Barclays Issues Positive Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its target price increased by equities research analysts at Barclays from $89.00 to $92.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 23.01% from the company’s current price.

CARR has been the subject of a number of other reports. Royal Bank of Canada lowered their target price on shares of Carrier Global from $91.00 to $87.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. UBS Group raised shares of Carrier Global from a “neutral” rating to a “buy” rating and set a $94.00 price target for the company in a report on Wednesday, November 13th. JPMorgan Chase & Co. assumed coverage on shares of Carrier Global in a report on Thursday, October 10th. They set a “neutral” rating and a $83.00 target price for the company. Mizuho raised their price target on shares of Carrier Global from $65.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Oppenheimer boosted their price objective on Carrier Global from $74.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Carrier Global currently has a consensus rating of “Moderate Buy” and an average price target of $82.54.

Carrier Global Price Performance

Shares of CARR traded down $0.59 during trading hours on Thursday, reaching $74.79. 386,200 shares of the stock traded hands, compared to its average volume of 4,191,896. The company’s 50-day moving average price is $77.47 and its two-hundred day moving average price is $70.93. The company has a market cap of $67.10 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 2.80 and a beta of 1.33. Carrier Global has a 52-week low of $52.54 and a 52-week high of $83.32. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.69.

Carrier Global announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 24th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 4.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new position in Carrier Global during the 3rd quarter worth $28,000. Meeder Asset Management Inc. raised its stake in shares of Carrier Global by 675.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 465 shares of the company’s stock worth $29,000 after buying an additional 405 shares in the last quarter. EdgeRock Capital LLC acquired a new stake in shares of Carrier Global in the 2nd quarter valued at approximately $32,000. Hantz Financial Services Inc. purchased a new position in Carrier Global in the second quarter worth $35,000. Finally, McClarren Financial Advisors Inc. lifted its holdings in Carrier Global by 246.0% in the third quarter. McClarren Financial Advisors Inc. now owns 436 shares of the company’s stock valued at $35,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds 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.