Carrier Global Corporation [NYSE: CARR] surged by $0.54 during the normal trading session on Wednesday and reaching a high of $43.125 during the day while it closed the day at $43.06. The company report on April 21, 2021 that Carrier Launches New BluEdge Digital Service Offering.
New digital service offering to complement the existing BluEdge service platform.
Carrier continues to invest in digital technologies to better serve commercial HVAC customers around the globe and to help provide healthier, safer and more efficient buildings. In support of that, Carrier’s Commercial Service business is launching a new tiered service offering to complement its existing BluEdge service platform: BluEdge™ Digital. The new digital offering, which can stand alone or be added to existing BluEdge service agreements, connects customers’ equipment to Carrier’s cloud-based IoT platform, providing them with advanced analytics and actionable insights to visualize, advise and optimize machine health and life cycle outcomes. Carrier is a part of Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe and sustainable building and cold chain solutions.
Carrier Global Corporation stock has also loss -0.16% of its value over the past 7 days. However, CARR stock has inclined by 7.54% in the 3 months of the year. Over the past six months meanwhile, it has gained 33.23% and gained 14.16% year-on date.
The market cap for CARR stock reached $37.18 billion, with 869.28 million shares outstanding and 868.41 million shares in the current float. Compared to the average trading volume of 6.20M shares, CARR reached a trading volume of 4288030 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $45.86 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.
BofA Securities have made an estimate for Carrier Global Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 19, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price from $43 to $51. The new note on the price target was released on March 31, 2021, representing the official price target for Carrier Global Corporation stock. Previously, the target price had yet another raise from $41 to $53, while Morgan Stanley kept a Overweight rating on CARR stock. On March 10, 2021, analysts increased their price target for CARR shares from 40 to 43.
The Average True Range (ATR) for Carrier Global Corporation is set at 1.07, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 5.97, with the Price to Cash per share for the same quarter was set at 3.61. Price to Free Cash Flow for CARR in the course of the last twelve months was 28.34 with Quick ratio for the last quarter at 1.30.
CARR stock trade performance evaluation
Carrier Global Corporation [CARR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.16. With this latest performance, CARR shares gained by 3.98% in over the last four-week period, additionally plugging by 33.23% over the last 6 months – not to mention a rise of 193.12% 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 60.05, with the RSI for the last a single of trading hit 57.04, and the three-weeks RSI is set at 60.25 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 39.78, while it was recorded at 43.38 for the last single week of trading, and 35.15 for the last 200 days.
Carrier Global Corporation [CARR]: An insightful look at the core 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 per share (EPS) analysis for Carrier Global Corporation [CARR] stock
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%.
Carrier Global Corporation [CARR]: Insider Ownership positions
There are presently around $31,751 million, or 86.00% 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 0.06% of the total institutional ownership; STATE STREET CORP, holding 68,816,684 shares of the stock with an approximate value of $2.96 billion in CARR stocks shares; and BLACKROCK INC., currently with $2.9 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 April and at the time of the April reporting period, where 527 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 75,566,342 shares. Additionally, 583 investors decreased positions by around 57,343,208 shares, while 175 investors held positions by with 604,453,475 shares. The mentioned changes placed institutional holdings at 737,363,025 shares, according to the latest SEC report filing. CARR stock had 208 new institutional investments in for a total of 29,161,200 shares, while 64 institutional investors sold positions of 6,115,526 shares during the same period.