Zacks Research Downgrades Comfort Systems USA (NYSE:FIX) to Hold

by · The Markets Daily

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

Several other equities research analysts have also recently commented on the company. KeyCorp upped their price target on Comfort Systems USA from $2,004.00 to $2,110.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Weiss Ratings cut shares of Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 11th. The Goldman Sachs Group began coverage on shares of Comfort Systems USA in a report on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 target price for the company. UBS Group reaffirmed a “buy” rating on shares of Comfort Systems USA in a report on Tuesday, September 15th. Finally, Erste Group Bank cut Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,082.86.

View Our Latest Report on Comfort Systems USA

Comfort Systems USA Price Performance

Shares of FIX opened at $1,820.80 on Monday. Comfort Systems USA has a fifty-two week low of $770.47 and a fifty-two week high of $2,073.99. The company has a market capitalization of $64.08 billion, a price-to-earnings ratio of 44.78 and a beta of 1.66. The firm has a 50-day simple moving average of $1,657.98 and a 200-day simple moving average of $1,719.75. 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 (NYSE:FIX – Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $2.99 billion. Comfort Systems USA had a return on equity of 53.55% and a net margin of 12.77%.The firm’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.53 EPS. On average, equities research analysts anticipate that Comfort Systems USA will post 48.15 earnings per share for the current year.

Insider Transactions at Comfort Systems USA

In other news, CFO William George, III sold 2,554 shares of Comfort Systems USA 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 completion of the sale, the chief financial officer directly owned 30,250 shares in the company, valued at $56,254,412.50. The trade was a 7.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian E. Lane sold 16,024 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total transaction of $25,769,957.04. Following the sale, the insider owned 145,065 shares in the company, valued at approximately $233,294,983.65. This trade represents a 9.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,078 shares of company stock valued at $43,211,828 over the last three months. 1.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FIX. BlackRock Inc. purchased a new position in Comfort Systems USA during the second quarter worth approximately $6,734,037,000. Amundi boosted its holdings in Comfort Systems USA by 114.1% in the second quarter. Amundi now owns 292,904 shares of the construction company’s stock valued at $580,521,000 after acquiring an additional 156,069 shares during the last quarter. Value Aligned Research Advisors LLC increased its stake in Comfort Systems USA by 14.0% during the second quarter. Value Aligned Research Advisors LLC now owns 243,607 shares of the construction company’s stock worth $482,817,000 after acquiring an additional 29,970 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Comfort Systems USA in the 2nd quarter worth about $443,751,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Comfort Systems USA by 38.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 201,945 shares of the construction company’s stock worth $400,245,000 after purchasing an additional 55,938 shares during the period. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Comfort Systems USA

(Get Free Report)

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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