Rothschild & Co Redburn Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its target price cut by stock analysts at Rothschild & Co Redburn from $67.00 to $61.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the stock. Rothschild & Co Redburn’s price target indicates a potential upside of 6.23% from the company’s current price.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group decreased their price target on Carrier Global from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, December 16th. Barclays reduced their price objective on shares of Carrier Global from $74.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Wolfe Research dropped their target price on shares of Carrier Global from $74.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Citigroup cut their price target on shares of Carrier Global from $71.00 to $70.00 and set a “buy” rating for the company in a report on Monday, January 12th. Finally, Zacks Research raised shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, Carrier Global has a consensus rating of “Moderate Buy” and a consensus price target of $69.44.

Carrier Global Stock Performance

Shares of NYSE:CARR opened at $57.42 on Wednesday. Carrier Global has a 12-month low of $50.24 and a 12-month high of $81.09. The company’s 50 day moving average price is $53.85 and its two-hundred day moving average price is $60.65. The firm has a market cap of $48.36 billion, a PE ratio of 12.85, a PEG ratio of 2.32 and a beta of 1.31. The company has a quick ratio of 0.75, a current ratio of 1.14 and a debt-to-equity ratio of 0.76.

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

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CARR. Brighton Jones LLC grew its position in Carrier Global by 30.3% during the 4th quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock worth $543,000 after acquiring an additional 1,850 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Carrier Global by 51.5% during 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 in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Carrier Global by 13.2% during the second quarter. Farther Finance Advisors LLC now owns 10,943 shares of the company’s stock valued at $801,000 after purchasing an additional 1,279 shares in the last quarter. Opal Wealth Advisors LLC grew its holdings in shares of Carrier Global by 37.4% during the second quarter. Opal Wealth Advisors LLC now owns 2,761 shares of the company’s stock worth $202,000 after purchasing an additional 752 shares during the last quarter. Finally, Maseco LLP acquired a new position in shares of Carrier Global in the second quarter valued at approximately $62,000. 91.00% of the stock is currently 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.