Comfort Systems USA (NYSE:FIX) Price Target Raised to $45.00 at DA Davidson

Comfort Systems USA (NYSE:FIX) had its price objective lifted by DA Davidson from $32.00 to $45.00 in a research note issued to investors on Wednesday, The Fly reports. DA Davidson also issued estimates for Comfort Systems USA’s Q3 2020 earnings at $1.02 EPS, FY2020 earnings at $3.50 EPS and FY2021 earnings at $2.80 EPS.

FIX has been the subject of several other reports. Zacks Investment Research upgraded Comfort Systems USA from a strong sell rating to a hold rating in a research note on Wednesday, July 1st. ValuEngine cut Comfort Systems USA from a hold rating to a sell rating in a report on Tuesday. TheStreet raised Comfort Systems USA from a c rating to a b- rating in a report on Wednesday, June 24th. Finally, Sidoti upped their price objective on Comfort Systems USA from $31.00 to $40.00 and gave the stock a neutral rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company’s stock. Comfort Systems USA presently has a consensus rating of Hold and a consensus target price of $47.00.

Shares of Comfort Systems USA stock traded up $0.78 during trading hours on Wednesday, reaching $49.71. 410,488 shares of the stock traded hands, compared to its average volume of 260,503. The company has a 50 day moving average price of $40.19 and a 200 day moving average price of $39.77. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 14.37 and a beta of 1.07. Comfort Systems USA has a one year low of $27.54 and a one year high of $53.29. The company has a quick ratio of 1.45, a current ratio of 1.16 and a debt-to-equity ratio of 0.50.

Comfort Systems USA (NYSE:FIX) last released its quarterly earnings results on Monday, July 27th. The construction company reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.63. The business had revenue of $743.50 million during the quarter, compared to the consensus estimate of $692.90 million. Comfort Systems USA had a return on equity of 21.07% and a net margin of 4.44%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.65 EPS. Sell-side analysts anticipate that Comfort Systems USA will post 3.5 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Friday, August 14th will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.42 annualized dividend and a yield of 0.84%. Comfort Systems USA’s payout ratio is presently 14.00%.

In related news, Chairman Franklin Myers purchased 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $29.75 per share, for a total transaction of $104,125.00. Also, Director Vance W. Tang purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were bought at an average price of $31.94 per share, for a total transaction of $319,400.00. Following the acquisition, the director now directly owns 30,871 shares in the company, valued at approximately $986,019.74. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,115 shares of company stock worth $444,269 in the last 90 days. 3.23% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in FIX. Goldman Sachs Group Inc. grew its position in Comfort Systems USA by 34.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 130,792 shares of the construction company’s stock valued at $6,520,000 after acquiring an additional 33,213 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Comfort Systems USA by 38.2% during the fourth quarter. Cubist Systematic Strategies LLC now owns 16,764 shares of the construction company’s stock valued at $836,000 after acquiring an additional 4,637 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Comfort Systems USA during the fourth quarter valued at approximately $70,000. Janus Henderson Group PLC raised its position in Comfort Systems USA by 6.3% during the fourth quarter. Janus Henderson Group PLC now owns 9,239 shares of the construction company’s stock valued at $461,000 after acquiring an additional 545 shares in the last quarter. Finally, Brinker Capital Inc. raised its position in Comfort Systems USA by 2.6% during the fourth quarter. Brinker Capital Inc. now owns 19,632 shares of the construction company’s stock valued at $979,000 after acquiring an additional 496 shares in the last quarter. 92.40% of the stock is currently owned by institutional investors.

About Comfort Systems USA

Comfort Systems USA, Inc provides mechanical installation, renovation, maintenance, repair, and replacement services for the mechanical services industry in the United States. It is involved in the design, engineering, integration, installation, and start-up of mechanical and related systems; and maintenance, repair, replacement, renovation, expansion, reconfiguration, and monitoring of mechanical systems, including heating, ventilation, and air conditioning (HVAC) systems, as well as plumbing, piping and controls, off-site construction, electrical, monitoring, and fire protection.

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