Carrier Global Corporation [CARR] is -29.44% lower this YTD. Is it still time to buy?

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Carrier Global Corporation [NYSE: CARR] stock went on an upward path that rose over 2.35% on Thursday, amounting to a one-week price increase of more than 7.47%. The company report on July 11, 2022 that Carrier to Offer Cooling-as-a-Service for the FNB Financial Center.


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Carrier solution will enable a high-efficiency HVAC system, reliable and resilient long-term operations and productive cost performance backed by Carrier expertise.

Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, has entered into an agreement with Office Partners XXIII Block G1 LLC (Office Partners) to design, build, own and operate the heating and air conditioning plant at the new FNB Financial Center in Pittsburgh. Carrier will provide a turnkey high-efficiency heating and cooling plant for the new building that will contribute to the building’s targeted LEED Silver rating. Supported by its advanced Abound digital controls and BluEdge services capabilities, Carrier’s Cooling-as-a-Service offering will deliver high energy efficiency, uptime and comfort over the life of the contract while reducing operational cost risk for the building owner. Office Partners, the owner and development company for FNB Financial Center, is comprised of the Buccini/Pollin Group (BPG), the Pittsburgh Penguins and other investors.

Over the last 12 months, CARR stock dropped by -24.14%. The one-year Carrier Global Corporation stock forecast points to a potential upside of 16.97. The average equity rating for CARR stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $32.11 billion, with 853.30 million shares outstanding and 847.48 million shares in the current float. Compared to the average trading volume of 5.14M shares, CARR stock reached a trading volume of 2793260 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 $46.09 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 1.02, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 1.56. The Price to Book ratio for the last quarter was 4.60, with the Price to Cash per share for the same quarter was set at 4.30. Price to Free Cash Flow for CARR in the course of the last twelve months was 30.24 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 7.47. With this latest performance, CARR shares gained by 9.31% in over the last four-week period, additionally sinking by -21.56% over the last 6 months – not to mention a drop of -24.14% 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 61.62, with the RSI for the last a single of trading hit 70.55, and the three-weeks RSI is set at 55.55 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 37.33, while it was recorded at 36.88 for the last single week of trading, and 46.06 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 +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.

CARR Stock EPS

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 7.50%.

Carrier Global Corporation [CARR] Insider Position Details

There are presently around $27,677 million, or 89.30% 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 $3.07 billion in CARR stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $2.95 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 July and at the time of the July reporting period, where 454 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 50,088,443 shares. Additionally, 711 investors decreased positions by around 47,178,155 shares, while 238 investors held positions by with 642,954,543 shares. The mentioned changes placed institutional holdings at 740,221,141 shares, according to the latest SEC report filing. CARR stock had 83 new institutional investments in for a total of 3,538,144 shares, while 147 institutional investors sold positions of 2,145,414 shares during the same period.

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