Comfort Systems USA (NYSE:FIX) Rating Lowered to Hold at Erste Group Bank

Key Points

• Erste Group Bank lowered Comfort Systems USA from buy to hold, even though most other analysts remain bullish. MarketBeat shows the stock still carries an average Moderate Buy rating with a consensus target price of about $2,015.43.
• The stock was down 3.4% on Wednesday, trading at $1,714.59 after a steep drop from its recent levels. Comfort Systems USA still has strong liquidity and a large market cap, but it remains volatile with a beta of 1.66.
• The company recently posted strong quarterly results, beating expectations with $10.51 EPS versus $6.81 expected and revenue of $2.87 billion, up 56.5% year over year. Insider selling has also continued, including transactions by the CAO and a director in recent months.

Comfort Systems USA (NYSE:FIX - Get Free Report) was downgraded by analysts at Erste Group Bank from a "buy" rating to a "hold" rating in a research note issued on Wednesday, Marketbeat reports.

Other analysts have also issued reports about the stock. Oppenheimer initiated coverage on shares of Comfort Systems USA in a research note on Thursday, May 28th. They set an "outperform" rating and a $2,200.00 price objective for the company. UBS Group increased their price objective on shares of Comfort Systems USA from $1,992.00 to $2,125.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Weiss Ratings reiterated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Monday, April 20th. Finally, Stifel Nicolaus upped their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,015.43.

Comfort Systems USA Trading Down 3.4%

FIX stock traded down $60.51 during trading on Wednesday, hitting $1,714.59. 66,075 shares of the company traded hands, compared to its average volume of 441,545. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.21 and a current ratio of 1.24. The company has a 50-day moving average of $1,877.64 and a 200-day moving average of $1,528.74. The firm has a market capitalization of $60.35 billion, a PE ratio of 49.50 and a beta of 1.66. Comfort Systems USA has a 1 year low of $513.99 and a 1 year high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the firm earned $4.75 EPS. The company's revenue was up 56.5% on a year-over-year basis. Analysts predict that Comfort Systems USA will post 43.39 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Julie Shaeff sold 1,123 shares of Comfort Systems USA stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total value of $2,246,415.51. Following the completion of the transaction, the chief accounting officer owned 12,624 shares in the company, valued at $25,252,670.88. The trade was a 8.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Franklin Myers sold 6,700 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $1,954.47, for a total transaction of $13,094,949.00. Following the sale, the director directly owned 62,115 shares of the company's stock, valued at approximately $121,401,904.05. This represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,778 shares of company stock worth $59,746,124. Company insiders own 1.24% of the company's stock.

Hedge Funds Weigh In On Comfort Systems USA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FIX. Core Wealth Advisors LLC acquired a new stake in shares of Comfort Systems USA in the 4th quarter valued at about $28,000. Kemnay Advisory Services Inc. acquired a new position in shares of Comfort Systems USA in the fourth quarter valued at approximately $33,000. Carolina Wealth Advisors LLC lifted its holdings in shares of Comfort Systems USA by 63.6% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company's stock worth $36,000 after acquiring an additional 7 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in Comfort Systems USA by 29.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company's stock valued at $37,000 after buying an additional 9 shares during the period. Finally, JFS Wealth Advisors LLC raised its holdings in shares of Comfort Systems USA by 29.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company's stock valued at $41,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 96.51% of the company's stock.

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.

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