Carrier Global Corporation [NYSE: CARR] slipped around -0.14 points on Wednesday, while shares priced at $42.22 at the close of the session, down -0.33%. The company report on March 22, 2021 that Carrier Offers Solutions to Meet Increased COVID-19 Vaccine Distribution Demand.
With hundreds of millions of doses of the COVID-19 vaccine on order by the U.S. Government, Carrier Global Corporation (NYSE: CARR), the leading global provider of innovative healthy, safe and sustainable building and cold chain solutions, has solutions to support the increase in supply chain demands for states as they look to make doses available to every American adult by the end of May.
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Carrier, which has an industry-leading installed base of transport refrigeration equipment that can be used to safely move vaccines, also offers innovative mobile cold storage, temperature monitoring and supply chain visibility solutions that can be integrated with its Lynx™ digital platform, which is being co-developed with Amazon Web Services, to assist with growing vaccine distribution efforts.
Carrier Global Corporation stock is now 11.93% up from its year-to-date (YTD) trading value. CARR Stock saw the intraday high of $43.48 and lowest of $42.03 per share. The company’s 52-week high price is 42.98, which means current price is +23.41% above from all time high which was touched on 03/31/21.
Compared to the average trading volume of 5.82M shares, CARR reached a trading volume of 7296753 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $44.14 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 2.10. 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.
RBC Capital Mkts have made an estimate for Carrier Global Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 31, 2021. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $41 to $53. The new note on the price target was released on March 29, 2021, representing the official price target for Carrier Global Corporation stock. Previously, the target price had yet another raise from $40 to $43, while Cowen kept a Outperform rating on CARR stock.
The Average True Range (ATR) for Carrier Global Corporation is set at 1.28, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 2.06. The Price to Book ratio for the last quarter was 5.86, with the Price to Cash per share for the same quarter was set at 3.65. Price to Free Cash Flow for CARR in the course of the last twelve months was 27.47 with Quick ratio for the last quarter at 1.30.
How has CARR stock performed recently?
Carrier Global Corporation [CARR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.18. With this latest performance, CARR shares gained by 13.68% in over the last four-week period, additionally plugging by 38.43% over the last 6 months – not to mention a rise of 144.75% in the past year of trading.
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 66.50, with the RSI for the last a single of trading hit 70.55, and the three-weeks RSI is set at 63.16 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 38.57, while it was recorded at 41.67 for the last single week of trading, and 33.69 for the last 200 days.
Carrier Global Corporation [CARR]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Carrier Global Corporation [CARR] shares currently have an operating margin of +11.17 and a Gross Margin at +29.38. Carrier Global Corporation’s Net Margin is presently recorded at +11.35.
Return on Total Capital for CARR is now 11.74, given the latest momentum, and Return on Invested Capital for the company is 12.47. Return on Equity for this stock inclined to 19.48, with Return on Assets sitting at 8.35. When it comes to the capital structure of this company, Carrier Global Corporation [CARR] has a Total Debt to Total Equity ratio set at 176.42. Additionally, CARR Total Debt to Total Capital is recorded at 63.82, with Total Debt to Total Assets ending up at 43.96. Long-Term Debt to Equity for the company is recorded at 170.79, with the Long-Term Debt to Total Capital now at 61.79.
Reflecting on the efficiency of the workforce at the company, Carrier Global Corporation [CARR] managed to generate an average of $35,393 per employee. Receivables Turnover for the company is 5.15 with a Total Asset Turnover recorded at a value of 0.74.Carrier Global Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.70.
Earnings analysis for Carrier Global Corporation [CARR]
With the latest financial reports released by the company, Carrier Global Corporation posted 0.35/share EPS, while the average EPS was predicted by analysts to be reported at 0.33/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.10%. 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 5.53%.
Insider trade positions for Carrier Global Corporation [CARR]
There are presently around $31,075 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 88,148,053, which is approximately -1.668% of the company’s market cap and around 0.04% of the total institutional ownership; STATE STREET CORP, holding 68,816,684 shares of the stock with an approximate value of $2.91 billion in CARR stocks shares; and BLACKROCK INC., currently with $2.85 billion in CARR stock with ownership of nearly -8.902% of the company’s market capitalization.
Positions in Carrier Global Corporation stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 531 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 74,474,490 shares. Additionally, 581 investors decreased positions by around 57,487,777 shares, while 169 investors held positions by with 604,056,917 shares. The mentioned changes placed institutional holdings at 736,019,184 shares, according to the latest SEC report filing. CARR stock had 220 new institutional investments in for a total of 29,406,941 shares, while 67 institutional investors sold positions of 6,115,587 shares during the same period.