JPMorgan Chase & Co. Initiates Coverage on Comfort Systems USA (NYSE:FIX)

Equities researchers at JPMorgan Chase & Co. started coverage on shares of Comfort Systems USA (NYSE:FIX) in a report issued on Tuesday, Briefing.com reports. The brokerage set an “overweight” rating and a $1,700.00 price target on the construction company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 52.56% from the company’s current price.

Several other equities analysts have also commented on FIX. Erste Group Bank lowered Comfort Systems USA from a “buy” rating to a “hold” rating in a research note on Wednesday, July 15th. DA Davidson set a $1,850.00 price objective on shares of Comfort Systems USA in a research note on Monday, October 26th. Stifel Nicolaus set a $1,808.00 price objective on shares of Comfort Systems USA in a research note on Monday, October 26th. KeyCorp dropped 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. Finally, Weiss Ratings downgraded shares of Comfort Systems USA from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $1,889.12.

Comfort Systems USA Trading Up 9.5%

FIX opened at $1,114.32 on Tuesday. The stock’s fifty day moving average is $1,502.76 and its two-hundred day moving average is $1,597.32. The company has a market capitalization of $38.99 billion, a P/E ratio of 24.06 and a beta of 1.64. Comfort Systems USA has a 52 week low of $841.66 and a 52 week high of $2,073.99. 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 (NYSE:FIX) last issued its earnings results on Thursday, October 22nd. The construction company reported $13.91 earnings per share for the quarter, beating analysts’ consensus estimates of $12.85 by $1.06. Comfort Systems USA had a return on equity of 55.24% and a net margin of 13.01%. The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the company posted $8.25 EPS. Comfort Systems USA’s revenue was up 53.7% on a year-over-year basis. Analysts forecast that Comfort Systems USA will post 50.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Brian E. Lane sold 16,024 shares of the firm’s 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William George, III sold 2,554 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 30,250 shares in the company, valued at approximately $56,254,412.50. This trade represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.24% of the company’s stock.

Institutional Investors Weigh In On Comfort Systems USA

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Comfort Systems USA during the second quarter worth about $6,734,037,000. Deutsche Bank AG acquired a new position in shares of Comfort Systems USA during the second quarter valued at about $443,751,000. Legal & General Group Plc acquired a new position in shares of Comfort Systems USA during the second quarter valued at about $400,096,000. Bank of New York Mellon Corp purchased a new position in shares of Comfort Systems USA in the 2nd quarter valued at approximately $370,479,000. Finally, Amundi raised its position 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 last quarter. Institutional investors and hedge funds own 96.51% of the company’s stock.

About Comfort Systems USA

Comfort Systems USA, Inc is a provider of heating, ventilation and air conditioning (HVAC) and other mechanical services for commercial, industrial and institutional customers. Founded in 1997 and headquartered in Houston, Texas, the company serves customers across the United States through its operating businesses.

Its services include designing and installing HVAC and related mechanical systems for new construction and building renovations, as well as maintaining, repairing and replacing existing equipment.