Barclays Cuts Carrier Global (NYSE:CARR) Price Target to $83.00

Carrier Global (NYSE:CARR) had its price objective cut by equities researchers at Barclays from $87.00 to $83.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 21.37% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Wolfe Research upgraded Carrier Global from a “peer perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Monday, February 24th. Royal Bank of Canada reduced their target price on Carrier Global from $86.00 to $76.00 and set an “outperform” rating for the company in a report on Wednesday, February 12th. Mizuho upgraded Carrier Global from a “neutral” rating to an “outperform” rating and set a $78.00 price target on the stock in a report on Friday, February 14th. Citigroup decreased their target price on Carrier Global from $94.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, Wells Fargo & Company cut their price target on shares of Carrier Global from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.27.

Carrier Global Stock Performance

NYSE:CARR opened at $68.39 on Wednesday. The firm has a market capitalization of $59.09 billion, a P/E ratio of 10.87, a P/E/G ratio of 2.01 and a beta of 1.35. Carrier Global has a twelve month low of $53.33 and a twelve month high of $83.32. The company has a fifty day moving average of $66.33 and a 200-day moving average of $71.94. The company has a quick ratio of 0.96, a current ratio of 1.25 and a debt-to-equity ratio of 0.77.

Carrier Global (NYSE:CARR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Carrier Global had a net margin of 23.83% and a return on equity of 18.82%. During the same quarter in the previous year, the firm posted $0.53 EPS. As a group, sell-side analysts anticipate that Carrier Global will post 2.99 EPS for the current year.

Institutional Investors Weigh In On Carrier Global

Large investors have recently added to or reduced their stakes in the business. Fire Capital Management LLC purchased a new stake in shares of Carrier Global in the 4th quarter valued at about $320,000. Wellington Management Group LLP increased its position in shares of Carrier Global by 303.1% in the fourth quarter. Wellington Management Group LLP now owns 181,661 shares of the company’s stock worth $12,400,000 after purchasing an additional 136,597 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in Carrier Global in the fourth quarter valued at approximately $35,000. Wealth Enhancement Advisory Services LLC lifted its position in Carrier Global by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 477,158 shares of the company’s stock valued at $32,571,000 after purchasing an additional 1,798 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new position in Carrier Global in the 4th quarter worth approximately $18,479,000. Institutional investors own 91.00% of the company’s stock.

About Carrier Global

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.