The stock of Carrier Global Corporation (NYSE:CARR) increased by $1.02 on Tuesday to at $56.59, up 1.84 percent. The last five days have seen an average of 3,426,376 shares of common stock traded. 29 times new highs were reached in the current year, with a gain of $15.16. The average number of shares traded over the last 20 days was 4,241,409, while the average volume over the last 50 days totaled 4,964,054.
CARR stock dropped -4.97% since last month. On 08/18/23, the company’s shares reached a one-month low of $52.62. The stock touched a high of $60.04 on 08/01/23, after rallying from a low of $33.10 in 52 weeks. The price of CARR stock has risen by 37.19% or $15.16 this year, reaching a new high 29 times. Still, the stock price is down -5.75% from the 52-week high.
Insider Transactions
CARR stock investors should be aware that Carrier Global Corporation (CARR) stock had its last reported insider trading activity 29 days ago on Jul 31. On Jul 31, President, Fire & Security Timperman Jurgen sold 164,450 shares at $59.25 each. This transaction resulted in the insider making $9,743,763. On Jul 31, Timperman Jurgen sold 33,000 shares at a price of US$59.20. After the transaction, the insider now owns 6,747 shares. Vice President, Controller Crockett Kyle had earlier sold 6,817 shares on Jul 31 for $59.22 a share. The transaction was completed for $403,670.
Valuation Metrics
Carrier Global Corporation (CARR) has a trailing price-to-earnings (P/E) ratio of 22.46. Beta for the stock is 1.26. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.13, the price-to-book (PB) ratio of 5.94, and the price-to-cash flow ratio of 22.75.
Company paid $0.1850 per share in dividends, remained unchanged from $0.1850 last year. A $0.0350 dividend increase was reported on Wednesday December 7 2022.
Financial Health
For the recent quarter, Carrier Global Corporation’s quick ratio was 1.20, while its current ratio was 1.60, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the recent quarter is 1.09, and the total debt to equity ratio is 1.10. As far as profitability goes, gross margin for the trailing twelve months is 26.90% percent. Carrier Global Corporation’s EBITDA margin for the recent year was 22.84%, whereas its operating margin stood at 13.80% for the same period. Based on annual data, it had gross profit of $5.46 billion and revenue of $20.42 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CARR’s return on assets (ROA) during the last 12 months has been 8.30%. There was a 22.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 27.80%.
Earnings Surprise
A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $5.99 billion, while revenues rose by 13.03% to $5.27 billion. EBITDA was $626.0 million for the quarter. At the end of Carrier Global Corporation’s most recent quarter, its liabilities totaled 18.0 billion, while its total debt was $9.27 billion. Equity owned by shareholders amounts to $837.63 million.
Technical Picture
Here’s a quick look at Carrier Global Corporation’s (CARR) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 59.91%, suggesting the stock is Neutral, with a 26.86% historical volatility rate.
The stochastic %K and %D were 69.19% and 51.03% respectively, while the average true range (ATR) was 1.36. Based on the 14-day stochastic reading of 95.71%, the RSI (14) reading is 57.85%. On the 9-day MACD Oscillator, the stock is at 1.23, and the 14-day reading is at 0.89.
Analyst Ratings
Carrier Global Corporation (NYSE: CARR) was downgraded by Morgan Stanley to a an Equal-weight rating in its latest research report. The stock was previously rated as a an Overweight. Analysts have assigned Carrier Global Corporation (CARR) an Overweight rating. CARR is a stock that is recommended for selling by 0 brokerage firms, while 13 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 1 rate it overweight and 8 others recommend it as a buy.
What is CARR’s price target for the next 12 months?
The current consensus forecast for the stock is between $46.00 and $67.00, with a median target price of $60.00. In analyzing these forecasts, the average price target given by analysts for Carrier Global Corporation (CARR) is $59.45.
