BofA Securities lifts Carrier Global Corporation [CARR] price estimate. Who else is bullish?

Carrier Global Corporation [NYSE: CARR] closed the trading session at $43.86 on 11/16/22. The day’s price range saw the stock hit a low of $43.54, while the highest price level was $44.50.


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The stocks have a year to date performance of -19.14 percent and weekly performance of 8.73 percent. The stock has been moved at 17.40 percent over the last six months. The stock has performed 20.76 percent around the most recent 30 days and changed -0.99 percent over the most recent 3-months.

If compared to the average trading volume of 4.57M shares, CARR reached to a volume of 2935834 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $44.58 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 2.40. 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 1.35, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 1.75. The Price to Book ratio for the last quarter was 5.15, with the Price to Cash per share for the same quarter was set at 3.65. Price to Free Cash Flow for CARR in the course of the last twelve months was 51.71 with Quick ratio for the last quarter at 1.20.

CARR stock trade performance evaluation

Carrier Global Corporation [CARR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.73. With this latest performance, CARR shares gained by 20.76% in over the last four-week period, additionally plugging by 17.40% over the last 6 months – not to mention a drop of -22.04% 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 66.78, with the RSI for the last a single of trading hit 69.03, and the three-weeks RSI is set at 63.73 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 38.36, while it was recorded at 43.95 for the last single week of trading, and 40.46 for the last 200 days.

Carrier Global Corporation [CARR]: An insightful look at the core 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 1.20 and a Current Ratio set at 1.60.

Earnings per share (EPS) analysis for Carrier Global Corporation [CARR] stock

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 9.50%.

Carrier Global Corporation [CARR]: Insider Ownership positions

There are presently around $31,820 million, or 88.10% of CARR stock, in the hands of institutional investors. The top three institutional holders of CARR stocks are: VANGUARD GROUP INC with ownership of 92,755,404, which is approximately 0.037% of the company’s market cap and around 0.09% of the total institutional ownership; CAPITAL RESEARCH GLOBAL INVESTORS, holding 82,377,349 shares of the stock with an approximate value of $3.61 billion in CARR stocks shares; and CAPITAL WORLD INVESTORS, currently with $3.3 billion in CARR stock with ownership of nearly -0.461% of the company’s market capitalization.

Positions in Carrier Global Corporation stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 465 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 31,237,641 shares. Additionally, 558 investors decreased positions by around 33,085,088 shares, while 229 investors held positions by with 661,170,492 shares. The mentioned changes placed institutional holdings at 725,493,221 shares, according to the latest SEC report filing. CARR stock had 79 new institutional investments in for a total of 5,889,486 shares, while 80 institutional investors sold positions of 2,496,789 shares during the same period.

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