Comfort Systems USA (NYSE:FIX) Stock Price Target Raised at KeyCorp

Key Points

• KeyCorp raised Comfort Systems USA’s price target to $2,125 from $2,110 and maintained an “overweight” rating, implying approximately 38% upside from the cited current price.
• Analyst sentiment remains positive, with eight Buy ratings and two Holds; the consensus is “Moderate Buy” with an average price target of $2,085.
• Comfort Systems USA exceeded quarterly expectations, reporting $12.53 in EPS and $3.27 billion in revenue, with revenue up 50.3% year over year. However, insiders sold about $43.2 million of stock during the quarter.

Comfort Systems USA (NYSE:FIX - Get Free Report) had its price target raised by analysts at KeyCorp from $2,110.00 to $2,125.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the construction company's stock. KeyCorp's price target would indicate a potential upside of 38.09% from the company's current price.

A number of other research firms also recently issued reports on FIX. UBS Group reissued a "buy" rating on shares of Comfort Systems USA in a research report on Tuesday, September 15th. The Goldman Sachs Group began coverage on shares of Comfort Systems USA in a research report on Thursday, July 9th. They set a "buy" rating and a $2,159.00 price target on the stock. Zacks Research downgraded shares of Comfort Systems USA from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. DA Davidson began 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 price objective for the company. Finally, Erste Group Bank lowered shares of Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $2,085.00.

Comfort Systems USA Price Performance

FIX stock opened at $1,538.84 on Thursday. The stock has a 50-day moving average price of $1,652.73 and a two-hundred day moving average price of $1,730.07. Comfort Systems USA has a 12-month low of $770.47 and a 12-month high of $2,073.99. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The company has a market cap of $54.15 billion, a PE ratio of 37.85 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, topping the consensus estimate of $10.45 by $2.08. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%. The firm's revenue was up 50.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.53 earnings per share. As a group, research analysts predict that Comfort Systems USA will post 48.15 EPS for the current year.

Insider Activity

In other Comfort Systems USA news, insider Brian E. Lane sold 16,024 shares of the company's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total value of $25,769,957.04. Following the completion of the transaction, the insider owned 145,065 shares in the company, valued at $233,294,983.65. This represents a 9.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William George, III sold 2,554 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $1,859.65, for a total transaction of $4,749,546.10. Following the completion of the sale, the chief financial officer directly 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. Over the last quarter, insiders sold 26,078 shares of company stock worth $43,211,828. 1.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Comfort Systems USA during the second quarter valued at approximately $6,734,037,000. Deutsche Bank AG acquired a new position in shares of Comfort Systems USA during the second quarter worth approximately $443,751,000. Legal & General Group Plc acquired a new position in shares of Comfort Systems USA during the second quarter worth approximately $400,096,000. Bank of New York Mellon Corp bought a new position in Comfort Systems USA in the 2nd quarter worth approximately $370,479,000. Finally, Amundi grew its holdings in Comfort Systems USA by 114.1% in the 2nd quarter. Amundi now owns 292,904 shares of the construction company's stock worth $580,521,000 after buying an additional 156,069 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc NYSE: FIX provides mechanical, electrical, and other contracting services for commercial, industrial, and institutional customers. Its work supports the construction, renovation, and ongoing operation of facilities such as office buildings, hospitals, schools, data centers, manufacturing plants, and other complex infrastructure.

The company's services include heating, ventilation, and air conditioning; plumbing and piping; electrical contracting; building automation and controls; and related specialty services.

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