Carrier Global Corp [NYSE: CARR] price plunged by -0.32 percent to reach at -$0.18. The company report on January 8, 2024 at 9:00 AM that Carrier Signs Agreement with Montana Technologies to Commercialize Carbon-Reducing Cooling Technology for HVAC Solutions.
Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced entry into a binding term sheet with Montana Technologies LLC (“Montana”) to develop and commercialize Montana’s transformational AirJoule dehumidification and cooling technology. In addition, Carrier has conditionally committed $10 million in growth equity into Montana to foster commercialization of AirJoule.
AirJoule’s dehumidification technology substantially improves air conditioning efficiency by harvesting water and thermal energy from air. The proprietary method and design can reduce electricity consumption as compared to conventional air conditioning cooling systems, resulting in a corresponding reduction in carbon emissions as well as a reduction, or in some cases elimination, of refrigerants.
A sum of 3089078 shares traded at recent session while its average daily volume was at 4.31M shares. Carrier Global Corp shares reached a high of $57.11 and dropped to a low of $56.17 until finishing in the latest session at $56.86.
The one-year CARR stock forecast points to a potential upside of 4.57. The average equity rating for CARR stock is currently 2.36, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Carrier Global Corp [CARR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CARR shares is $59.58 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 2.36. 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.
Wolfe Research have made an estimate for Carrier Global Corp shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on October 12, 2023.
The Average True Range (ATR) for Carrier Global Corp is set at 1.14, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 5.83, with the Price to Cash per share for the same quarter was set at 4.66. Price to Free Cash Flow for CARR in the course of the last twelve months was 20.82 with Quick ratio for the last quarter at 1.25.
CARR Stock Performance Analysis:
Carrier Global Corp [CARR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.49. With this latest performance, CARR shares gained by 1.63% in over the last four-week period, additionally plugging by 7.04% over the last 6 months – not to mention a rise of 29.23% 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 56.53, with the RSI for the last a single of trading hit 55.92, and the three-weeks RSI is set at 56.50 for Carrier Global Corp [CARR]. The present Moving Average for the last 50 days of trading for this stock 54.04, while it was recorded at 56.57 for the last single week of trading, and 50.80 for the last 200 days.
Insight into Carrier Global Corp Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Carrier Global Corp [CARR] shares currently have an operating margin of +20.98 and a Gross Margin at +26.80. Carrier Global Corp’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 Corp [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 Corp [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 Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.25 and a Current Ratio set at 1.66.
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 Corp go to 9.91%.
Carrier Global Corp [CARR] Institutonal Ownership Details
The top three institutional holders of CARR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CARR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CARR stock with ownership which is approximately 5.8325%.