Comfort Systems USA, Inc. (NYSE:FIX) Stock Now Rated “Buy” by Wall Street Brokerages

Shares of Comfort Systems USA, Inc. (NYSE:FIX) have been given an average rating of “Buy” by the ten research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $1,916.14.

A number of research firms have weighed in on FIX. KeyCorp reduced their target price on shares of Comfort Systems USA from $2,125.00 to $1,979.00 and set an “overweight” rating on the stock in a report on Monday, October 26th. The Goldman Sachs Group set a $1,875.00 price target on shares of Comfort Systems USA in a research note on Tuesday, October 20th. Erste Group Bank lowered shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Zacks Research upgraded shares of Comfort Systems USA from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Oppenheimer reduced their price objective on shares of Comfort Systems USA from $2,400.00 to $2,000.00 and set an “outperform” rating on the stock in a research note on Monday, October 26th.

Comfort Systems USA Stock Down 11.9%

Shares of FIX opened at $961.66 on Friday. Comfort Systems USA has a 52 week low of $841.66 and a 52 week high of $2,073.99. The stock has a market capitalization of $33.65 billion, a price-to-earnings ratio of 23.56 and a beta of 1.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.13 and a current ratio of 1.15. The stock has a fifty day moving average of $1,522.86 and a 200-day moving average of $1,598.10.

Comfort Systems USA (NYSE:FIX) last issued its quarterly earnings data on Thursday, October 22nd. The construction company reported $13.91 earnings per share for the quarter, topping analysts’ consensus estimates of $12.85 by $1.06. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.40 billion. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. Comfort Systems USA’s quarterly revenue was up 53.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.25 EPS. As a group, sell-side analysts anticipate that Comfort Systems USA will post 50.32 earnings per share for the current fiscal year.

Comfort Systems USA Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Thursday, November 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.40 annualized dividend and a yield of 0.0%. This is a decrease from Comfort Systems USA’s previous quarterly dividend of $0.90. Comfort Systems USA’s dividend payout ratio is 7.77%.

Insiders Place Their Bets

In other news, CFO William George, III sold 2,554 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $1,859.65, for a total value of $4,749,546.10. Following the completion of the sale, the chief financial officer owned 30,250 shares of the company’s stock, valued at approximately $56,254,412.50. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian E. Lane sold 16,024 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,608.21, for a total value of $25,769,957.04. Following the transaction, the insider owned 145,065 shares of the company’s stock, valued at $233,294,983.65. This trade represents a 9.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 26,078 shares of company stock valued at $43,211,828. 1.24% of the stock is currently owned by company insiders.

Institutional Trading of Comfort Systems USA

Several institutional investors have recently added to or reduced their stakes in the stock. Signature Equity Partners LLC increased its stake in Comfort Systems USA by 16.7% in the 1st quarter. Signature Equity Partners LLC now owns 35 shares of the construction company’s stock worth $48,000 after acquiring an additional 5 shares during the last quarter. Capital Advisors Inc. OK lifted its position in Comfort Systems USA by 1.9% during 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 during the last quarter. Versant Capital Management Inc grew its stake 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 buying an additional 6 shares in the last quarter. LifeGoal Investments LLC grew its stake 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 buying an additional 6 shares in the last quarter. Finally, Petra Financial Advisors Inc. increased its holdings in shares of Comfort Systems USA by 0.7% in the 1st quarter. Petra Financial Advisors Inc. now owns 1,080 shares of the construction company’s stock worth $1,489,000 after buying an additional 7 shares during the last quarter. 96.51% of the stock is currently owned by 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.