Federal Signal Corporation (FSS) Lowered to “Hold” at Zacks Investment Research

Federal Signal Corporation (NYSE:FSS) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, August 7th.

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. “

FSS has been the subject of a number of other reports. BidaskClub lowered Federal Signal Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. KeyCorp upgraded Federal Signal Corporation from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Tuesday, May 9th. Finally, TheStreet upgraded Federal Signal Corporation from a “c” rating to a “b-” rating in a research note on Thursday, April 27th. Four equities research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus price target of $20.50.

Federal Signal Corporation (NYSE:FSS) traded down 0.27% during mid-day trading on Monday, hitting $18.36. 373,504 shares of the stock were exchanged. The company has a 50 day moving average price of $18.17 and a 200 day moving average price of $16.01. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 28.03 and a beta of 1.37. Federal Signal Corporation has a 52 week low of $11.68 and a 52 week high of $20.13.

Federal Signal Corporation (NYSE:FSS) last announced its earnings results on Tuesday, August 8th. The conglomerate reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Federal Signal Corporation had a return on equity of 10.59% and a net margin of 5.20%. The firm 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 earned $0.17 earnings per share. The company’s revenue was up 30.2% on a year-over-year basis. Analysts expect that Federal Signal Corporation will post $0.79 EPS for the current fiscal year.

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In other news, Director Paul W. Jones sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $15.96, for a total transaction of $798,000.00. Following the sale, the director now owns 72,901 shares of the company’s stock, valued at $1,163,499.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Samuel Miceli sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $16.05, for a total value of $32,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,900 shares of company stock worth $844,662. Company insiders own 4.20% of the company’s stock.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Federal Signal Corporation by 45,296.2% in the first quarter. BlackRock Inc. now owns 7,375,976 shares of the conglomerate’s stock worth $101,863,000 after buying an additional 7,359,728 shares in the last quarter. Norges Bank purchased a new stake in shares of Federal Signal Corporation during the fourth quarter worth about $12,920,000. FMR LLC raised its stake in shares of Federal Signal Corporation by 104.4% in the second quarter. FMR LLC now owns 1,591,319 shares of the conglomerate’s stock worth $27,625,000 after buying an additional 812,669 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Federal Signal Corporation by 43.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,394,279 shares of the conglomerate’s stock worth $33,065,000 after buying an additional 721,473 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Federal Signal Corporation by 8.0% in the second quarter. Franklin Resources Inc. now owns 5,279,934 shares of the conglomerate’s stock worth $91,659,000 after buying an additional 391,353 shares in the last quarter. 81.44% of the stock is currently owned by institutional investors and hedge funds.

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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