Barclays Cuts Carrier Global (NYSE:CARR) Price Target to $87.00

Carrier Global (NYSE:CARR - Get Free Report) had its target price reduced by Barclays from $90.00 to $87.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 33.45% from the company's previous close.

Several other brokerages have also recently commented on CARR. Citigroup dropped their price target 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. Stephens dropped their price target on Carrier Global from $85.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, October 28th. UBS Group upgraded Carrier Global from a "neutral" rating to a "buy" rating and set a $94.00 price target for the company in a research report on Wednesday, November 13th. Royal Bank of Canada dropped their price target on Carrier Global from $87.00 to $86.00 and set an "outperform" rating for the company in a research report on Friday, January 3rd. Finally, Northcoast Research began coverage on Carrier Global in a research report on Friday, November 22nd. They set a "neutral" rating for the company. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $82.64.

Carrier Global Price Performance

Shares of Carrier Global stock traded up $1.52 on Wednesday, reaching $65.19. The company's stock had a trading volume of 6,750,573 shares, compared to its average volume of 5,689,759. The company has a market capitalization of $58.49 billion, a P/E ratio of 16.50, a PEG ratio of 2.11 and a beta of 1.35. Carrier Global has a 52-week low of $53.13 and a 52-week high of $83.32. The stock has a 50-day moving average price of $68.17 and a 200-day moving average price of $72.26. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.69.

Carrier Global (NYSE:CARR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Carrier Global had a return on equity of 20.52% and a net margin of 14.98%. During the same period in the previous year, the firm earned $0.53 earnings per share. Analysts expect that Carrier Global will post 2.52 EPS for the current year.

Carrier Global declared that its Board of Directors has approved a stock buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Carrier Global

Several large investors have recently modified their holdings of CARR. BOK Financial Private Wealth Inc. lifted its stake in shares of Carrier Global by 80.0% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock valued at $25,000 after purchasing an additional 160 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its stake in shares of Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. FSA Wealth Management LLC acquired a new position in shares of Carrier Global in the 3rd quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Carrier Global in the 4th quarter valued at $31,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Carrier Global by 236.1% in the 4th quarter. Meeder Asset Management Inc. now owns 484 shares of the company's stock valued at $33,000 after buying an additional 340 shares during the period. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Company Profile

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.