Federal Signal Corporation (FSS) Rating Increased to Buy at Zacks Investment Research
Federal Signal Corporation (NYSE:FSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $21.00 target price on the conglomerate’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.82% from the company’s current price.
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. “
Separately, BidaskClub raised shares of Federal Signal Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Four investment analysts have rated the stock with a buy rating, Federal Signal Corporation currently has a consensus rating of “Buy” and a consensus target price of $20.50.
Shares of Federal Signal Corporation (FSS) traded down 0.97% during midday trading on Thursday, hitting $18.29. 326,032 shares of the company were exchanged. The company has a 50-day moving average of $18.43 and a 200 day moving average of $16.29. The company has a market capitalization of $1.10 billion, a P/E ratio of 27.92 and a beta of 1.36. Federal Signal Corporation has a one year low of $11.68 and a one year high of $20.13.
Federal Signal Corporation (NYSE:FSS) last posted its quarterly earnings data on Tuesday, August 8th. The conglomerate reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Federal Signal Corporation had a net margin of 5.20% and a return on equity of 10.59%. The business had revenue of $224.40 million during the quarter, compared to analysts’ expectations of $206.53 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. Federal Signal Corporation’s revenue was up 30.2% compared to the same quarter last year. On average, equities research analysts expect that Federal Signal Corporation will post $0.79 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of FSS. BlackRock Inc. raised its stake 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 worth $101,863,000 after acquiring an additional 7,359,728 shares in the last quarter. FMR LLC raised its stake in Federal Signal Corporation by 104.4% during the second quarter. FMR LLC now owns 1,591,319 shares of the conglomerate’s stock worth $27,625,000 after acquiring an additional 812,669 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Federal Signal Corporation by 43.1% during the first quarter. Goldman Sachs Group Inc. now owns 2,394,279 shares of the conglomerate’s stock worth $33,065,000 after acquiring an additional 721,473 shares in the last quarter. Franklin Resources Inc. raised its stake 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 worth $91,659,000 after acquiring an additional 391,353 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Federal Signal Corporation by 5.2% during the first quarter. Vanguard Group Inc. now owns 3,093,986 shares of the conglomerate’s stock worth $42,728,000 after acquiring an additional 152,335 shares in the last quarter. 83.71% of the stock is owned by hedge funds and other institutional investors.
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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