Comfort Systems USA (NYSE:FIX) Stock Price Down 3% – Here’s Why

Shares of Comfort Systems USA, Inc. (NYSE:FIX) were down 3% during trading on Tuesday. The company traded as low as $1,382.15 and last traded at $1,419.9150. 140,081 shares were traded during trading, a decline of 67% from the average daily volume of 430,784 shares. The stock had previously closed at $1,464.07.

Analyst Upgrades and Downgrades

FIX has been the subject of several recent analyst reports. UBS Group reiterated a “buy” rating on shares of Comfort Systems USA in a report on Tuesday, September 15th. The Goldman Sachs Group set a $1,875.00 price target on shares of Comfort Systems USA in a research report on Tuesday. Zacks Research lowered shares of Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Erste Group Bank cut shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Comfort Systems USA from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,044.43.

Comfort Systems USA Stock Performance

The stock has a market capitalization of $49.27 billion, a PE ratio of 34.43 and a beta of 1.66. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.21. The firm has a 50 day moving average of $1,626.01 and a 200-day moving average of $1,732.35.

Comfort Systems USA (NYSE:FIX) last released its earnings results on Thursday, July 23rd. The construction company reported $12.53 earnings per share for the quarter, beating the consensus estimate of $10.45 by $2.08. The company 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 business’s revenue for the quarter was up 50.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.53 EPS. Research analysts forecast that Comfort Systems USA, Inc. will post 48.79 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO William George, III sold 2,554 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 30,250 shares of the company’s stock, valued at approximately $56,254,412.50. The trade was a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Franklin Myers sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $1,693.92, for a total transaction of $6,775,680.00. Following the completion of the transaction, the director owned 8,495 shares in the company, valued at approximately $14,389,850.40. This represents a 32.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 26,078 shares of company stock worth $43,211,828. 1.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comfort Systems USA

Several institutional investors and hedge funds have recently modified their holdings of the stock. Signature Equity Partners LLC boosted its position in Comfort Systems USA by 16.7% during the first quarter. Signature Equity Partners LLC now owns 35 shares of the construction company’s stock valued at $48,000 after purchasing an additional 5 shares during the last quarter. Capital Advisors Inc. OK grew its stake in Comfort Systems USA by 1.9% in the second quarter. Capital Advisors Inc. OK now owns 321 shares of the construction company’s stock valued at $636,000 after purchasing an additional 6 shares in the last quarter. Versant Capital Management Inc increased its position in Comfort Systems USA by 3.4% in the 3rd quarter. Versant Capital Management Inc now owns 183 shares of the construction company’s stock worth $303,000 after purchasing an additional 6 shares during the last quarter. LifeGoal Investments LLC increased its position in Comfort Systems USA by 1.9% in the 3rd quarter. LifeGoal Investments LLC now owns 314 shares of the construction company’s stock worth $519,000 after purchasing an additional 6 shares during the last quarter. Finally, Coston McIsaac & Partners raised its stake in shares of Comfort Systems USA by 3.0% during the 1st quarter. Coston McIsaac & Partners now owns 239 shares of the construction company’s stock worth $329,000 after purchasing an additional 7 shares in the last quarter. 96.51% of the stock is currently owned by hedge funds and other institutional investors.

Comfort Systems USA Company Profile

Comfort Systems USA, Inc (NYSE:FIX) is a provider of mechanical and electrical contracting services for commercial, industrial, and institutional customers. The company designs, installs, maintains, repairs, and replaces heating, ventilation, air conditioning, and temperature-control systems, as well as plumbing, piping, electrical, and related building systems.

Its services support new construction, building renovations, facility upgrades, and ongoing maintenance. Comfort Systems USA also provides specialized services for data centers, manufacturing facilities, healthcare buildings, educational institutions, and other complex commercial and industrial projects.

Founded in 1997 and headquartered in Houston, Texas, the company operates through a network of regional contracting businesses serving customers across the United States.