Are Investors Keen On Selling Holdings In Carrier Global Corporation (NYSE:CARR)?

Carrier Global Corporation (NYSE:CARR) traded at $37.41 at last check on Wednesday, Dec 30, made an upward move of 0.66% on its previous day’s price.

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Looking at the stock we see that its previous close was $37.17 and the beta (5Y monthly) reads 0 with the day’s price range being $37.26 – 37.66. The company has a trailing 12-month PE ratio of 21.13. In terms of its 52-week price range, CARR has a high of $41.48 and a low of $11.5. The company’s stock has gained about -1.69% over that past 30 days.

Based on estimates by 18 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 9 have rated the Carrier Global Corporation (CARR) stock as a Hold, while 8 rate it as a Buy. 1 analyst(s) rate it as outperform while none of them rated it as underperform, whereas none suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the CARR stock currently stands at 0, and the most recent price level today is -0.6% off its SMA20 and 0.79% from its 50-day simple moving average. The RSI (14) is pointing at 48.37 while the volatility over the past week is 2.58% and jumps to 2.59% over the past one month. The beta value is 0, while the average true range (ATR) is currently pointing at 1.02. The average price target for the stock over the next 12 months is $41.2, with the estimates having a low of $36 and a high of $48. These price ends are -3.77% and +28.31% off the today’s price level respectively, although investors could be excited at the prospect of a +12.27% if the CARR share price touches on the median price of $42.

Let’s briefly compare Carrier Global Corporation (CARR) stock to its peers. We find that today’s price change of +0.66% and 0% over the past 12 months for CARR competes that of Koninklijke Philips Electronics (PHG), which has seen its stock price fall -0.05% in the latest trading session and is +14.1% over the last one year. Another of its peers K L A-Tencor Corp (KLAC) has climbed 2.67% today, and was +42.6% up over the past year, while Garmin Ltd (GRMN) is also up 0.66% yet, while its price remains in the red at 0% over the same period. Carrier Global Corporation has a P/E ratio of 21.13 compared to Koninklijke Philips Electronics 35.98 and K L A-Tencor Corp’s 30.95. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at 0.38% and 0.6%, respectively, in early deals.

Coming back to Carrier Global Corporation (NYSE:CARR), we note that the average 3-month trading volume was 5.17 Million, while that of the preceding 10-day period stands at 2.81 Million. Current shares outstanding are 866.69 Million.

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According to data from Thomson Reuters, insiders hold 0.04% of the company’s shares while institutions hold 84.03%. The data shows that short shares as of December 14, 2020, stood at 8.42 Million at a short ratio of 1.36. This represents a 0.97% short interest in shares outstanding on December 14, 2020. Shares short dropped in December from the previous month at 9.66 Million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock +209.75% up in year-to-date price movement.


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