Carrier Global (NYSE:CARR) Given New $87.00 Price Target at Barclays

Carrier Global (NYSE:CARR) had its price target lowered by equities researchers at Barclays from $90.00 to $87.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 33.21% from the company’s current price.

Several other equities research analysts have also commented on the company. JPMorgan Chase & Co. cut their price objective on Carrier Global from $83.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. The Goldman Sachs Group assumed coverage on Carrier Global in a research report on Thursday, December 12th. They set a “buy” rating and a $96.00 price target for the company. Citigroup decreased their price objective on Carrier Global from $94.00 to $90.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Stephens dropped their target price on shares of Carrier Global from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Monday, October 28th. Finally, Royal Bank of Canada decreased their price target on shares of Carrier Global from $87.00 to $86.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.71.

Carrier Global Trading Down 1.4 %

Shares of NYSE:CARR opened at $65.31 on Wednesday. The firm has a market capitalization of $58.60 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.11 and a beta of 1.35. The business’s 50 day moving average price is $68.99 and its 200-day moving average price is $72.41. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. Carrier Global has a 1 year low of $53.13 and a 1 year high of $83.32.

Carrier Global (NYSE:CARR) last announced its earnings results on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Carrier Global had a net margin of 14.98% and a return on equity of 20.52%. During the same period last year, the business earned $0.53 EPS. On average, equities research analysts forecast that Carrier Global will post 2.52 earnings per share for the current fiscal year.

Carrier Global announced that its board has approved a share buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Carrier Global

A number of hedge funds have recently modified their holdings of CARR. FSA Wealth Management LLC acquired a new position in Carrier Global in the third quarter valued at about $28,000. BOK Financial Private Wealth Inc. raised its stake in shares of Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company’s stock valued at $25,000 after acquiring an additional 160 shares during the period. McClarren Financial Advisors Inc. lifted its holdings in shares of Carrier Global by 246.0% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock worth $35,000 after acquiring an additional 310 shares during the last quarter. Coastline Trust Co purchased a new position in shares of Carrier Global during the 3rd quarter worth approximately $37,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in Carrier Global in the 4th quarter valued at approximately $31,000. 91.00% of the stock is currently owned by hedge funds and other institutional investors.

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.