Carrier Global Corp (NYSE: CARR) has experienced a rise in its stock price by 1.52 compared to its previous closing price of 53.22. However, the company has seen a gain of 6.07% in its stock price over the last five trading days. Seeking Alpha reported 2023-11-11 that Carrier Global Corporation (NYSE:CARR ) Baird’s Global Industrial Conference Call November 7, 2023 12:25 PM ET Company Participants Dave Gitlin – Chairman and Chief Executive Officer Conference Call Participants Tim Wojs – Baird Tim Wojs I am Tim Wojs. I cover building products here at Baird.
Is It Worth Investing in Carrier Global Corp (NYSE: CARR) Right Now?
Carrier Global Corp (NYSE: CARR) has a higher price-to-earnings ratio of 38.43x compared to its average ratio, and the 36-month beta value for CARR is at 1.29. Analysts have varying views on the stock, with 7 analysts rating it as a “buy,” 1 rating it as “overweight,” 11 as “hold,” and 2 as “sell.”
The average price suggested by analysts for CARR is $56.61, which is $2.58 above the current market price. The public float for CARR is 837.91M, and currently, shorts hold a 3.17% of that float. The average trading volume for CARR on November 20, 2023 was 4.72M shares.
CARR’s Market Performance
CARR stock saw an increase of 6.07% in the past week, with a monthly gain of 11.91% and a quarterly increase of 0.43%. The volatility ratio for the week is 1.95%, and the volatility levels for the last 30 days are 2.60% for Carrier Global Corp (CARR). The simple moving average for the past 20 days is 8.34% for CARR’s stock, with a 10.27% simple moving average for the past 200 days.
Analysts’ Opinion of CARR
Many brokerage firms have already submitted their reports for CARR stocks, with Wolfe Research repeating the rating for CARR by listing it as a “Underperform.” The predicted price for CARR in the upcoming period, according to Wolfe Research is $56 based on the research report published on October 12, 2023 of the current year 2023.
CARR Trading at 3.31% from the 50-Day Moving Average
After a stumble in the market that brought CARR to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -10.01% of loss for the given period.
Volatility was left at 2.60%, however, over the last 30 days, the volatility rate increased by 1.95%, as shares surge +11.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -8.56% lower at present.
During the last 5 trading sessions, CARR rose by +5.81%, which changed the moving average for the period of 200-days by +14.94% in comparison to the 20-day moving average, which settled at $50.14. In addition, Carrier Global Corp saw 30.98% in overturn over a single year, with a tendency to cut further gains.
Reports are indicating that there were more than several insider trading activities at CARR starting from Timperman Jurgen, who sale 164,450 shares at the price of $59.25 back on Jul 31. After this action, Timperman Jurgen now owns 0 shares of Carrier Global Corp, valued at $9,743,763 using the latest closing price.
Timperman Jurgen, the President, Fire & Security of Carrier Global Corp, sale 33,000 shares at $59.20 during a trade that took place back on Jul 31, which means that Timperman Jurgen is holding 6,747 shares at $1,953,600 based on the most recent closing price.
Stock Fundamentals for CARR
Current profitability levels for the company are sitting at:
- +20.98 for the present operating margin
- +26.80 for the gross margin
The net margin for Carrier Global Corp stands at +17.31. The total capital return value is set at 24.65, while invested capital returns managed to touch 20.91. Equity return is now at value 15.64, with 4.62 for asset returns.
Based on Carrier Global Corp (CARR), the company’s capital structure generated 120.79 points at debt to equity in total, while total debt to capital is 54.71. Total debt to assets is 35.92, with long-term debt to equity ratio resting at 118.99. Finally, the long-term debt to capital ratio is 53.89.
When we switch over and look at the enterprise to sales, we see a ratio of 2.28, with the company’s debt to enterprise value settled at 0.22. The receivables turnover for the company is 6.51 and the total asset turnover is 0.78. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.64.
In conclusion, Carrier Global Corp (CARR) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.