Zacks Investment Research Upgrades Federal Signal (FSS) to Strong-Buy
Federal Signal (NYSE:FSS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $22.00 target price on the conglomerate’s stock. Zacks Investment Research‘s price target indicates a potential upside of 14.46% from the stock’s previous close.
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 research note on Friday, December 1st. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $21.00.
In other Federal Signal news, Director James E. Goodwin sold 10,000 shares of Federal Signal stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $20.67, for a total value of $206,700.00. Following the completion of the sale, the director now directly owns 122,929 shares of the company’s stock, valued at approximately $2,540,942.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brenda Reichelderfer sold 8,279 shares of Federal Signal stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $20.76, for a total transaction of $171,872.04. Following the completion of the sale, the director now directly owns 69,388 shares of the company’s stock, valued at $1,440,494.88. The disclosure for this sale can be found here. Insiders sold a total of 65,000 shares of company stock valued at $1,348,940 over the last ninety days. 4.20% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in FSS. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Federal Signal by 993.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,133,385 shares of the conglomerate’s stock worth $66,678,000 after acquiring an additional 2,846,707 shares during the period. FMR LLC grew its stake in Federal Signal by 104.4% in the 2nd 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 during the period. Eagle Asset Management Inc. purchased a new stake in Federal Signal in the 3rd quarter worth approximately $6,833,000. Macquarie Group Ltd. grew its stake in Federal Signal by 14.0% in the 3rd quarter. Macquarie Group Ltd. now owns 1,299,374 shares of the conglomerate’s stock worth $27,651,000 after acquiring an additional 159,995 shares during the period. Finally, Shell Asset Management Co. grew its stake in Federal Signal by 176.8% in the 3rd quarter. Shell Asset Management Co. now owns 207,370 shares of the conglomerate’s stock worth $2,746,000 after acquiring an additional 132,447 shares during the period. 84.15% of the stock is owned by hedge funds and other institutional investors.
WARNING: “Zacks Investment Research Upgrades Federal Signal (FSS) to Strong-Buy” was posted by Daily Political and is the property of of Daily Political. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://www.dailypolitical.com/2018/02/07/zacks-investment-research-upgrades-federal-signal-fss-to-strong-buy.html.
About Federal Signal
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Federal Signal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Federal Signal and related companies with MarketBeat.com's FREE daily email newsletter.