For Carrier Global Corporation [CARR], Analyst sees a rise to $53. What next?

Carrier Global Corporation [NYSE: CARR] gained 1.10% or 0.55 points to close at $50.45 with a heavy trading volume of 3932765 shares. The company report on July 15, 2021 that Carrier Global Corporation Announces Timothy N. White as President, Refrigeration.

David Appel to lead Commercial Refrigeration.

Carrier Global Corporation (NYSE: CARR) announced that Timothy N. White (48) has been named President of its Refrigeration segment, effective August 16, 2021. White will succeed David Appel (65) who will remain with the Company and take on a key leadership role within the Refrigeration segment, leading the Commercial Refrigeration business.

It opened the trading session at $50.02, the shares rose to $50.59 and dropped to $49.94, the range by which the price of stock traded the whole day. The daily chart for CARR points out that the company has recorded 26.00% gains over the past six months. However, it is still -97.07% lower than its most recent low trading price.

If we look at the average trading volume of 5.46M shares, CARR reached to a volume of 3932765 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 $51.56 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.

Deutsche Bank have made an estimate for Carrier Global Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 23, 2021. The new note on the price target was released on April 30, 2021, representing the official price target for Carrier Global Corporation stock. Previously, the target price had yet another raise to $57, while BofA Securities analysts kept a Buy rating on CARR stock. On March 31, 2021, analysts increased their price target for CARR shares from 43 to 51.

The Average True Range (ATR) for Carrier Global Corporation is set at 1.00, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 2.42. The Price to Book ratio for the last quarter was 6.76, with the Price to Cash per share for the same quarter was set at 2.96. Price to Free Cash Flow for CARR in the course of the last twelve months was 33.04 with Quick ratio for the last quarter at 1.30.

Trading performance analysis for CARR stock

Carrier Global Corporation [CARR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.96. With this latest performance, CARR shares gained by 8.49% in over the last four-week period, additionally plugging by 26.00% over the last 6 months – not to mention a rise of 89.88% 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 66.03, with the RSI for the last a single of trading hit 67.71, and the three-weeks RSI is set at 64.75 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 46.53, while it was recorded at 49.45 for the last single week of trading, and 40.63 for the last 200 days.

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 +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.

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 17.32%.

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

There are presently around $37,257 million, or 86.40% 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 0.07% of the total institutional ownership; BLACKROCK INC., holding 65,748,128 shares of the stock with an approximate value of $3.32 billion in CARR stocks shares; and STATE STREET CORP, currently with $2.83 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 July and at the time of the July reporting period, where 493 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 83,645,748 shares. Additionally, 612 investors decreased positions by around 78,570,569 shares, while 222 investors held positions by with 576,276,975 shares. The mentioned changes placed institutional holdings at 738,493,292 shares, according to the latest SEC report filing. CARR stock had 111 new institutional investments in for a total of 13,649,606 shares, while 100 institutional investors sold positions of 7,198,011 shares during the same period.

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