Carrier Global Corp (NYSE: CARR) has seen a rise in its stock price by 0.39 in relation to its previous close of 56.62. However, the company has experienced a 0.71% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-08 that Finding stocks expected to beat quarterly earnings estimates becomes an easier task with our Zacks Earnings ESP.
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 35.95x compared to its average ratio. CARR has 36-month beta value of 1.26. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for CARR is 840.18M, and currently, short sellers hold a 1.68% ratio of that float. The average trading volume of CARR on April 15, 2024 was 4.99M shares.
CARR’s Market Performance
CARR stock saw a decrease of 0.71% in the past week, with a monthly decline of -1.76% and a quarterly a decrease of -0.04%. The volatility ratio for the week is 1.87%, and the volatility levels for the last 30 days are 2.07% for Carrier Global Corp (CARR). The simple moving average for the past 20 days is -1.13% for CARR’s stock, with a 3.92% 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 previous year 2023.
JP Morgan, on the other hand, stated in their research note that they expect to see CARR reach a price target of $53. The rating they have provided for CARR stocks is “Underweight” according to the report published on October 06th, 2023.
BofA Securities gave a rating of “Underperform” to CARR, setting the target price at $55 in the report published on October 05th of the previous year.
CARR Trading at 0.76% 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 -6.62% of loss for the given period.
Volatility was left at 2.07%, however, over the last 30 days, the volatility rate increased by 1.87%, as shares sank -0.82% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.89% upper at present.
During the last 5 trading sessions, CARR rose by +0.71%, which changed the moving average for the period of 200-days by +14.85% in comparison to the 20-day moving average, which settled at $57.47. In addition, Carrier Global Corp saw -1.06% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CARR starting from Gitlin David L., who sale 354,539 shares at the price of $54.16 back on Feb 08 ’24. After this action, Gitlin David L. now owns 422,808 shares of Carrier Global Corp, valued at $19,203,073 using the latest closing price.
O’Connor Kevin J., the Senior VP & CLO of Carrier Global Corp, sale 26,551 shares at $53.77 during a trade that took place back on Feb 08 ’24, which means that O’Connor Kevin J. is holding 66,083 shares at $1,427,676 based on the most recent closing price.
Stock Fundamentals for CARR
Current profitability levels for the company are sitting at:
- 0.1 for the present operating margin
- 0.29 for the gross margin
The net margin for Carrier Global Corp stands at 0.06. The total capital return value is set at 0.09. Equity return is now at value 16.42, with 4.58 for asset returns.
Based on Carrier Global Corp (CARR), the company’s capital structure generated 0.63 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at 1.69. The interest coverage ratio of the stock is 6.81.
Currently, EBITDA for the company is 3.39 billion with net debt to EBITDA at 1.45. When we switch over and look at the enterprise to sales, we see a ratio of 2.53. The receivables turnover for the company is 7.93for trailing twelve months and the total asset turnover is 0.67. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.73.
Conclusion
To put it simply, Carrier Global Corp (CARR) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as 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.
