Is Carrier Global Stock Underperforming the Nasdaq?

Carrier Global Corporation (CARR), headquartered in Palm Beach Gardens, Florida, provides heating, ventilating, air conditioning, refrigeration, fire, security, and building automation technologies. Valued at $53.4 billion by market cap, the company also provides building services such as audit, design, installation, system integration, repair, maintenance, and monitoring.

Companies worth $10 billion or more are generally described as “large-cap stocks,” and CARR perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the building products & equipment industry. CARR’s diverse brand portfolio (Carrier, Viessmann, Toshiba) makes it a global leader in climate and energy solutions. Its strong brand equity, built on innovation and quality, drives its competitive edge.

Despite its notable strength, CARR slipped 21.3% from its 52-week high of $81.09, achieved on Jul. 28, 2025. Over the past three months, CARR stock gained 18.6%, outperforming the Nasdaq Composite’s ($NASX) 2.8% losses during the same time frame.

Shares of CARR rose 20.8% on a YTD basis, outperforming NASX’s YTD losses of 2.1%. However, in the longer term, the stock dipped 1.5% over the past 52 weeks, underperforming NASX’s 20.7% returns over the last year.

To confirm the recent bullish trend, CARR has been trading above its 50-day moving average since early January. The stock has been trading above its 200-day moving average since early February, with slight fluctuations.

CARR’s underperformance is due to softness in residential and light commercial heating and cooling markets, driven by destocking and lower volumes in the Americas. Despite growth in commercial HVAC and aftermarket, demand is expected to remain muted till macroeconomic indicators improve, with focus on data center tech and cost reductions.

On Feb. 5, CARR shares closed down marginally after reporting its Q4 results. Its adjusted EPS of $0.34 fell short of Wall Street expectations of $0.36. The company’s revenue was $4.8 billion, missing Wall Street forecasts of $5 billion. CARR expects full-year adjusted EPS to be $2.80, and revenue is expected to be $22 billion.

In the competitive arena of building products & equipment, Trane Technologies plc (TT) has taken the lead over CARR, showing resilience with solid 31.8% gains over the past 52 weeks, but lagged behind the stock with a 19.8% uptick on a YTD basis

Wall Street analysts are reasonably bullish on CARR’s prospects. The stock has a consensus “Moderate Buy” rating from the 24 analysts covering it, and the mean price target of $72.76 suggests a potential upside of 14% from current price levels.

On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com