Zacks Investment Research cut shares of Federal Signal Corporation (NYSE:FSS) from a buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Federal Signal Corp. designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. It operates in two segments, Environmental Solutions Group and Safety and Security Systems Group. The Environmental Solutions Group segment offers a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks, and water blasting equipment under the Elgin, Vactor, Guzzler, Westech, and Jetstream brand names. The Safety and Security Systems Group segment provides systems and products for campus and community alerting, emergency vehicles, first responder interoperable communications, and industrial communications, command and municipal networked security. This segment sells its products under the Federal Signal VAMA, and Victor brand names. It sells its products through wholesalers, independent manufacturer representatives, original equipment manufacturers, as well as independent foreign distributors. “

Separately, BidaskClub upgraded shares of Federal Signal Corporation from a hold rating to a buy rating in a report on Tuesday, June 13th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Federal Signal Corporation has an average rating of Buy and a consensus target price of $21.50.

Shares of Federal Signal Corporation (NYSE FSS) traded up 0.61% on Tuesday, hitting $21.53. 101,786 shares of the stock were exchanged. The stock’s 50-day moving average is $19.99 and its 200-day moving average is $17.36. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 32.87 and a beta of 1.38. Federal Signal Corporation has a 1-year low of $11.68 and a 1-year high of $21.94.

Federal Signal Corporation (NYSE:FSS) last announced its earnings results on Tuesday, August 8th. The conglomerate reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The company had revenue of $224.40 million during 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 revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 earnings per share. Analysts forecast that Federal Signal Corporation will post $0.79 earnings per share for the current year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Federal Signal Corporation by 45,296.2% during the first quarter. BlackRock Inc. now owns 7,375,976 shares of the conglomerate’s stock valued at $101,863,000 after buying an additional 7,359,728 shares during the period. Franklin Resources Inc. grew its position in Federal Signal Corporation by 8.0% during the second quarter. Franklin Resources Inc. now owns 5,279,934 shares of the conglomerate’s stock valued at $91,659,000 after buying an additional 391,353 shares during the period. Dimensional Fund Advisors LP grew its position in Federal Signal Corporation by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,032,340 shares of the conglomerate’s stock valued at $69,496,000 after buying an additional 13,042 shares during the period. Vanguard Group Inc. grew its position in Federal Signal Corporation by 3.3% during the second quarter. Vanguard Group Inc. now owns 3,197,214 shares of the conglomerate’s stock valued at $55,503,000 after buying an additional 103,228 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Federal Signal Corporation by 5.2% during the second quarter. Goldman Sachs Group Inc. now owns 2,517,979 shares of the conglomerate’s stock valued at $43,712,000 after buying an additional 123,700 shares during the period. Institutional investors own 83.71% 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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