Zacks Investment Research upgraded shares of Federal Signal (NYSE:FSS) from a hold rating to a buy rating in a research report sent to investors on Thursday, Zacks.com reports. Zacks Investment Research currently has $36.00 price target on the conglomerate’s stock.

According to Zacks, “Federal Signal Corporation (NYSE:FSS) is a leader in environmental and safety solutions. It provides products and services to protect people and the planet. Federal Signal is a leading global designer, manufacturer and supplier of products of and total solutions that serve municipal, governmental, industrial and commercial customers. With manufacturing facilities worldwide, the company operates through the following business segments: Environmental Solutions and Safety and Security Systems. Federal Signal is best known for its variety of emergency lighting, sirens, industrial equipment, and public safety solutions under brands including Federal Signal, Elgin, Guzzler, Jetstream, Vactor and Victor. Federal Signal Corporation is headquartered in Oak Brook, IL. “

Separately, ValuEngine cut shares of Federal Signal from a buy rating to a hold rating in a report on Thursday, August 1st.

Shares of FSS stock opened at $33.31 on Thursday. Federal Signal has a 12-month low of $18.59 and a 12-month high of $34.12. The company has a current ratio of 2.21, a quick ratio of 1.17 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $31.71 and its 200 day moving average is $28.29. The stock has a market capitalization of $2.01 billion, a P/E ratio of 23.29 and a beta of 1.60.

Federal Signal (NYSE:FSS) last issued its earnings results on Wednesday, July 31st. The conglomerate reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.09. Federal Signal had a net margin of 9.11% and a return on equity of 17.99%. The company had revenue of $324.30 million for the quarter, compared to analysts’ expectations of $305.40 million. During the same quarter last year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts predict that Federal Signal will post 1.72 earnings per share for the current year.

In other news, Director Richard R. Mudge sold 10,000 shares of Federal Signal stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $29.50, for a total transaction of $295,000.00. Following the transaction, the director now owns 87,678 shares in the company, valued at approximately $2,586,501. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis J. Martin sold 47,734 shares of Federal Signal stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $30.37, for a total transaction of $1,449,681.58. Following the transaction, the director now owns 206,518 shares in the company, valued at approximately $6,271,951.66. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $3,538,690 in the last quarter. Corporate insiders own 4.00% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Optimum Investment Advisors purchased a new position in shares of Federal Signal during the 3rd quarter worth $33,000. Point72 Asset Management L.P. bought a new stake in shares of Federal Signal during the 2nd quarter valued at $40,000. Parallel Advisors LLC raised its position in shares of Federal Signal by 43.8% during the 2nd quarter. Parallel Advisors LLC now owns 2,300 shares of the conglomerate’s stock valued at $62,000 after purchasing an additional 700 shares during the period. Nordea Investment Management AB bought a new stake in shares of Federal Signal during the 1st quarter valued at $133,000. Finally, Contravisory Investment Management Inc. bought a new stake in shares of Federal Signal during the 3rd quarter valued at $145,000. Institutional investors and hedge funds own 88.97% of the company’s stock.

About Federal Signal

Federal Signal Corporation, together with its subsidiaries, designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally. It operates through two segments, Environmental Solutions Group and Safety and Security Systems Group.

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