Goldman has recently resumed Carrier Global Corp (CARR) stock to Buy rating, as announced on December 12, 2024, according to Finviz. Earlier, on November 22, 2024, Northcoast had initiated the stock to Neutral. UBS also raised Buy rating with a price target of $94. Additionally, Stephens reduced rating on October 16, 2024, with a target price of $85. JP Morgan analysts, in their report published on October 10, 2024, also resumed Neutral rating and set a price target of $48 for Carrier Global Corp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Carrier Global Corp (CARR) Stock Trading Recap
On Tuesday, Carrier Global Corp (CARR) stock saw a modest uptick, ending the day at $68.4 which represents a slight increase of $1.29 or 1.92% from the prior close of $67.11. The stock opened at $67.89 and touched a low of $67.63 during the day, reaching a high of $68.83. The volume of shares traded was 3.41 million falling short of the average volume of 4.51 million.
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CARR Stock Performance and Moving Averages
In recent trading, Carrier Global Corp (CARR) stock price has shown some volatility, fluctuating -0.45% over the last five trades and -7.19% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 1.54%, and it has plunged by -16.19% in the previous three months. Currently, CARR is trading at -0.53%, -5.68%, and -0.55% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CARR, a Industrials sector stock, is trading -17.91% below its 52-week high but remains 28.74% above its 52-week low. The Average True Range (ATR) (14 days) of 1.56 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Carrier Global Corp’s Profitability and Valuation Ratios
Carrier Global Corp’s profitability metrics reveal financial health. The company currently boasts an operating margin of 10.79% and a profit margin of 14.99%, with a gross margin of 1.54%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Carrier Global Corp’s market capitalization stands at $61.37 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 17.87, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 22.74. Additionally, the Price-to-Sales Ratio is 2.56, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 4.64, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 6.65% of Carrier Global Corp (CARR)’s shares, while financial institutions hold 85.04%.
Notable insider trades include Crockett Kyle, VP, Controller & CAO at Carrier Global Corp (CARR), who sold 11647 shares on Nov 07 ’24, at $76.34 each, totaling $0.89 million. On Nov 06 ’24, O’Connor Kevin J., Senior VP & CLO, sold 167183 shares for $73.46 each, amounting to $12.28 million. Additionally, on Aug 08 ’24, Agrawal Ajay sold 62382 shares at $64.55 each, generating $4.03 million.