Federal Signal (NYSE:FSS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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 lowered shares of Federal Signal from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $22.50.
Shares of Federal Signal (FSS) traded down $0.05 during midday trading on Thursday, hitting $20.40. 153,364 shares of the stock traded hands, compared to its average volume of 260,911. Federal Signal has a 52-week low of $13.07 and a 52-week high of $23.64. The firm has a market capitalization of $1,237.47, a price-to-earnings ratio of 26.79 and a beta of 1.30. The company has a quick ratio of 1.23, a current ratio of 2.37 and a debt-to-equity ratio of 0.67.
Federal Signal (NYSE:FSS) last announced its quarterly earnings data on Thursday, November 2nd. The conglomerate reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.03. Federal Signal had a net margin of 5.30% and a return on equity of 11.39%. The firm had revenue of $249.00 million for the quarter, compared to analyst estimates of $240.30 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. 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 company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $20.67, for a total value of $206,700.00. Following the sale, the director now owns 122,929 shares in the company, valued at approximately $2,540,942.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brenda Reichelderfer sold 45,721 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $20.76, for a total transaction of $949,167.96. The disclosure for this sale can be found here. Insiders sold a total of 110,172 shares of company stock worth $2,338,207 in the last 90 days. 4.20% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of 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 last quarter. Algert Global LLC bought a new stake in Federal Signal in the 3rd quarter worth about $1,054,000. Pinebridge Investments L.P. grew its position in Federal Signal by 701.4% in the 3rd 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 in the last quarter. Brown Advisory Inc. grew its position in Federal Signal by 6.3% in the 3rd quarter. Brown Advisory Inc. now owns 1,252,470 shares of the conglomerate’s stock worth $26,653,000 after purchasing an additional 74,006 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Federal Signal by 8.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 421,390 shares of the conglomerate’s stock worth $8,968,000 after purchasing an additional 33,371 shares in the last quarter. Institutional investors own 84.12% of the company’s stock.
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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