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Carrier Global (CARR) is a Top-Ranked Momentum Stock: Should You Buy?

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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 boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Carrier Global has seen some interesting price action recently; the stock is down 1.5% over the past one week and up 4% over the past four weeks. And in the last one-year period, CARR has gained 15.7%. As for the stock's trading volume, 3,647,044 shares on average were traded over the last 20 days.

A company's earnings performance is important for momentum investors as well. For fiscal 2023, eight analysts revised their earnings estimate higher in the last 60 days for CARR, while the Zacks Consensus Estimate has increased $0.09 to $2.72 per share. CARR also boasts an average earnings surprise of 6%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding CARR to their portfolios.

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Carrier Global Corporation (CARR) : Free Stock Analysis Report

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Zacks Investment Research