Carrier Global Corporation [NYSE: CARR] gained 0.47% or 0.21 points to close at $45.20 with a heavy trading volume of 4191724 shares. The company report on March 20, 2023 that Carrier Named Best HVAC Company by U.S. News & World Report for Second Consecutive Year.
Carrier brands again hold first and second place on 2023 list.
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Carrier has been named the best HVAC company of 2023 by U.S. News & World Report’s 360 Reviews team. This is the second consecutive year that Carrier ranked No. 1 and its Bryant brand ranked No. 2. Both are part of Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions.
It opened the trading session at $45.61, the shares rose to $45.957 and dropped to $44.97, the range by which the price of stock traded the whole day. The daily chart for CARR points out that the company has recorded 16.43% gains over the past six months. However, it is still -36.56% lower than its most recent low trading price.
If we look at the average trading volume of 4.26M shares, CARR reached to a volume of 4191724 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 $49.39 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.
Mizuho have made an estimate for Carrier Global Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 13, 2023. The new note on the price target was released on December 13, 2022, representing the official price target for Carrier Global Corporation stock. On February 09, 2022, analysts decreased their price target for CARR shares from 56 to 50.
The Average True Range (ATR) for Carrier Global Corporation is set at 1.39, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 1.88. The Price to Book ratio for the last quarter was 4.87, with the Price to Cash per share for the same quarter was set at 4.15. Price to Free Cash Flow for CARR in the course of the last twelve months was 43.55 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for CARR stock
Carrier Global Corporation [CARR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.20. With this latest performance, CARR shares dropped by -0.04% in over the last four-week period, additionally plugging by 16.43% over the last 6 months – not to mention a drop of -5.40% 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 50.09, with the RSI for the last a single of trading hit 49.88, and the three-weeks RSI is set at 50.78 for Carrier Global Corporation [CARR]. The present Moving Average for the last 50 days of trading for this stock 44.98, while it was recorded at 44.35 for the last single week of trading, and 40.96 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 +20.98 and a Gross Margin at +26.80. Carrier Global Corporation’s Net Margin is presently recorded at +17.31.
Return on Total Capital for CARR is now 24.65, given the latest momentum, and Return on Invested Capital for the company is 20.91. Return on Equity for this stock inclined to 48.66, with Return on Assets sitting at 13.53. When it comes to the capital structure of this company, Carrier Global Corporation [CARR] has a Total Debt to Total Equity ratio set at 120.79. Additionally, CARR Total Debt to Total Capital is recorded at 54.71, with Total Debt to Total Assets ending up at 35.92. Long-Term Debt to Equity for the company is recorded at 118.99, with the Long-Term Debt to Total Capital now at 53.89.
Reflecting on the efficiency of the workforce at the company, Carrier Global Corporation [CARR] managed to generate an average of $67,962 per employee. Receivables Turnover for the company is 6.51 with a Total Asset Turnover recorded at a value of 0.78.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.
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 14.00%.
An analysis of insider ownership at Carrier Global Corporation [CARR]
There are presently around $32,632 million, or 87.90% of CARR stock, in the hands of institutional investors. The top three institutional holders of CARR stocks are: VANGUARD GROUP INC with ownership of 93,020,286, which is approximately 0.286% of the company’s market cap and around 0.10% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 80,989,207 shares of the stock with an approximate value of $3.66 billion in CARR stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $3.53 billion in CARR stock with ownership of nearly -5.11% of the company’s market capitalization.
Positions in Carrier Global Corporation stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 545 institutional holders increased their position in Carrier Global Corporation [NYSE:CARR] by around 29,553,281 shares. Additionally, 530 investors decreased positions by around 33,023,499 shares, while 233 investors held positions by with 659,360,604 shares. The mentioned changes placed institutional holdings at 721,937,384 shares, according to the latest SEC report filing. CARR stock had 147 new institutional investments in for a total of 4,886,996 shares, while 71 institutional investors sold positions of 3,872,522 shares during the same period.