Carrier Global Corporation [CARR] Revenue clocked in at $20.57 billion, down -33.65% YTD: What’s Next?


Carrier Global Corporation [NYSE: CARR] loss -0.33% or -0.12 points to close at $35.99 with a heavy trading volume of 5270749 shares. The company report on June 16, 2022 that Carrier and P&G Join Forces to Create Healthier Homes.

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Collaboration to drive education, innovation and integrated solutions for improved indoor air quality and home safety.

Carrier Global Corporation, through its indoor air quality and Kidde safety brands, and The Procter & Gamble Company’s portfolio of Home Care brands, including Swiffer and Febreze, are announcing a collaborative effort to improve access to education and tools needed to create safer and healthier homes.

It opened the trading session at $36.23, the shares rose to $36.98 and dropped to $35.91, the range by which the price of stock traded the whole day. The daily chart for CARR points out that the company has recorded -32.77% loss over the past six months. However, it is still -5.48% lower than its most recent low trading price.

If we look at the average trading volume of 5.05M shares, CARR reached to a volume of 5270749 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 $48.24 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 2.30. 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 Neutral, with their previous recommendation back on May 18, 2022. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $56 to $50. The new note on the price target was released on February 09, 2022, representing the official price target for Carrier Global Corporation stock. Previously, the target price had yet another drop from $58 to $54, while Morgan Stanley kept a Overweight rating on CARR stock. On February 09, 2022, analysts decreased their price target for CARR shares from 57 to 50.

The Average True Range (ATR) for Carrier Global Corporation is set at 1.13, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 1.42. The Price to Book ratio for the last quarter was 4.33, with the Price to Cash per share for the same quarter was set at 4.43. Price to Free Cash Flow for CARR in the course of the last twelve months was 27.57 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 2.80. With this latest performance, CARR shares dropped by -8.49% in over the last four-week period, additionally sinking by -32.77% over the last 6 months – not to mention a drop of -24.83% 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 42.56, with the RSI for the last a single of trading hit 44.53, and the three-weeks RSI is set at 41.91 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 38.56, while it was recorded at 35.60 for the last single week of trading, and 47.43 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 +12.07 and a Gross Margin at +29.15. Carrier Global Corporation’s Net Margin is presently recorded at +8.07.

Return on Equity for this stock inclined to 25.56, with Return on Assets sitting at 6.49.

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.

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 10.48%.

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

There are presently around $26,784 million, or 88.70% of CARR stock, in the hands of institutional investors. The top three institutional holders of CARR stocks are: VANGUARD GROUP INC with ownership of 91,919,595, which is approximately 0.639% of the company’s market cap and around 0.08% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 82,087,040 shares of the stock with an approximate value of $2.96 billion in CARR stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $2.85 billion in CARR stock with ownership of nearly 13.631% 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 468 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 50,455,843 shares. Additionally, 730 investors decreased positions by around 47,736,771 shares, while 232 investors held positions by with 643,533,773 shares. The mentioned changes placed institutional holdings at 741,726,387 shares, according to the latest SEC report filing. CARR stock had 92 new institutional investments in for a total of 3,653,724 shares, while 153 institutional investors sold positions of 2,340,244 shares during the same period.