The stock price of Carrier Global Corp (NYSE: CARR) has dropped by -0.64 compared to previous close of 74.53. Despite this, the company has seen a fall of -2.94% in its stock price over the last five trading days. seekingalpha.com reported 2024-11-15 that Carrier Global Corporation (NYSE:CARR ) Baird’s 2024 Global Industrial Conference November 12, 2024 11:50 AM ET Company Participants David Gitlin – Chairman & Chief Executive Officer Patrick Goris – Senior Vice President & Chief Financial Officer Conference Call Participants Timothy Wojs – Robert W. Baird & Co. Timothy Wojs Good morning, everybody.
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 19.34x compared to its average ratio, The 36-month beta value for CARR is at 1.21. Analysts have varying views on the stock, with 9 analysts rating it as a “buy,” 7 rating it as “overweight,” 12 as “hold,” and 1 as “sell.”
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The public float for CARR is 837.38M, and currently, shorts hold a 1.21% of that float. The average trading volume for CARR on November 19, 2024 was 3.70M shares.
CARR’s Market Performance
CARR stock saw a decrease of -2.94% in the past week, with a monthly decline of -9.20% and a quarterly a decrease of 8.01%. The volatility ratio for the week is 1.83%, and the volatility levels for the last 30 days are 2.13% for Carrier Global Corp (CARR). The simple moving average for the past 20 days is -1.34% for CARR’s stock, with a 12.35% simple moving average for the past 200 days.
Analysts’ Opinion of CARR
Many brokerage firms have already submitted their reports for CARR stocks, with UBS repeating the rating for CARR by listing it as a “Buy.” The predicted price for CARR in the upcoming period, according to UBS is $94 based on the research report published on November 13, 2024 of the current year 2024.
Stephens, on the other hand, stated in their research note that they expect to see CARR reach a price target of $85, previously predicting the price at $75. The rating they have provided for CARR stocks is “Equal-Weight” according to the report published on October 16th, 2024.
JP Morgan gave a rating of “Neutral” to CARR, setting the target price at $83 in the report published on October 10th of the current year.
CARR Trading at -4.81% 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 -11.13% of loss for the given period.
Volatility was left at 2.13%, however, over the last 30 days, the volatility rate increased by 1.83%, as shares sank -9.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +4.69% upper at present.
During the last 5 trading sessions, CARR fell by -2.94%, which changed the moving average for the period of 200-days by +30.42% in comparison to the 20-day moving average, which settled at $75.05. In addition, Carrier Global Corp saw 28.89% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CARR starting from Crockett Kyle, who sale 11,647 shares at the price of $76.34 back on Nov 07 ’24. After this action, Crockett Kyle now owns 2,042 shares of Carrier Global Corp, valued at $889,082 using the latest closing price.
O’Connor Kevin J., the Senior VP & CLO of Carrier Global Corp, sale 167,183 shares at $73.46 during a trade that took place back on Nov 06 ’24, which means that O’Connor Kevin J. is holding 46,083 shares at $12,281,698 based on the most recent closing price.
Stock Fundamentals for CARR
Current profitability levels for the company are sitting at:
- 0.11 for the present operating margin
- 0.07 for the gross margin
The net margin for Carrier Global Corp stands at 0.14. The total capital return value is set at 0.09. Equity return is now at value 31.39, with 10.76 for asset returns.
Based on Carrier Global Corp (CARR), the company’s capital structure generated 0.46 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 0.85. The interest coverage ratio of the stock is 4.24.
Currently, EBITDA for the company is 2.81 billion with net debt to EBITDA at 2.78. When we switch over and look at the enterprise to sales, we see a ratio of 3.22. The receivables turnover for the company is 8.79for trailing twelve months and the total asset turnover is 0.6. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.08.
Conclusion
In conclusion, Carrier Global Corp (CARR) has had a mixed performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
