Federal Signal (NYSE:FSS) Coverage Initiated at DA Davidson

Equities research analysts at DA Davidson initiated coverage on shares of Federal Signal (NYSE:FSS) in a note issued to investors on Thursday, The Fly reports. The brokerage set a “neutral” rating on the conglomerate’s stock.

FSS has been the subject of several other research reports. Zacks Investment Research downgraded Federal Signal from a “buy” rating to a “hold” rating in a research report on Friday, September 3rd. KeyCorp cut their price objective on Federal Signal from $48.00 to $44.00 and set an “overweight” rating for the company in a research report on Monday, September 27th. Colliers Securities restated a “buy” rating on shares of Federal Signal in a research report on Thursday, July 1st. Finally, Sidoti upgraded Federal Signal from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $44.00 to $50.00 in a research report on Thursday, September 2nd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Federal Signal has a consensus rating of “Buy” and a consensus target price of $46.75.

Shares of Federal Signal stock opened at $40.66 on Thursday. Federal Signal has a 1 year low of $28.03 and a 1 year high of $43.77. The stock has a 50-day moving average price of $39.73 and a 200 day moving average price of $40.19. The company has a current ratio of 2.51, a quick ratio of 1.31 and a debt-to-equity ratio of 0.30. The company has a market cap of $2.48 billion, a P/E ratio of 24.35, a P/E/G ratio of 1.39 and a beta of 1.06.

Federal Signal (NYSE:FSS) last issued its quarterly earnings data on Thursday, July 29th. The conglomerate reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.05. The business had revenue of $334.70 million for the quarter, compared to the consensus estimate of $304.60 million. Federal Signal had a return on equity of 15.02% and a net margin of 8.69%. On average, equities analysts forecast that Federal Signal will post 1.87 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Federal Signal by 1.1% during the second quarter. Vanguard Group Inc. now owns 3,921,143 shares of the conglomerate’s stock worth $157,748,000 after purchasing an additional 42,866 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Federal Signal by 45.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,212,166 shares of the conglomerate’s stock worth $88,995,000 after purchasing an additional 690,725 shares during the period. Macquarie Group Ltd. grew its stake in shares of Federal Signal by 1.8% during the second quarter. Macquarie Group Ltd. now owns 2,003,486 shares of the conglomerate’s stock worth $80,600,000 after purchasing an additional 34,639 shares during the period. State Street Corp grew its stake in Federal Signal by 3.1% in the second quarter. State Street Corp now owns 1,910,615 shares of the conglomerate’s stock valued at $76,864,000 after acquiring an additional 57,425 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Federal Signal by 2.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,846,746 shares of the conglomerate’s stock valued at $70,731,000 after acquiring an additional 38,442 shares during the period. 89.65% of the stock is owned by institutional investors and hedge funds.

Federal Signal Company Profile

Federal Signal Corp. engages in the designed manufacture of products and integrated solutions for municipal, governmental, industrial, and commercial customers. It operates through the Environmental Solutions Group and Safety and Security Systems Group segments. The Environment Solutions Group segment involves in the manufacture and supply of street sweeper vehicles, sewer cleaner, vacuum loader trucks, hydro-excavation trucks, and water blasting equipment.

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