Federal Signal Corporation (FSS) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Federal Signal Corporation (NYSE:FSS) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. The brokerage currently has $21.00 price objective on the conglomerate’s stock.
According to Zacks, “Federal Signal Corporation is a manufacturer and worldwide supplier of safety, signaling and communications equipment, hazardous area lighting, fire rescue products, street sweeping and vacuum loader vehicles, parking control equipment, custom on-premise signage, carbide cutting tools, precision punches and related die components. “
Several other research analysts also recently issued reports on FSS. KeyCorp upgraded shares of Federal Signal Corporation from a sector weight rating to an overweight rating and set a $20.00 price target on the stock in a research report on Tuesday, May 9th. BidaskClub upgraded shares of Federal Signal Corporation from a hold rating to a buy rating in a research report on Tuesday, June 13th. Finally, TheStreet upgraded shares of Federal Signal Corporation from a c rating to a b- rating in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and a consensus target price of $20.50.
Shares of Federal Signal Corporation (NYSE FSS) traded down 0.22% during midday trading on Thursday, hitting $18.26. 41,663 shares of the stock were exchanged. The firm has a 50-day moving average price of $18.24 and a 200-day moving average price of $16.08. The company has a market cap of $1.09 billion, a PE ratio of 27.88 and a beta of 1.37. Federal Signal Corporation has a 12-month low of $11.68 and a 12-month high of $20.13.
Federal Signal Corporation (NYSE:FSS) last issued its quarterly earnings results on Tuesday, August 8th. The conglomerate reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The business had revenue of $224.40 million for the quarter, compared to the consensus estimate of $206.53 million. Federal Signal Corporation had a net margin of 5.20% and a return on equity of 10.59%. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. On average, equities analysts predict that Federal Signal Corporation will post $0.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, August 11th. This represents a $0.28 dividend on an annualized basis and a yield of 1.53%. Federal Signal Corporation’s payout ratio is presently 42.42%.
In other Federal Signal Corporation news, VP Samuel Miceli sold 2,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $16.05, for a total transaction of $32,100.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSS. Teachers Advisors LLC increased its position in Federal Signal Corporation by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 103,602 shares of the conglomerate’s stock worth $1,617,000 after buying an additional 2,015 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Federal Signal Corporation by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the conglomerate’s stock worth $336,000 after buying an additional 200 shares during the last quarter. Nationwide Fund Advisors increased its position in Federal Signal Corporation by 5.0% in the first quarter. Nationwide Fund Advisors now owns 96,237 shares of the conglomerate’s stock worth $1,329,000 after buying an additional 4,573 shares during the last quarter. Wells Fargo & Company MN increased its position in Federal Signal Corporation by 1.8% in the first quarter. Wells Fargo & Company MN now owns 164,490 shares of the conglomerate’s stock worth $2,272,000 after buying an additional 2,977 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Federal Signal Corporation by 4.6% in the first quarter. Great West Life Assurance Co. Can now owns 82,954 shares of the conglomerate’s stock worth $1,145,000 after buying an additional 3,639 shares during the last quarter. Institutional investors own 81.44% of the company’s stock.
About Federal Signal Corporation
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.
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