Monday, January 18, 2021

For Carrier Global Corporation [CARR], Analyst sees a rise to $45. What next?

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Carrier Global Corporation [NYSE: CARR] loss -1.93% on the last trading session, reaching $38.61 price per share at the time. The company report on November 24, 2020 that Carrier to Participate in Credit Suisse Virtual Industrials Conference.

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Carrier Global Corporation (NYSE:CARR) President & Chief Executive Officer Dave Gitlin and Senior Vice President & Chief Financial Officer Patrick Goris will participate in a fireside chat at the Credit Suisse 8th Annual Virtual Industrials Conference on Thursday, Dec. 3 at 1:50 p.m. Eastern Time.


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The event will be broadcast live at ir.carrier.com. A webcast replay will be available on the website following the event.

Carrier Global Corporation represents 866.40 million in outstanding shares, while the company has a total market value of $33.98 billion with the latest information. CARR stock price has been found in the range of $38.52 to $39.24.

If compared to the average trading volume of 4.96M shares, CARR reached a trading volume of 4255757 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Carrier Global Corporation [CARR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CARR shares is $39.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CARR stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stephens have made an estimate for Carrier Global Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 16, 2020. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on October 13, 2020, representing the official price target for Carrier Global Corporation stock. Previously, the target price had yet another raise to $35, while Goldman analysts kept a Buy rating on CARR stock.

The Average True Range (ATR) for Carrier Global Corporation is set at 1.25, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 1.91. The Price to Book ratio for the last quarter was 6.57, with the Price to Cash per share for the same quarter was set at 4.37. Price to Free Cash Flow for CARR in the course of the last twelve months was 18.38 with Quick ratio for the last quarter at 1.50.

Trading performance analysis for CARR stock

Carrier Global Corporation [CARR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.98. With this latest performance, CARR shares gained by 14.91% in over the last four-week period, additionally plugging by 88.62% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CARR stock in for the last two-week period is set at 60.05, with the RSI for the last a single of trading hit 54.93, and the three-weeks RSI is set at 61.37 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 34.30, while it was recorded at 38.88 for the last single week of trading.

Carrier Global Corporation [CARR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Carrier Global Corporation [CARR] shares currently have an operating margin of +13.84 and a Gross Margin at +29.32. Carrier Global Corporation’s Net Margin is presently recorded at +11.37.

Return on Total Capital for CARR is now 17.09, given the latest momentum, and Return on Invested Capital for the company is 14.63. Return on Equity for this stock inclined to 15.10, with Return on Assets sitting at 9.59. When it comes to the capital structure of this company, Carrier Global Corporation [CARR] has a Total Debt to Total Equity ratio set at 8.22. Additionally, CARR Total Debt to Total Capital is recorded at 7.59, with Total Debt to Total Assets ending up at 5.17. Long-Term Debt to Equity for the company is recorded at 5.40, with the Long-Term Debt to Total Capital now at 4.99.

Reflecting on the efficiency of the workforce at the company, Carrier Global Corporation [CARR] managed to generate an average of $40,201 per employee. Receivables Turnover for the company is 5.65 with a Total Asset Turnover recorded at a value of 0.84.Carrier Global Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.80.

Carrier Global Corporation [CARR]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CARR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Carrier Global Corporation go to -4.62%.

An analysis of insider ownership at Carrier Global Corporation [CARR]

There are presently around $27,752 million, or 85.90% of CARR stock, in the hands of institutional investors. The top three institutional holders of CARR stocks are: VANGUARD GROUP INC with ownership of 89,643,399, which is approximately -3.407% of the company’s market cap and around 0.04% of the total institutional ownership; BLACKROCK INC., holding 74,005,484 shares of the stock with an approximate value of $2.86 billion in CARR stocks shares; and STATE STREET CORP, currently with $2.82 billion in CARR stock with ownership of nearly 0.41% of the company’s market capitalization.

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Positions in Carrier Global Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 402 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 70,327,565 shares. Additionally, 601 investors decreased positions by around 77,375,521 shares, while 137 investors held positions by with 571,082,067 shares. The mentioned changes placed institutional holdings at 718,785,153 shares, according to the latest SEC report filing. CARR stock had 171 new institutional investments in for a total of 19,665,678 shares, while 78 institutional investors sold positions of 12,582,970 shares during the same period.

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