Comfort Systems USA (NYSE:FIX) Rating Lowered to Neutral at Northcoast Research

Key Points

• Comfort Systems USA has been downgraded from a "buy" to a "neutral" rating by Northcoast Research, amidst changing investor sentiment.
• Other analysts, including Wall Street Zen and Stifel Nicolaus, have issued conflicting opinions, with some upgrading the stock and adjusting price targets upward significantly.
• The company's quarterly earnings exceeded expectations, reporting $6.53 earnings per share and a revenue increase of 20.1% year-over-year, indicating strong financial performance.

Northcoast Research lowered shares of Comfort Systems USA (NYSE:FIX - Free Report) from a buy rating to a neutral rating in a research report sent to investors on Monday, MarketBeat.com reports.

Other research analysts have also issued research reports about the company. Wall Street Zen raised Comfort Systems USA from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Stifel Nicolaus boosted their price target on Comfort Systems USA from $512.00 to $581.00 and gave the company a "buy" rating in a research note on Friday, July 11th. DA Davidson upped their target price on Comfort Systems USA from $465.00 to $630.00 and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, UBS Group increased their price target on Comfort Systems USA from $545.00 to $710.00 and gave the company a "buy" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $635.60.

Comfort Systems USA Stock Up 0.0%

Comfort Systems USA stock traded up $0.28 during midday trading on Monday, reaching $703.25. The stock had a trading volume of 686,295 shares, compared to its average volume of 479,043. The firm's fifty day simple moving average is $528.17 and its 200-day simple moving average is $441.01. Comfort Systems USA has a 1-year low of $272.92 and a 1-year high of $718.40. The stock has a market capitalization of $24.81 billion, a P/E ratio of 36.14 and a beta of 1.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.13.

Comfort Systems USA (NYSE:FIX - Get Free Report) last announced its earnings results on Thursday, July 24th. The construction company reported $6.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.84 by $1.69. Comfort Systems USA had a return on equity of 39.33% and a net margin of 9.01%. The business had revenue of $2.17 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the firm earned $3.74 EPS. Comfort Systems USA's revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, analysts expect that Comfort Systems USA will post 16.85 EPS for the current fiscal year.

Comfort Systems USA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Thursday, August 14th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This is a positive change from Comfort Systems USA's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 0.3%. Comfort Systems USA's payout ratio is currently 9.25%.

Insiders Place Their Bets

In related news, Director Pablo G. Mercado sold 1,800 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $436.10, for a total transaction of $784,980.00. Following the sale, the director owned 7,236 shares in the company, valued at $3,155,619.60. This represents a 19.92% 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 Darcy Anderson sold 8,000 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $506.82, for a total value of $4,054,560.00. Following the sale, the director owned 26,535 shares in the company, valued at approximately $13,448,468.70. The trade was a 23.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,300 shares of company stock worth $18,485,795 in the last quarter. 1.59% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Comfort Systems USA

Several institutional investors and hedge funds have recently made changes to their positions in FIX. Jones Financial Companies Lllp boosted its position in shares of Comfort Systems USA by 2,872,410.3% during the 1st quarter. Jones Financial Companies Lllp now owns 833,028 shares of the construction company's stock valued at $268,510,000 after purchasing an additional 832,999 shares in the last quarter. Norges Bank bought a new position in Comfort Systems USA in the fourth quarter worth approximately $196,154,000. AQR Capital Management LLC boosted its holdings in Comfort Systems USA by 106.4% in the first quarter. AQR Capital Management LLC now owns 530,428 shares of the construction company's stock worth $165,228,000 after acquiring an additional 273,453 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Comfort Systems USA by 39,575.2% in the first quarter. GAMMA Investing LLC now owns 254,318 shares of the construction company's stock worth $81,974,000 after acquiring an additional 253,677 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Comfort Systems USA by 191.2% in the fourth quarter. JPMorgan Chase & Co. now owns 380,896 shares of the construction company's stock worth $161,523,000 after acquiring an additional 250,085 shares in the last quarter. Institutional investors own 96.51% of the company's stock.

About Comfort Systems USA

Comfort Systems USA, Inc, together with its subsidiaries, provides mechanical and electrical installation, renovation, maintenance, repair, and replacement services for the mechanical and electrical services industry in the United States. It operates through two segments, Mechanical and Electrical. The company offers heating, ventilation, and air conditioning systems, as well as plumbing, electrical, piping and controls, off-site construction, monitoring, and fire protection.