Federal Signal Corporation (FSS) Upgraded 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 report issued on Thursday. They currently have $21.00 price target 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. “
Separately, BidaskClub upgraded shares of Federal Signal Corporation from a hold rating to a buy rating in a research report on Tuesday, July 11th. Four research analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average price target of $20.50.
Shares of Federal Signal Corporation (NYSE FSS) opened at 19.98 on Thursday. The company has a market cap of $1.20 billion, a PE ratio of 30.50 and a beta of 1.36. The company has a 50 day moving average of $18.56 and a 200-day moving average of $16.44. 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 released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $206.53 million. During the same period last year, the firm earned $0.17 earnings per share. The company’s quarterly revenue was up 30.2% on a year-over-year basis. Equities research analysts anticipate that Federal Signal Corporation will post $0.79 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Tuesday, August 15th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 11th. This represents a $0.28 annualized dividend and a dividend yield of 1.40%. Federal Signal Corporation’s payout ratio is 42.42%.
Hedge funds have recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Federal Signal Corporation by 12,320.0% during the 2nd quarter. IFP Advisors Inc now owns 6,831 shares of the conglomerate’s stock valued at $119,000 after purchasing an additional 6,776 shares during the period. Pinebridge Investments L.P. grew its stake in Federal Signal Corporation by 1.1% during the second quarter. Pinebridge Investments L.P. now owns 7,876 shares of the conglomerate’s stock valued at $137,000 after acquiring an additional 86 shares in the last quarter. Karp Capital Management Corp purchased a new position in Federal Signal Corporation during the first quarter valued at $162,000. State of Alaska Department of Revenue grew its stake in Federal Signal Corporation by 79.2% during the second quarter. State of Alaska Department of Revenue now owns 11,807 shares of the conglomerate’s stock valued at $204,000 after acquiring an additional 5,217 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Federal Signal Corporation during the second quarter valued at $205,000. Hedge funds and other institutional investors own 83.71% of the company’s stock.
Federal Signal Corporation Company Profile
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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