Carrier Global Corp [CARR] is -6.41% lower this YTD. Is it still time to buy?

Carrier Global Corp [NYSE: CARR] stock went on an upward path that rose over 0.64% on Wednesday, amounting to a one-week price decrease of less than -0.37%. The company report on February 20, 2024 at 8:22 PM that Alat and Carrier Partner to Advance Climate and Energy Solutions in the Kingdom of Saudi Arabia.

Agreement includes development of a cutting-edge manufacturing and R&D center expected to create more than 5,000 local jobs.

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Alat (Alat), a PIF company, and Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced their commitment to build a cutting-edge manufacturing and R&D facility in Saudi Arabia that will deliver advanced heating, ventilation and air conditioning (HVAC) solutions. The partnership will serve customers in the Kingdom, and its visionary Giga projects, such as NEOM, as well as ensure broader regional – and even global – distribution. Alat was established on February 1, 2023, by His Royal Highness Prince Mohammed bin Salman Abdulaziz Al Saud, Crown Prince and Prime Minister, Chairman of the Board of Directors of Alat.

Over the last 12 months, CARR stock rose by 18.91%. The one-year Carrier Global Corp stock forecast points to a potential upside of 12.24. The average equity rating for CARR stock is currently 2.39, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $48.30 billion, with 839.91 million shares outstanding and 833.09 million shares in the current float. Compared to the average trading volume of 3.95M shares, CARR stock reached a trading volume of 4205894 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $61.27 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 2.39. 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 new note on the price target was released on October 06, 2023, representing the official price target for Carrier Global Corp stock. Previously, the target price had yet another drop from $62 to $55, while BofA Securities kept a Underperform rating on CARR stock. On September 14, 2023, analysts decreased their price target for CARR shares from 63 to 61.

The Average True Range (ATR) for Carrier Global Corp is set at 1.38, with the Price to Sales ratio for CARR stock in the period of the last 12 months amounting to 2.19. The Price to Book ratio for the last quarter was 5.20, with the Price to Cash per share for the same quarter was set at 11.15. Price to Free Cash Flow for CARR in the course of the last twelve months was 22.59 with Quick ratio for the last quarter at 2.40.

CARR Stock Performance Analysis:

Carrier Global Corp [CARR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.37. With this latest performance, CARR shares dropped by -4.53% in over the last four-week period, additionally plugging by 0.37% over the last 6 months – not to mention a rise of 18.91% 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 44.03, with the RSI for the last a single of trading hit 42.26, and the three-weeks RSI is set at 45.65 for Carrier Global Corp [CARR]. The present Moving Average for the last 50 days of trading for this stock 55.96, while it was recorded at 54.45 for the last single week of trading, and 52.42 for the last 200 days.

Insight into Carrier Global Corp Fundamentals:

Carrier Global Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.73.


With the latest financial reports released by the company, Carrier Global Corp posted 0.52/share EPS, while the average EPS was predicted by analysts to be reported at 0.48/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.30%. 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 9.27%.

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%.