Carrier Global Corp (NYSE:CARR) finished Thursday with an addition of $0.86 to close at $55.94, an upside of 1.56 percent. An average of 5,343,820 shares of common stock have been traded in the last five days. There was a gain of $3.38 in the past week, and it reached a new high 38 times over the past 12 months. The last 20 days have seen an average of 4,816,600 shares traded, while the 50-day average volume stands at 4,822,060.
CARR stock has decreased by -1.44% in the last month. The company shares reached their 1-month lowest point of $52.16 on 09/19/23. With the stock rallying to its 52-week high on 08/01/23, shares of the company touched a low of $33.10 and a high of $60.04 in 52 weeks. It has reached a new high 29 times so far this year and achieved 35.61% or $14.69 in price. In spite of this, the price is down -6.83% from the 52-week high.
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Insider Transactions
CARR stock investors should be aware that Carrier Global Corp (CARR) stock had its last reported insider trading activity 60 days ago on Jul 31. In this transaction, the insider spent $9,743,763. President, Fire & Security, Timperman Jurgen, disposed of 33,000 shares at a price of $59.20 on Jul 31. The insider now owns more than $1,953,600 worth of shares. Prior to that, Vice President, Controller Crockett Kyle went on to Sale 6,817 shares at $59.22 each on Jul 31. An amount of $403,670 was transacted.
Valuation Metrics
Carrier Global Corp (CARR) has a trailing price-to-earnings (P/E) ratio of 22.20. The stock’s beta is 1.25. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.15, the price-to-book (PB) ratio at 5.88, and the price-to-cash flow ratio at 22.95.
The company has a payout ratio of 15.47%. The company’s most recent quarterly dividend payment was $0.1850 a share, without any change from last year. Its latest increase dividend $0.0350 reported on Wednesday December 7 2022.
Financial Health
The quick ratio of Carrier Global Corp for the recent quarter was 1.19, and the current ratio was 1.63, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.15 and a total debt to equity ratio of 1.16 for the recent quarter. Carrier Global Corp’s EBITDA margin is 22.84%, while its operating margin for the same period stands at 13.01%. Its gross profit as reported stood at $5.46 billion compared to revenue of $20.42 billion.
Earnings Surprise
For the recent quarter, Carrier Global Corp had $8.65 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $199.0 million in the quarter, while revenues were shrunk -187.94%. Shareholders own equity worth $837.63 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Carrier Global Corp (CARR) price momentum. RSI 9-day as of the close on 28 September was 58.46%, suggesting the stock is Neutral, with historical volatility in this time frame at 29.94%.
As of today, CARR’s price is $54.04 +6.43% or $3.38 from its 5-day moving average. CARR is currently trading -2.17% lower than its 20-day SMA and +32.00% higher than its 100-day SMA. However, the stock’s current price level is +1.29% above the SMA50 and +30.03% above the SMA200.
The stochastic %K and %D were 33.02% and 22.51%, respectively, and the average true range (ATR) was 1.74. With the 14-day stochastic at 51.57% and the average true range at 1.64, the RSI (14) stands at 54.62%. The stock has reached 0.71 on the 9-day MACD Oscillator while the 14-day reading was at -0.05.
Analyst Ratings
Mizuho downgraded Carrier Global Corp (NYSE: CARR) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy.
What is CARR’s price target for the next 12 months?
Analysts predict a range of price targets between $46.00 and $67.00, with a median target of $60.00. Taking a look at these predictions, the average price target given by analysts for Carrier Global Corp (CARR) stock is $59.95.
