Zacks Investment Research Downgrades Federal Signal (FSS) to Hold

Federal Signal (NYSE:FSS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

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 Federal Signal from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $22.50.

Federal Signal (FSS) opened at $20.26 on Thursday. The company has a current ratio of 2.37, a quick ratio of 1.23 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1,223.67, a price-to-earnings ratio of 26.49 and a beta of 1.30. Federal Signal has a 12-month low of $13.07 and a 12-month high of $23.64.

Federal Signal (NYSE:FSS) last posted its quarterly earnings data on Thursday, November 2nd. The conglomerate reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.03. The firm had revenue of $249.00 million for the quarter, compared to analysts’ expectations of $240.30 million. Federal Signal had a return on equity of 11.39% and a net margin of 5.30%. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.17 EPS. sell-side analysts forecast that Federal Signal will post 0.81 earnings per share for the current fiscal year.

In related news, Director James E. Goodwin sold 10,000 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $20.67, for a total value of $206,700.00. Following the transaction, the director now owns 122,929 shares in the company, valued at $2,540,942.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis J. Martin sold 45,172 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $21.90, for a total value of $989,266.80. The disclosure for this sale can be found here. Insiders sold 110,172 shares of company stock worth $2,338,207 in the last 90 days. 4.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Federal Signal by 993.0% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,133,385 shares of the conglomerate’s stock worth $66,678,000 after purchasing an additional 2,846,707 shares during the period. Algert Global LLC bought a new position in shares of Federal Signal in the third quarter worth $1,054,000. Pinebridge Investments L.P. increased its position in shares of Federal Signal by 701.4% in the third quarter. Pinebridge Investments L.P. now owns 63,121 shares of the conglomerate’s stock worth $1,344,000 after purchasing an additional 55,245 shares during the period. Brown Advisory Inc. grew its position in Federal Signal by 6.3% in the third quarter. Brown Advisory Inc. now owns 1,252,470 shares of the conglomerate’s stock valued at $26,653,000 after acquiring an additional 74,006 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Federal Signal by 8.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 421,390 shares of the conglomerate’s stock valued at $8,968,000 after acquiring an additional 33,371 shares during the last quarter. Institutional investors own 84.12% of the company’s stock.

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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.

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