Comfort Systems USA (NYSE:FIX) Downgraded by Erste Group Bank to Hold

Comfort Systems USA (NYSE:FIX) was downgraded by equities researchers at Erste Group Bank from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Marketbeat reports.

Several other research firms have also recently weighed in on FIX. Stifel Nicolaus boosted their price objective on Comfort Systems USA from $1,611.00 to $1,819.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. UBS Group raised their target price on Comfort Systems USA from $1,992.00 to $2,125.00 and gave the company a “buy” rating in a report on Monday, June 8th. 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 target on the stock. Zacks Research cut Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. Finally, KeyCorp upgraded shares of Comfort Systems USA from a “sector weight” rating to an “overweight” rating and set a $2,004.00 price objective on the stock in a research note on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,015.43.

Comfort Systems USA Stock Performance

NYSE:FIX traded down $60.51 during mid-day trading on Wednesday, hitting $1,714.59. The stock had a trading volume of 66,075 shares, compared to its average volume of 441,545. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 0.01. The company has a 50 day simple moving average of $1,877.64 and a 200-day simple moving average of $1,528.74. The stock has a market capitalization of $60.35 billion, a price-to-earnings ratio of 49.50 and a beta of 1.66. Comfort Systems USA has a 52 week low of $513.99 and a 52 week high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $10.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.81 by $3.70. The company had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Comfort Systems USA had a net margin of 12.07% and a return on equity of 51.69%. The business’s revenue was up 56.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.75 EPS. On average, research analysts expect that Comfort Systems USA will post 43.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Julie Shaeff sold 1,123 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total value of $2,246,415.51. Following the completion of the transaction, the chief accounting officer owned 12,624 shares in the company, valued at $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 available at the SEC website. Also, Director Franklin Myers sold 6,700 shares of the firm’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 completion of the transaction, the director directly owned 62,115 shares of the company’s stock, valued at $121,401,904.05. This represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 30,778 shares of company stock valued at $59,746,124. 1.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comfort Systems USA

Several large investors have recently modified their holdings of FIX. Core Wealth Advisors LLC acquired a new stake in Comfort Systems USA during the 4th quarter worth approximately $28,000. Kemnay Advisory Services Inc. acquired a new position in shares of Comfort Systems USA in the fourth quarter worth approximately $33,000. Carolina Wealth Advisors LLC lifted its holdings in Comfort Systems USA by 63.6% in the second quarter. Carolina Wealth Advisors LLC now owns 18 shares of the construction company’s stock valued at $36,000 after buying an additional 7 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of Comfort Systems USA by 29.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 40 shares of the construction company’s stock valued at $37,000 after acquiring an additional 9 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its holdings in Comfort Systems USA by 29.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 44 shares of the construction company’s stock worth $41,000 after acquiring an additional 10 shares in the last quarter. 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.