Carrier Global Corporation [CARR] Stock trading around $46.11 per share: What’s Next?

Carrier Global Corporation [NYSE: CARR] stock went on a downward path that fall over -0.84% on Tuesday, amounting to a one-week price decrease of less than -0.90%. The company report on June 17, 2021 that Study Finds Carrier Air Purifiers Can Create Healthier Classrooms.

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Air quality improvements can be achieved cost-effectively and quickly through Carrier’s Healthy Buildings Program solutions.

An ongoing study by the University of Colorado Boulder demonstrated that Carrier air purifiers are able to sustain significantly reduced levels of airborne particles – between 42 – 67% lower on average – in occupied K-12 classrooms with older, outdated HVAC equipment. According to the EPA, exposure to airborne particles, also known as particulate matter (PM), can have a negative effect on health, particularly to the lungs and heart. These findings are especially notable for school districts with aging infrastructure that are aiming to improve classroom air quality without replacing or modifying existing systems. The results are based on independent testing at a public school located in Denver, Colorado. Carrier is a part of Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe and sustainable building and cold chain solutions.

Over the last 12 months, CARR stock rose by 102.77%. The one-year Carrier Global Corporation stock forecast points to a potential upside of 9.94. 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 $41.03 billion, with 869.30 million shares outstanding and 868.43 million shares in the current float. Compared to the average trading volume of 6.17M shares, CARR stock reached a trading volume of 4027874 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 $51.20 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 0.89, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 2.25. The Price to Book ratio for the last quarter was 6.18, with the Price to Cash per share for the same quarter was set at 2.92. Price to Free Cash Flow for CARR in the course of the last twelve months was 30.62 with Quick ratio for the last quarter at 1.30.

CARR Stock Performance Analysis:

Carrier Global Corporation [CARR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.90. With this latest performance, CARR shares gained by 5.08% in over the last four-week period, additionally plugging by 18.87% over the last 6 months – not to mention a rise of 102.77% 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 54.57, with the RSI for the last a single of trading hit 52.65, and the three-weeks RSI is set at 55.78 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 44.66, while it was recorded at 46.14 for the last single week of trading, and 38.79 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 $33,959 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 $3.03 billion in CARR stocks shares; and STATE STREET CORP, currently with $2.59 billion in CARR stock with ownership of nearly -18.343% 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 April and at the time of the April reporting period, where 476 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 87,112,385 shares. Additionally, 635 investors decreased positions by around 78,770,091 shares, while 208 investors held positions by with 570,605,210 shares. The mentioned changes placed institutional holdings at 736,487,686 shares, according to the latest SEC report filing. CARR stock had 106 new institutional investments in for a total of 12,802,702 shares, while 103 institutional investors sold positions of 7,281,729 shares during the same period.

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