Carrier Global (NYSE:CARR) Given New $72.00 Price Target at Citigroup

Carrier Global (NYSE:CARR - Get Free Report) had its price target lowered by investment analysts at Citigroup from $89.00 to $72.00 in a research note issued to investors on Monday, Marketbeat.com reports. The firm currently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 20.25% from the stock's current price.

A number of other analysts have also recently weighed in on the stock. Wolfe Research upgraded shares of Carrier Global from a "peer perform" rating to an "outperform" rating and set a $80.00 target price for the company in a report on Monday, February 24th. Barclays decreased their target price on Carrier Global from $87.00 to $83.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. 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 raised Carrier Global from a "neutral" rating to an "outperform" rating and set a $78.00 price target on the stock in a research note on Friday, February 14th. Finally, Wells Fargo & Company reduced their price objective on shares of Carrier Global from $75.00 to $70.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 12th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Carrier Global presently has a consensus rating of "Moderate Buy" and an average target price of $80.13.

Carrier Global Price Performance

Shares of CARR stock traded up $0.68 during mid-day trading on Monday, hitting $59.87. 3,714,343 shares of the stock traded hands, compared to its average volume of 4,529,254. Carrier Global has a twelve month low of $53.33 and a twelve month high of $83.32. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.25. The company's 50-day simple moving average is $63.76 and its 200-day simple moving average is $69.69. The firm has a market cap of $51.73 billion, a price-to-earnings ratio of 9.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.33.

Carrier Global (NYSE:CARR - Get Free Report) last released its earnings results 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 return on equity of 18.82% and a net margin of 23.83%. During the same quarter last year, the company earned $0.53 EPS. As a group, equities research analysts expect that Carrier Global will post 2.99 earnings per share for the current year.

Hedge Funds Weigh In On Carrier Global

Several hedge funds have recently bought and sold shares of the business. BOK Financial Private Wealth Inc. boosted its stake in shares of Carrier Global by 80.0% during the 4th quarter. BOK Financial Private Wealth Inc. now owns 360 shares of the company's stock worth $25,000 after acquiring an additional 160 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE lifted its holdings in Carrier Global by 90.0% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 380 shares of the company's stock worth $26,000 after purchasing an additional 180 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Carrier Global during the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $31,000. Finally, Mattson Financial Services LLC bought a new position in shares of Carrier Global in the fourth quarter valued at approximately $31,000. 91.00% of the stock is owned by institutional investors and hedge funds.

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.