Comfort Systems USA (NYSE:FIX) Stock Gets Price Target Reduction from KeyCorp

Key Points

• KeyCorp lowered Comfort Systems USA’s price target to $1,979 from $2,125 while maintaining an “overweight” rating, implying 70.79% upside from the prior close.
• Analyst sentiment remains positive overall, with eight Buy ratings and two Holds producing a “Moderate Buy” consensus and an average target of $1,995.
• Comfort Systems USA exceeded quarterly expectations, reporting $13.91 in earnings per share and $3.77 billion in revenue; revenue increased 53.7% year over year.

Comfort Systems USA (NYSE:FIX - Get Free Report) had its target price dropped by analysts at KeyCorp from $2,125.00 to $1,979.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the construction company's stock. KeyCorp's price objective indicates a potential upside of 70.79% from the stock's previous close.

FIX has been the topic of a number of other reports. Erste Group Bank downgraded Comfort Systems USA from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. The Goldman Sachs Group set a $1,875.00 target price on Comfort Systems USA in a research note on Tuesday, October 20th. UBS Group set a $1,900.00 target price on Comfort Systems USA in a research note on Monday. Zacks Research downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Finally, DA Davidson assumed coverage on shares of Comfort Systems USA in a research note on Friday, August 21st. They set a "buy" rating and a $2,100.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,995.00.

Comfort Systems USA Stock Performance

NYSE:FIX opened at $1,158.74 on Monday. The stock has a market cap of $40.54 billion, a P/E ratio of 25.02 and a beta of 1.66. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average is $1,604.64 and its 200-day moving average is $1,729.41. Comfort Systems USA has a 1-year low of $841.66 and a 1-year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The construction company reported $13.91 earnings per share for the quarter, beating analysts' consensus estimates of $12.85 by $1.06. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.40 billion. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. Comfort Systems USA's quarterly revenue was up 53.7% on a year-over-year basis. During the same period in the prior year, the business posted $8.25 earnings per share. Equities research analysts anticipate that Comfort Systems USA will post 48.80 earnings per share for the current year.

Insider Transactions at Comfort Systems USA

In related news, 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 transaction, the director directly owned 8,495 shares in the company, valued at $14,389,850.40. This trade represents a 32.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Lane sold 16,024 shares of Comfort Systems USA stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the completion of the sale, the insider directly owned 145,065 shares of the company's stock, valued at approximately $233,294,983.65. The trade was a 9.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 26,078 shares of company stock valued at $43,211,828 over the last ninety days. 1.24% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FIX. Simplicity Wealth LLC purchased a new stake in shares of Comfort Systems USA in the second quarter worth approximately $601,000. New York State Teachers Retirement System boosted its position in shares of Comfort Systems USA by 2.7% during the first quarter. New York State Teachers Retirement System now owns 30,665 shares of the construction company's stock valued at $42,287,000 after buying an additional 800 shares during the last quarter. Argent Capital Management LLC boosted its position in shares of Comfort Systems USA by 20.8% during the first quarter. Argent Capital Management LLC now owns 6,985 shares of the construction company's stock valued at $9,632,000 after buying an additional 1,202 shares during the last quarter. IPG Investment Advisors LLC purchased a new position in shares of Comfort Systems USA during the second quarter valued at approximately $1,833,000. Finally, NewEdge Advisors LLC grew its holdings in Comfort Systems USA by 30.5% during the second quarter. NewEdge Advisors LLC now owns 6,476 shares of the construction company's stock worth $12,835,000 after buying an additional 1,512 shares in the last quarter. 96.51% of the stock is owned by institutional investors.

Comfort Systems USA Company Profile

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.

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