Zacks Research Upgrades Comfort Systems USA (NYSE:FIX) to Strong-Buy

Comfort Systems USA (NYSE:FIX) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group assumed coverage on Comfort Systems USA in a research report on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price objective on the stock. Wall Street Zen downgraded Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. UBS Group lifted their target price on shares of Comfort Systems USA from $2,125.00 to $2,225.00 and gave the stock a “buy” rating in a research report on Monday. Oppenheimer assumed coverage on Comfort Systems USA in a report on Thursday, May 28th. They set an “outperform” rating and a $2,200.00 price target on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Comfort Systems USA in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $2,057.86.

Comfort Systems USA Stock Down 6.8%

Shares of Comfort Systems USA stock opened at $1,516.21 on Tuesday. The company has a 50-day simple moving average of $1,822.84 and a two-hundred day simple moving average of $1,585.32. The stock has a market capitalization of $53.36 billion, a PE ratio of 37.29 and a beta of 1.66. Comfort Systems USA has a 52-week low of $655.96 and a 52-week high of $2,073.99. 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) last posted its quarterly earnings results on Thursday, July 23rd. The construction company reported $12.53 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 12.77% and a return on equity of 53.55%. The business’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.53 earnings per share. On average, analysts anticipate that Comfort Systems USA will post 46.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rhoman J. Hardy sold 342 shares of the business’s stock in a transaction on 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 sale, the director owned 1,890 shares of the company’s stock, valued at $3,591,151.20. The trade was a 15.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Franklin Myers sold 6,700 shares of the business’s stock in a transaction on 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. The trade was a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 28,778 shares of company stock valued at $56,257,229. 1.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comfort Systems USA

Several institutional investors and hedge funds have recently bought and sold shares of FIX. Carolina Wealth Advisors LLC grew its holdings in Comfort Systems USA by 63.6% during the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock valued at $36,000 after purchasing an additional 7 shares during the period. Core Wealth Advisors LLC bought a new position in shares of Comfort Systems USA in the fourth quarter worth about $28,000. CENTRAL TRUST Co purchased a new position in shares of Comfort Systems USA during the 1st quarter valued at about $46,000. Ascentis Independent Advisors purchased a new position in shares of Comfort Systems USA during the 1st quarter valued at about $46,000. Finally, Brown Lisle Cummings Inc. purchased a new position in shares of Comfort Systems USA during the 1st quarter valued at about $47,000. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Company Profile

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.