Here's Why Carrier Global (CARR) is a Strong Value Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.
Why Investors Should Pay Attention to This Value Stock
Different than growth or momentum investors, value-focused investors are all about finding good stocks at good prices, and discovering which companies are trading under what their true value is before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, and Price/Cash Flow to help pick out the most attractive and discounted stocks.
Carrier Global (CARR)
Palm Beach Gardens, FL-based Carrier Global is a provider of advanced heating, ventilation, refrigeration, air conditioning, fire, security and building automation technologies. The company completed its Initial Public Offering (“IPO”) in April 2020.
CARR is a Zacks Rank #3 (Hold) stock, with a Value Style Score of B and VGM Score of B. Shares are currently trading at a forward P/E of 19.9X for the current fiscal year compared to the Electronics - Miscellaneous Products industry's P/E of 18.7X. Additionally, CARR has a PEG Ratio of 1.9 and a Price/Cash Flow ratio of 19.4X. Value investors should also note CARR's Price/Sales ratio of 2.1X.
A company's earnings performance is important for value investors as well. For fiscal 2023, one analyst revised their earnings estimate higher in the last 60 days for CARR, while the Zacks Consensus Estimate has increased $0.02 to $2.72 per share. CARR also holds an average earnings surprise of 6%.
With strong valuation and earnings metrics, a good Zacks Rank, and top-tier Value and VGM Style Scores, investors should strongly think about adding CARR to their portfolios.
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Carrier Global Corporation (CARR) : Free Stock Analysis Report
