Comfort Systems USA (NYSE:FIX) Raised to “Strong-Buy” at Zacks Research

Comfort Systems USA (NYSE:FIX) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

FIX has been the subject of several other research reports. Oppenheimer decreased their target price on Comfort Systems USA from $2,400.00 to $2,000.00 and set an “outperform” rating for the company in a research report on Monday, October 26th. Erste Group Bank downgraded Comfort Systems USA from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. Weiss Ratings downgraded Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Stifel Nicolaus set a $1,808.00 price objective on Comfort Systems USA in a research report on Monday, October 26th. Finally, UBS Group lowered their target price on Comfort Systems USA from $2,225.00 to $1,900.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $1,916.14.

Comfort Systems USA Trading Down 15.5%

Comfort Systems USA stock opened at $1,085.71 on Tuesday. The company has a 50 day moving average price of $1,536.01 and a 200 day moving average price of $1,598.89. Comfort Systems USA has a 52 week low of $841.66 and a 52 week high of $2,073.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.13 and a current ratio of 1.15. The firm has a market capitalization of $37.99 billion, a price-to-earnings ratio of 23.44 and a beta of 1.64.

Comfort Systems USA (NYSE:FIX) last posted its quarterly earnings data on Thursday, October 22nd. The construction company reported $13.91 earnings per share for the quarter, topping the consensus estimate of $12.85 by $1.06. Comfort Systems USA had a net margin of 13.01% and a return on equity of 55.24%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.40 billion. During the same period in the previous year, the company posted $8.25 EPS. The company’s quarterly revenue was up 53.7% compared to the same quarter last year. Research analysts forecast that Comfort Systems USA will post 50.32 EPS for the current year.

Insider Transactions at Comfort Systems USA

In other news, insider Brian Lane sold 16,024 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total value of $25,769,957.04. Following the transaction, the insider directly owned 145,065 shares of the company’s stock, valued at approximately $233,294,983.65. This represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Franklin Myers sold 4,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $1,693.92, for a total value of $6,775,680.00. Following the sale, the director owned 8,495 shares of the company’s stock, valued at approximately $14,389,850.40. This represents a 32.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 26,078 shares of company stock valued at $43,211,828. 1.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of FIX. Keybank National Association OH grew its position in Comfort Systems USA by 54.2% in the third quarter. Keybank National Association OH now owns 367 shares of the construction company’s stock worth $607,000 after acquiring an additional 129 shares in the last quarter. New York Life Investment Management LLC increased its stake in shares of Comfort Systems USA by 0.5% during the 3rd quarter. New York Life Investment Management LLC now owns 5,241 shares of the construction company’s stock worth $8,669,000 after purchasing an additional 27 shares during the last quarter. Paragon Advisors LLC increased its stake in shares of Comfort Systems USA by 13.2% during the 3rd quarter. Paragon Advisors LLC now owns 1,848 shares of the construction company’s stock worth $3,057,000 after purchasing an additional 216 shares during the last quarter. Candriam S.C.A. raised its holdings in shares of Comfort Systems USA by 13.0% during the 3rd quarter. Candriam S.C.A. now owns 26,274 shares of the construction company’s stock valued at $43,618,000 after purchasing an additional 3,019 shares in the last quarter. Finally, Point Nemo Capital LLC raised its holdings in shares of Comfort Systems USA by 1.2% during the 3rd quarter. Point Nemo Capital LLC now owns 1,372 shares of the construction company’s stock valued at $2,269,000 after purchasing an additional 16 shares in the last quarter. 96.51% of the stock is owned by institutional investors and hedge funds.

About Comfort Systems USA

Comfort Systems USA, Inc (NYSE:FIX) is a provider of mechanical and electrical contracting services for commercial, industrial, and institutional customers. The company designs, installs, maintains, repairs, and replaces heating, ventilation, air conditioning, and temperature-control systems, as well as plumbing, piping, electrical, and related building systems.

Its services support new construction, building renovations, facility upgrades, and ongoing maintenance. Comfort Systems USA also provides specialized services for data centers, manufacturing facilities, healthcare buildings, educational institutions, and other complex commercial and industrial projects.

Founded in 1997 and headquartered in Houston, Texas, the company operates through a network of regional contracting businesses serving customers across the United States.