Carrier Global Corporation (NYSE:CARR) saw an upside of 1.79% to close Monday at $58.10 after adding $1.02 on the day. The 5-day average trading volume is 4,967,580 shares of the company’s common stock. It has gained $60.04 in the past week and touched a new high 1 time within the past 5 days. An average of 5,967,445 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,601,644.
CARR’s 1-month performance is 17.78% or $8.77 on its low of $49.51 reached on 07/10/23. The company’s shares have touched a 52-week low of $33.10 and high of $60.04, with the stock’s rally to the 52-week high happening on 08/01/23. YTD, CARR has achieved 40.85% or $16.85 and has reached a new high 29 times. However, the current price is down -3.23% from the 52-week high price.
Insider Transactions
CARR stock investors last saw insider trading activity on Jul 31.Timperman Jurgen (President, Fire & Security) most recently sold 164,450 shares at $59.25 per share on Jul 31. This transaction cost the insider $9,743,763. President, Fire & Security, Timperman Jurgen, sold 33,000 shares at a price of $59.20 on Jul 31. Then, on Jul 31, Vice President, Controller Crockett Kyle sold 6,817 shares at a price of $59.22 per share. This transaction amounted to $403,670.
Valuation Metrics
CARR stock has a beta of 1.25. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.27 while the price-to-book (PB) in the most recent quarter is 6.10, with the price to cash flow ratio at 33.45.
Carrier Global Corporation’s quick ratio for the period ended June 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 June 29 was 1.09, while the total debt to equity was 1.10. In terms of profitability, the gross margin trailing 12 months is 26.90%. The firm’s gross profit as reported stood at $5.46 billion against revenue of $20.42 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -187.94% to $199.0 million, while revenue of $373.0 million was -87.44% off the previous quarter. Analysts expected CARR to announce $0.77 per share in earnings in its latest quarter, but it posted $0.79, representing a 2.60% surprise. EBITDA for the quarter stood at more than $626.0 million. CARR stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 18.0 billion, with total debt at $9.27 billion. Shareholders hold equity totaling $837.63 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 07 August was 64.33% to suggest the stock is trending Neutral, with historical volatility in this time period at 32.17%.
The stock’s 5-day moving average is $58.41, reflecting a -2.43% or -$1.45 change from its current price. CARR is currently trading +13.34% above its 20-day SMA, +26.99% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +40.68% and SMA200 by+59.97%.
Stochastic %K and %D was 65.82% and 73.59% and the average true range (ATR) pointed at 1.35. The RSI (14) points at 67.88%, while the 14-day stochastic is at 70.91% with the period’s ATR at 1.29. The stock’s 9-day MACD Oscillator is pointing at -0.22 and 1.11 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Carrier Global Corporation (NYSE: CARR), Morgan Stanley downgraded it to an Equal-weight rating. They previously had an Overweight rating on the stock.
