Comfort Systems USA (NYSE:FIX) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Comfort Systems USA from “hold” to “strong-buy,” adding to a broadly bullish analyst backdrop. MarketBeat says the stock now carries a consensus “Buy” rating with an average price target of $1,923.20.
• The company posted a strong quarterly beat, reporting EPS of $10.51 versus $6.81 expected and revenue of $2.87 billion versus $2.39 billion estimated. Revenue rose 56.5% year over year, and the firm continues to show high profitability with a 51.69% return on equity.
• Shares traded near recent highs, opening at $1,886.97 with a market cap of $66.42 billion. The article also notes recent insider selling, including trades by the CAO and CFO, while institutional ownership remains very high at 96.51%.

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

FIX has been the topic of a number of other reports. Glj Research began coverage on Comfort Systems USA in a research report on Monday, April 20th. They issued a "buy" rating and a $2,001.00 target price on the stock. KeyCorp upgraded Comfort Systems USA from a "sector weight" rating to an "overweight" rating and set a $2,004.00 target price on the stock in a research report on Friday, April 24th. Wall Street Zen downgraded Comfort Systems USA from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. UBS Group boosted their target price on Comfort Systems USA from $1,680.00 to $1,992.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Comfort Systems USA in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $1,923.20.

Comfort Systems USA Stock Performance

NYSE FIX opened at $1,886.97 on Monday. The firm has a market cap of $66.42 billion, a price-to-earnings ratio of 54.44 and a beta of 1.70. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $1,666.57 and a 200-day moving average price of $1,306.05. Comfort Systems USA has a twelve month low of $465.05 and a twelve month high of $2,073.99.

Comfort Systems USA (NYSE:FIX - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, topping analysts' consensus estimates of $6.81 by $3.70. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.39 billion. Comfort Systems USA had a return on equity of 51.69% and a net margin of 12.07%.The business's quarterly revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.75 earnings per share. As a group, equities research analysts predict that Comfort Systems USA will post 43.17 EPS for the current fiscal year.

Insider Activity

In related news, CAO Julie Shaeff sold 1,123 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the completion of the sale, the chief accounting officer directly owned 12,624 shares of the company's stock, valued at approximately $25,252,670.88. This trade represents a 8.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William George III sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $2,020.96, for a total value of $2,020,960.00. Following the sale, the chief financial officer directly owned 32,804 shares of the company's stock, valued at $66,295,571.84. This represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 29,352 shares of company stock worth $53,724,598 in the last three months. Corporate insiders own 1.24% of the company's stock.

Institutional Investors Weigh In On Comfort Systems USA

Institutional investors and hedge funds have recently modified their holdings of the business. Ameriflex Group Inc. lifted its stake in shares of Comfort Systems USA by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 30 shares of the construction company's stock worth $25,000 after acquiring an additional 15 shares during the last quarter. Core Wealth Advisors LLC bought a new stake in shares of Comfort Systems USA during the 4th quarter worth approximately $28,000. CENTRAL TRUST Co bought a new stake in shares of Comfort Systems USA during the 1st quarter worth approximately $46,000. Ascentis Independent Advisors bought a new stake in shares of Comfort Systems USA during the 1st quarter worth approximately $46,000. Finally, Brown Lisle Cummings Inc. bought a new stake in Comfort Systems USA during the 1st quarter valued at $47,000. 96.51% of the stock is owned by 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.

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