Comfort Systems USA (NYSE:FIX) Now Covered by DA Davidson

Key Points

• DA Davidson initiated coverage of Comfort Systems USA with a “buy” rating and a $2,100 price target, implying approximately 25.4% upside from the reported share price.
• Comfort Systems USA reported strong quarterly results, with earnings per share of $12.53 beating estimates by $2.08 and revenue rising 50.3% year over year to $3.27 billion.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and average price target of $2,082.86, although insiders have sold about $31.2 million of shares over the past three months.

Analysts at DA Davidson initiated coverage on shares of Comfort Systems USA (NYSE:FIX - Get Free Report) in a report released on Friday. The brokerage set a "buy" rating and a $2,100.00 price target on the construction company's stock. DA Davidson's price objective would suggest a potential upside of 25.42% from the company's current price.

A number of other brokerages also recently commented on FIX. Zacks Research upgraded shares of Comfort Systems USA from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Wall Street Zen cut Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Oppenheimer started coverage on Comfort Systems USA in a research note on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 target price for the company. Stifel Nicolaus set a $1,910.00 price target on Comfort Systems USA in a report on Monday, July 27th. Finally, Erste Group Bank downgraded Comfort Systems USA from a "buy" rating to a "hold" rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $2,082.86.

Comfort Systems USA Stock Down 1.3%

Shares of Comfort Systems USA stock opened at $1,674.43 on Friday. The company has a market cap of $58.92 billion, a P/E ratio of 41.18 and a beta of 1.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. Comfort Systems USA has a one year low of $670.19 and a one year high of $2,073.99. The firm has a fifty day moving average of $1,788.02 and a two-hundred day moving average of $1,655.06.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its 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. Comfort Systems USA had a net margin of 12.77% and a return on equity of 53.55%. The company 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 earned $6.53 EPS. The business's revenue was up 50.3% on a year-over-year basis. On average, analysts forecast that Comfort Systems USA will post 46.77 earnings per share for the current year.

Insiders Place Their Bets

In other Comfort Systems USA news, CFO William George III sold 2,554 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer directly owned 30,250 shares in the company, valued at approximately $56,254,412.50. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rhoman J. Hardy sold 342 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $1,900.08, for a total transaction of $649,827.36. Following the completion of the transaction, the director directly owned 1,890 shares of the company's stock, valued at approximately $3,591,151.20. This trade represents a 15.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,096 shares of company stock worth $31,186,647. 1.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comfort Systems USA

Hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in Comfort Systems USA by 41.1% in the first quarter. NewEdge Advisors LLC now owns 3,412 shares of the construction company's stock valued at $1,100,000 after purchasing an additional 993 shares during the last quarter. Focus Partners Wealth raised its stake in shares of Comfort Systems USA by 110.6% during the 1st quarter. Focus Partners Wealth now owns 2,300 shares of the construction company's stock worth $741,000 after buying an additional 1,208 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Comfort Systems USA by 40.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,079 shares of the construction company's stock worth $579,000 after buying an additional 313 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Comfort Systems USA in the 2nd quarter worth about $567,000. Finally, Sei Investments Co. boosted its position in shares of Comfort Systems USA by 69.2% in the 2nd quarter. Sei Investments Co. now owns 43,631 shares of the construction company's stock worth $23,395,000 after buying an additional 17,839 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.

About Comfort Systems USA

Comfort Systems USA, Inc is a U.S.-based mechanical contracting company that provides a range of heating, ventilation and air conditioning (HVAC) services to commercial, industrial and institutional customers. The company focuses on the design, installation, maintenance and repair of HVAC systems, and it supports projects from initial engineering and system selection through long-term service agreements and upgrades.

Its service offerings include new construction and retrofit installations, preventive and corrective maintenance, emergency repair, energy management and building automation systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source