Is There More Upside Ahead For Carrier Global Corp (NYSE: CARR)

Carrier Global Corp (CARR) concluded trading on Wednesday at a closing price of $56.94, with 3.4 million shares of worth about $193.43 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 4.36% during that period and on April 3, 2024 the price saw a gain of about 0.25%. Currently the company’s common shares owned by public are about 900.10M shares, out of which, 840.06M shares are available for trading.

However, the stock later moved at a day high price of 57.90, or with a gain of 0.25%. Stock saw a price change of -1.04% in past 5 days and over the past one month there was a price change of -0.37%. Year-to-date (YTD), CARR shares are showing a performance of -0.89% which increased to 24.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $40.28 but also hit the highest price of $60.87 during that period. The average intraday trading volume for Carrier Global Corp shares is 4.89 million. The stock is currently trading -1.48% below its 20-day simple moving average (SMA20), while that difference is up 1.19% for SMA50 and it goes to 4.73% higher than SMA200.

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Carrier Global Corp (NYSE: CARR) currently have 900.10M outstanding shares and institutions hold larger chunk of about 86.13% of that.

The stock has a current market capitalization of $51.25B and its 3Y-monthly beta is at 1.26. PE ratio of stock for trailing 12 months is 36.02, while it has posted earnings per share of $1.58 in the same period. Its PEG reads 3.89 and has Quick Ratio of 2.40 while making debt-to-equity ratio of 1.70. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CARR, volatility over the week remained 1.69% while standing at 2.32% over the month.

Stock’s fiscal year EPS is expected to rise by 3.52% while it is estimated to increase by 9.15% in next year. EPS is likely to grow at an annualized rate of 9.27% for next 5-years, compared to annual growth of -12.91% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wolfe Research on October 12, 2023 offering an Underperform rating for the stock and assigned a target price of $56 to it. Coverage by JP Morgan stated Carrier Global Corp (CARR) stock as an Underweight in their note to investors on October 06, 2023, suggesting a price target of $53 for the stock. On October 05, 2023, BofA Securities Downgrade their recommendations, while on September 14, 2023, Mizuho Downgrade their ratings for the stock with a price target of $61. Stock get an Equal-weight rating from Morgan Stanley on June 08, 2023.

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