Comfort Systems USA (NYSE:FIX) Stock Rating Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Comfort Systems USA from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy,” with eight Buy ratings and two Hold ratings.
• Shares traded up 6.3% to open at $1,820.80, near the stock’s $2,073.99 12-month high. The company recently exceeded quarterly earnings and revenue expectations, reporting $12.53 EPS and $3.27 billion in revenue.
• Company insiders sold 26,078 shares worth approximately $43.2 million during the last quarter, while institutional investors continue to own a dominant 96.51% of the stock.

Comfort Systems USA (NYSE:FIX - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday, Zacks reports.

FIX has been the subject of several other reports. Erste Group Bank cut Comfort Systems USA from a "buy" rating to a "hold" rating in a research report on Wednesday, July 15th. The Goldman Sachs Group assumed coverage on Comfort Systems USA in a report on Thursday, July 9th. They issued a "buy" rating and a $2,159.00 price target for the company. UBS Group reiterated a "buy" rating on shares of Comfort Systems USA in a research note on Tuesday, September 15th. KeyCorp raised their price objective on shares of Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an "overweight" rating in a report on Monday, July 27th. Finally, Weiss Ratings cut shares of Comfort Systems USA from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, September 11th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $2,082.86.

Comfort Systems USA Trading Up 6.3%

FIX opened at $1,820.80 on Monday. The business has a fifty day moving average price of $1,657.98 and a 200 day moving average price of $1,719.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.21 and a quick ratio of 1.19. Comfort Systems USA has a 12 month low of $770.47 and a 12 month high of $2,073.99. The stock has a market capitalization of $64.08 billion, a price-to-earnings ratio of 44.78 and a beta of 1.66.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The construction company reported $12.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.45 by $2.08. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The business had revenue of $3.27 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter last year, the business posted $6.53 EPS. The business's quarterly revenue was up 50.3% compared to the same quarter last year. Sell-side analysts expect that Comfort Systems USA will post 48.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Franklin Myers sold 4,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value 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. The trade was a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 26,078 shares of company stock worth $43,211,828 in the last quarter. 1.24% of the stock is owned by insiders.

Institutional Trading of Comfort Systems USA

Institutional investors and hedge funds have recently bought and sold shares of the business. Signature Equity Partners LLC increased its stake in Comfort Systems USA by 16.7% during the first quarter. Signature Equity Partners LLC now owns 35 shares of the construction company's stock worth $48,000 after acquiring an additional 5 shares during the last quarter. Capital Advisors Inc. OK lifted its stake in shares of Comfort Systems USA by 1.9% in the 2nd quarter. Capital Advisors Inc. OK now owns 321 shares of the construction company's stock valued at $636,000 after purchasing an additional 6 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Comfort Systems USA by 3.4% in the 3rd quarter. Versant Capital Management Inc now owns 183 shares of the construction company's stock valued at $303,000 after purchasing an additional 6 shares in the last quarter. Coston McIsaac & Partners grew its holdings in shares of Comfort Systems USA by 3.0% during the 1st quarter. Coston McIsaac & Partners now owns 239 shares of the construction company's stock worth $329,000 after purchasing an additional 7 shares during the period. Finally, Petra Financial Advisors Inc. grew its holdings in shares of Comfort Systems USA by 0.7% during the 1st quarter. Petra Financial Advisors Inc. now owns 1,080 shares of the construction company's stock worth $1,489,000 after purchasing an additional 7 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

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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