Weekly Performance Analysis for Carrier Global Corporation (CARR)

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Carrier Global Corporation (NYSE:CARR) saw an upside of 0.19% to close Tuesday at $41.87 after adding $0.08 on the day. The 5-day average trading volume is 2,495,420 shares of the company’s common stock. It has gained $42.41 in the past week and touched a new high 3 times within the past 5 days. An average of 3,779,110 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,038,784.

CARR’s 1-month performance is -5.29% or -$2.34 on its low of $41.03 reached on 12/22/22. The company’s shares have touched a 52-week low of $33.10 and high of $54.64, with the stock’s rally to the 52-week high happening on 01/04/22. YTD, CARR has lost -22.81% or -$12.37 and has reached a new high 2 times. However, the current price is down -23.37% from the 52-week high price.


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Insider Transactions

CARR stock investors last saw insider trading activity on Nov 29.Timperman Jurgen (President, Fire & Security) most recently sold 39,475 shares at $43.54 per share on Nov 29. This transaction cost the insider $1,718,919. President, Fire & Security, Timperman Jurgen, sold 102,552 shares at a price of $43.57 on Nov 29. Then, on Feb 04, Vice President, Controller Crockett Kyle sold 3,682 shares at a price of $45.73 per share. This transaction amounted to $168,360.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.71 while the price-to-book (PB) in the most recent quarter is 4.91, with the price to cash flow ratio at 50.32.

Carrier Global Corporation’s quick ratio for the period ended September 29 was 1.20, with the current ratio over the same period at 1.60. As well, the company’s long term debt to equity for the quarter ending September 29 was 1.21, while the total debt to equity was 1.24.. In terms of profitability, the gross margin trailing 12 months is 27.40%. The firm’s gross profit as reported stood at $5.98 billion against revenue of $20.61 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 64.25% to $1.31 billion, while revenue of $573.0 million was 56.33% off the previous quarter. Analysts expected CARR to announce $0.65 per share in earnings in its latest quarter, but it posted $0.7, representing a 7.70% surprise. EBITDA for the quarter stood at more than $1.63 billion. CARR stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 17.89 billion, with total debt at $9.06 billion. Shareholders hold equity totaling $836.26 million.

Let’s look briefly at Carrier Global Corporation (CARR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 27 December was 42.20% to suggest the stock is trending Neutral, with historical volatility in this time period at 19.69%.

The stock’s 5-day moving average is $41.76, reflecting a +0.89% or $0.37 change from its current price. CARR is currently trading -3.32% above its 20-day SMA, +0.14% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +21.12% and SMA200 by-3.12%.

Stochastic %K and %D was 19.82% and 19.28% and the average true range (ATR) pointed at 0.97. The RSI (14) points at 46.17%, while the 14-day stochastic is at 21.16% with the period’s ATR at 1.03. The stock’s 9-day MACD Oscillator is pointing at -0.25 and -0.75 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Carrier Global Corporation (NYSE: CARR), KeyBanc Capital Markets downgraded it to a Sector weight rating. They previously had an Overweight rating on the stock.

What is CARR’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $38.00 and a high of $55.00, with their median price target at $45.00. Looking at these predictions, the average price target given by analysts is for Carrier Global Corporation (CARR) stock is $45.48.

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