Comfort Systems USA (NYSE:FIX) Stock Rating Lowered by Erste Group Bank

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

Other equities analysts also recently issued reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Comfort Systems USA in a report on Monday, April 20th. The Goldman Sachs Group started coverage on shares of Comfort Systems USA in a research note on Thursday, July 9th. They issued a “buy” rating and a $2,159.00 price objective for the company. Glj Research initiated coverage on Comfort Systems USA in a research report on Monday, April 20th. They set a “buy” rating and a $2,001.00 target price for the company. Wall Street Zen cut Comfort Systems USA from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, Zacks Research cut Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,015.43.

Comfort Systems USA Stock Down 3.2%

NYSE FIX opened at $1,681.50 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 0.01. Comfort Systems USA has a 52 week low of $513.99 and a 52 week high of $2,073.99. The firm has a market capitalization of $59.19 billion, a price-to-earnings ratio of 48.51 and a beta of 1.66. The company has a fifty day moving average of $1,867.00 and a two-hundred day moving average of $1,539.29.

Comfort Systems USA (NYSE:FIX) last announced its earnings results on Thursday, April 23rd. The construction company reported $10.51 earnings per share for the quarter, beating the consensus estimate of $6.81 by $3.70. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 56.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.75 earnings per share. On average, analysts predict that Comfort Systems USA will post 43.39 earnings per share for the current year.

Insider Buying and Selling at Comfort Systems USA

In other news, CAO Julie Shaeff sold 1,123 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $2,000.37, for a total transaction of $2,246,415.51. Following the transaction, the chief accounting officer owned 12,624 shares in the company, valued at approximately $25,252,670.88. This trade represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian E. Lane sold 11,113 shares of Comfort Systems USA stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,969.84, for a total value of $21,890,831.92. Following the completion of the sale, the insider owned 161,089 shares of the company’s stock, valued at $317,319,555.76. The trade was a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 30,778 shares of company stock worth $59,746,124. Insiders own 1.24% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Comfort Systems USA by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 4,310,126 shares of the construction company’s stock worth $4,022,597,000 after purchasing an additional 625,567 shares during the period. Norges Bank purchased a new position in Comfort Systems USA during the fourth quarter valued at approximately $469,606,000. State Street Corp increased its holdings in Comfort Systems USA by 35.6% during the fourth quarter. State Street Corp now owns 1,428,674 shares of the construction company’s stock valued at $1,333,367,000 after buying an additional 375,118 shares during the period. Geode Capital Management LLC increased its holdings in Comfort Systems USA by 39.0% during the fourth quarter. Geode Capital Management LLC now owns 1,185,909 shares of the construction company’s stock valued at $1,103,453,000 after buying an additional 332,441 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Comfort Systems USA by 37,987.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 310,031 shares of the construction company’s stock worth $289,349,000 after buying an additional 309,217 shares in the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.

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.