Comfort Systems USA (NYSE:FIX) Stock Rated Overweight in New Coverage at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Comfort Systems USA with an Overweight rating and a $1,700 price target, implying 52.56% upside from the prior close.
• Analyst sentiment is broadly positive: the stock has a consensus Buy rating and an average price target of $1,889.12, based on one Strong Buy, nine Buy, and one Hold recommendation.
• Comfort Systems beat quarterly expectations, reporting EPS of $13.91 versus $12.85 expected and revenue of $3.77 billion versus $3.40 billion; revenue rose 53.7% year over year.

Equities research analysts at JPMorgan Chase & Co. initiated coverage on shares of Comfort Systems USA (NYSE:FIX - Get Free Report) in a research note issued to investors on Tuesday, Briefing.com reports. The firm set an "overweight" rating and a $1,700.00 price target on the construction company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 52.56% from the company's previous close.

A number of other brokerages have also recently issued reports on FIX. DA Davidson set a $1,850.00 price objective on shares of Comfort Systems USA in a research note on Monday, October 26th. UBS Group dropped their target price on shares of Comfort Systems USA from $2,225.00 to $1,900.00 and set a "buy" rating for the company in a research report on Monday, October 26th. Zacks Research raised Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 3rd. Stifel Nicolaus set a $1,808.00 price target on Comfort Systems USA in a research report on Monday, October 26th. Finally, Oppenheimer decreased their price objective on Comfort Systems USA from $2,400.00 to $2,000.00 and set an "outperform" rating for the company in a research note on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $1,889.12.

Comfort Systems USA Stock Performance

Comfort Systems USA stock opened at $1,114.32 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 0.01. Comfort Systems USA has a 1 year low of $841.66 and a 1 year high of $2,073.99. The company has a market cap of $38.99 billion, a PE ratio of 24.06 and a beta of 1.64. The company's 50-day moving average is $1,502.76 and its two-hundred day moving average is $1,597.32.

Comfort Systems USA (NYSE:FIX - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The construction company reported $13.91 EPS for the quarter, topping the consensus estimate of $12.85 by $1.06. The company had revenue of $3.77 billion during the quarter, compared to analysts' expectations of $3.40 billion. Comfort Systems USA had a net margin of 13.01% and a return on equity of 55.24%. Comfort Systems USA's revenue was up 53.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.25 EPS. Equities analysts anticipate that Comfort Systems USA will post 50.32 earnings per share for the current year.

Insider Buying and Selling at Comfort Systems USA

In related news, insider Brian E. 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CFO William George, III sold 2,554 shares of the company's stock in a transaction 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 owned 30,250 shares of the company's stock, valued at approximately $56,254,412.50. This represents a 7.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.24% of the company's stock.

Institutional Trading of Comfort Systems USA

A number of hedge funds have recently made changes to their positions in FIX. Simplicity Wealth LLC bought a new position in shares of Comfort Systems USA in the second quarter worth about $601,000. IPG Investment Advisors LLC purchased a new position in Comfort Systems USA in the 2nd quarter worth about $1,833,000. Argent Capital Management LLC increased its stake in Comfort Systems USA by 20.8% in the 1st quarter. Argent Capital Management LLC now owns 6,985 shares of the construction company's stock worth $9,632,000 after buying an additional 1,202 shares during the period. NewEdge Advisors LLC lifted its holdings in Comfort Systems USA by 30.5% during the 2nd quarter. NewEdge Advisors LLC now owns 6,476 shares of the construction company's stock valued at $12,835,000 after buying an additional 1,512 shares in the last quarter. Finally, Compass Financial Management LLC bought a new stake in Comfort Systems USA during the 2nd quarter valued at about $2,238,000. 96.51% of the stock is owned by institutional investors and hedge funds.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc is a provider of heating, ventilation and air conditioning (HVAC) and other mechanical services for commercial, industrial and institutional customers. Founded in 1997 and headquartered in Houston, Texas, the company serves customers across the United States through its operating businesses.

Its services include designing and installing HVAC and related mechanical systems for new construction and building renovations, as well as maintaining, repairing and replacing existing equipment.

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