Carrier Global Corporation [NYSE: CARR] stock went on a downward path that fall over -0.02% on Friday, amounting to a one-week price increase of more than 0.55%. The company report on May 18, 2021 that Carrier to Present at Wolfe Research Global Transportation and Industrials Conference.
Carrier Global Corporation (NYSE:CARR) Senior Vice President & Chief Financial Officer Patrick Goris will speak at the virtual Wolfe Research Global Transportation and Industrials Conference on Tuesday, May 25, 2021 at 11:10 a.m. ET.
The event will be broadcast live at ir.carrier.com. A webcast replay will be available on the website following the event.
Over the last 12 months, CARR stock rose by 125.60%. The one-year Carrier Global Corporation stock forecast points to a potential upside of 13.74. The average equity rating for CARR stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $38.14 billion, with 869.30 million shares outstanding and 868.72 million shares in the current float. Compared to the average trading volume of 6.23M shares, CARR stock reached a trading volume of 5536463 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $50.87 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 2.00. 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.
Atlantic Equities have made an estimate for Carrier Global Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 30, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on April 19, 2021, representing the official price target for Carrier Global Corporation stock. Previously, the target price had yet another raise from $43 to $51, while RBC Capital Mkts kept a Outperform rating on CARR stock. On March 29, 2021, analysts increased their price target for CARR shares from 41 to 53.
The Average True Range (ATR) for Carrier Global Corporation is set at 1.06, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 2.09. The Price to Book ratio for the last quarter was 5.88, with the Price to Cash per share for the same quarter was set at 2.99. Price to Free Cash Flow for CARR in the course of the last twelve months was 28.46 with Quick ratio for the last quarter at 1.30.
CARR Stock Performance Analysis:
Carrier Global Corporation [CARR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.55. With this latest performance, CARR shares gained by 1.83% in over the last four-week period, additionally plugging by 11.40% over the last 6 months – not to mention a rise of 125.60% 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 52.97, with the RSI for the last a single of trading hit 51.74, and the three-weeks RSI is set at 54.28 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 42.73, while it was recorded at 43.81 for the last single week of trading, and 37.10 for the last 200 days.
Insight into Carrier Global Corporation 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 1.60.
CARR Stock EPS
With the latest financial reports released by the company, Carrier Global Corporation posted 0.33/share EPS, while the average EPS was predicted by analysts to be reported at 0.25/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 32.00%. 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 17.20%.
Carrier Global Corporation [CARR] Insider Position Details
There are presently around $32,319 million, or 86.50% of CARR stock, in the hands of institutional investors. The top three institutional holders of CARR stocks are: VANGUARD GROUP INC with ownership of 89,217,748, which is approximately 1.214% of the company’s market cap and around 0.06% of the total institutional ownership; BLACKROCK INC., holding 65,748,128 shares of the stock with an approximate value of $2.89 billion in CARR stocks shares; and STATE STREET CORP, currently with $2.47 billion in CARR stock with ownership of nearly -18.343% 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 477 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 86,828,280 shares. Additionally, 630 investors decreased positions by around 80,366,820 shares, while 208 investors held positions by with 569,344,960 shares. The mentioned changes placed institutional holdings at 736,540,060 shares, according to the latest SEC report filing. CARR stock had 107 new institutional investments in for a total of 12,825,878 shares, while 102 institutional investors sold positions of 7,270,057 shares during the same period.