Comfort Systems USA, Inc. (NYSE:FIX) Stock Has Average Target Price of $1,916.14

Shares of Comfort Systems USA, Inc. (NYSE:FIX) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $1,916.14.

FIX has been the subject of a number of research analyst reports. UBS Group cut their target price on shares of Comfort Systems USA from $2,225.00 to $1,900.00 and set a “buy” rating for the company in a research report on Monday, October 26th. Erste Group Bank lowered shares of Comfort Systems USA from a “buy” rating to a “hold” rating in a report on Wednesday, July 15th. Weiss Ratings downgraded Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. DA Davidson set a $1,850.00 price objective on Comfort Systems USA in a research report on Monday, October 26th. Finally, Zacks Research downgraded Comfort Systems USA from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th.

Comfort Systems USA Trading Down 0.4%

FIX opened at $1,227.74 on Friday. The firm has a market cap of $42.96 billion, a price-to-earnings ratio of 26.51 and a beta of 1.64. The business’s 50 day moving average is $1,561.25 and its two-hundred day moving average is $1,597.15. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 0.01. Comfort Systems USA has a 52 week low of $841.66 and a 52 week high of $2,073.99.

Comfort Systems USA (NYSE:FIX) last announced its quarterly earnings data on Thursday, October 22nd. The construction company reported $13.91 EPS for the quarter, beating analysts’ consensus estimates of $12.85 by $1.06. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.40 billion. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. The business’s revenue for the quarter was up 53.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.25 earnings per share. On average, research analysts predict that Comfort Systems USA will post 50.32 EPS for the current year.

Comfort Systems USA Cuts Dividend

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

Insider Activity

In related news, insider Brian E. Lane sold 16,024 shares of Comfort Systems USA stock in a transaction on 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 completion of the transaction, the insider directly owned 145,065 shares in the company, valued at approximately $233,294,983.65. This trade represents a 9.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William George, III sold 2,554 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 30,250 shares of the company’s stock, valued at $56,254,412.50. The trade was a 7.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,078 shares of company stock valued at $43,211,828 over the last ninety days. 1.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comfort Systems USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in FIX. BlackRock Inc. acquired a new position in Comfort Systems USA during the 2nd quarter valued at about $6,734,037,000. Deutsche Bank AG acquired a new position in Comfort Systems USA during the 2nd quarter worth about $443,751,000. Legal & General Group Plc acquired a new position in shares of Comfort Systems USA during the 2nd quarter worth about $400,096,000. Bank of New York Mellon Corp bought a new position in shares of Comfort Systems USA during the second quarter worth about $370,479,000. Finally, Amundi raised its holdings in shares of Comfort Systems USA by 114.1% in the 2nd quarter. Amundi now owns 292,904 shares of the construction company’s stock valued at $580,521,000 after purchasing an additional 156,069 shares during the period. 96.51% of the stock is currently owned by institutional investors and hedge funds.

About Comfort Systems USA

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.