Can Carrier Global Corp (CARR) stock recover despite sales dropping?

In yesterday’s Wall Street session, Carrier Global Corp (NYSE:CARR) shares traded at $52.35, down -0.87% from the previous session.

22 analysts cover Carrier Global Corp (NYSE:CARR), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $67.00 and a low of $48.00, we find $56.50. Given the previous closing price of $52.81, this indicates a potential upside of 6.99 percent. CARR stock price is now -0.43% away from the 50-day moving average and 7.06% away from the 200-day moving average. The market capitalization of the company currently stands at $43.92B.

The stock has received a hold rating from 11 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $56.61 as their price target over the next twelve months.

With the price target maintained at $56, Wolfe Research recently Downgraded its rating from Peer Perform to Underperform for Carrier Global Corp (NYSE: CARR).

In other news, Timperman Jurgen, President, Fire & Security sold 164,450 shares of the company’s stock on Jul 31. The stock was sold for $9,743,763 at an average price of $59.25. Upon completion of the transaction, the President, Fire & Security now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 31, President, Fire & Security Timperman Jurgen sold 33,000 shares of the business’s stock. A total of $1,953,600 was realized by selling the stock at an average price of $59.20. This leaves the insider owning 6,747 shares of the company worth $0.35 million. Insiders disposed of 1,711,735 shares of company stock worth roughly $89.61 million over the past 1 year. A total of 0.26% of the company’s stock is owned by insiders.

On Wednesday morning Carrier Global Corp (NYSE: CARR) stock kicked off with the opening price of $52.72. During the past 12 months, Carrier Global Corp has had a low of $40.28 and a high of $60.04. As of last week, the company has a debt-to-equity ratio of 1.13, a current ratio of 1.66, and a quick ratio of 1.25. According to the stock market information, the enterprise value for the company is $49.27B, which is based on a 37.23 price-to-earnings ratio, a 3.76 price-to-earnings-growth ratio, and a beta of 1.29. The fifty day moving average price for CARR is $52.58 and a two-hundred day moving average price translates $48.90 for the stock.

The latest earnings results from Carrier Global Corp (NYSE: CARR) was released for Sep, 2023. The net profit margin was 5.43% and return on equity was 15.64% for CARR. The company reported revenue of $5.73 billion for the quarter, compared to $5.45 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.14 percent.

Carrier Global Corp(CARR) Company Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies worldwide. It operates through three segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment provides products, controls, services, and solutions to meet the heating, cooling, and ventilation needs of residential and commercial customers. Its products include air conditioners, heating systems, controls, and aftermarket components, as well as aftermarket repair and maintenance services and building automation solutions. The Refrigeration segment offers transport refrigeration and monitoring products and services, as well as digital solutions for trucks, trailers, shipping containers, intermodal applications, food retail, and warehouse cooling; and commercial refrigeration solutions, such as refrigerated cabinets, freezers, systems, and controls. The Fire & Security segment provides various residential, commercial, and industrial technologies, including fire, flame, gas, smoke, and carbon monoxide detection; portable fire extinguishers; fire suppression systems; intruder alarms; access control systems; video management systems; and electronic controls. Its other fire and security service offerings comprise audit, design, installation, and system integration, as well as aftermarket maintenance and repair and monitoring services. The company offers its products under the Autronica, Det-Tronics, Edwards, Aritech, Fireye, GST, Kidde, LenelS2, Marioff, Onity, and Supra; Carrier, Toshiba, Automated Logic, Bryant, CIAT, Day & Night, Heil, NORESCO, and Riello; and Carrier Commercial Refrigeration, Carrier Transicold, and Sensitech brands. The company was incorporated in 2019 and is headquartered in Palm Beach Gardens, Florida.