Robert W. Baird Issues Pessimistic Forecast for Carrier Global (NYSE:CARR) Stock Price

Carrier Global (NYSE:CARR) had its price target cut by equities researchers at Robert W. Baird from $72.00 to $70.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird‘s target price would indicate a potential upside of 30.97% from the stock’s previous close.

CARR has been the topic of a number of other research reports. Sanford C. Bernstein dropped their target price on Carrier Global from $78.00 to $64.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 7th. BNP Paribas Exane reduced their price target on Carrier Global from $68.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday. JPMorgan Chase & Co. decreased their price target on shares of Carrier Global from $61.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday. Citigroup cut their price objective on shares of Carrier Global from $80.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Mizuho decreased their target price on shares of Carrier Global from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Carrier Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.27.

Carrier Global Price Performance

Shares of NYSE CARR opened at $53.45 on Monday. The company has a fifty day moving average price of $56.37 and a 200 day moving average price of $61.71. The firm has a market cap of $43.73 billion, a PE ratio of -24.07, a PEG ratio of 1.83 and a beta of 1.33. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.96. Carrier Global has a 1-year low of $50.24 and a 1-year high of $76.76.

Carrier Global (NYSE:CARR) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.11. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.09 billion. Carrier Global had a positive return on equity of 16.99% and a negative net margin of 7.90%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. Research analysts predict that Carrier Global will post 2.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in shares of Carrier Global during the 2nd quarter worth approximately $590,759,000. Bank of America Corp DE acquired a new stake in Carrier Global during the 2nd quarter valued at $572,908,000. Dimensional Fund Advisors LP lifted its holdings in Carrier Global by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,291,311 shares of the company’s stock valued at $354,188,000 after purchasing an additional 246,723 shares during the last quarter. Legal & General Group Plc bought a new position in Carrier Global during the second quarter worth $322,366,000. Finally, Primecap Management Co. CA acquired a new position in shares of Carrier Global in the second quarter valued at $283,585,000. Institutional investors own 91.00% of the company’s stock.

Carrier Global Company Profile

Carrier Global Corporation (NYSE:CARR) is a global provider of intelligent climate and energy solutions. The company develops and manufactures heating, ventilation and air-conditioning (HVAC) systems, refrigeration equipment, building automation technologies and related controls and services for residential, commercial and industrial customers.

Its offerings include air conditioners, heat pumps, furnaces, boilers, chillers, ventilation systems, refrigeration systems and building management solutions.