its stake in Carrier Global by 51.5% in the first quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock valued at $4,236,000 after purchasing an additional 23,200 shares during the last quarter. United Bank grew its stake in Carrier Global by 41.2% in the second quarter. United Bank now owns 16,991 shares of the company’s stock valued at $1,244,000 after purchasing an additional 4,956 shares during the last quarter. Schnieders Capital Management LLC. grew its stake in Carrier Global by 33.7% in the second quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company’s stock valued at $1,242,000 after purchasing an additional 4,277 shares during the last quarter. Finally, Guggenheim Capital LLC grew its stake in Carrier Global by 6.0% in the second quarter. Guggenheim Capital LLC now owns 9,903 shares of the company’s stock valued at $725,000 after purchasing an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

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.