Comfort Systems USA (NYSE:FIX) Upgraded to Strong-Buy at Zacks Research

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

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings cut Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Erste Group Bank cut shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Stifel Nicolaus set a $1,808.00 target price on shares of Comfort Systems USA in a research note on Monday, October 26th. KeyCorp cut their price target on shares of Comfort Systems USA from $2,125.00 to $1,979.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. Finally, UBS Group cut their price target on shares of Comfort Systems USA from $2,225.00 to $1,900.00 and set a “buy” rating on the stock in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Comfort Systems USA presently has an average rating of “Buy” and an average price target of $1,916.14.

Comfort Systems USA Price Performance

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

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings results on Thursday, October 22nd. The construction company reported $13.91 EPS for the quarter, beating analysts’ consensus estimates of $12.85 by $1.06. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter in the previous year, the company posted $8.25 EPS. The business’s revenue was up 53.7% on a year-over-year basis. As a group, equities analysts expect that Comfort Systems USA will post 50.32 EPS for the current year.

Insider Buying and Selling

In related news, Director Franklin Myers sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the completion of the sale, the director owned 8,495 shares in the company, valued at approximately $14,389,850.40. This trade represents a 32.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William George, III sold 2,554 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the sale, the chief financial officer owned 30,250 shares of the company’s stock, valued at $56,254,412.50. This trade represents a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In 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

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

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.