Federal Signal (NYSE:FSS) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Federal Signal (NYSE:FSS) from a buy rating to a hold rating in a research report sent to investors on Friday, Zacks.com reports.

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 research report on Thursday, August 1st.

NYSE FSS opened at $33.39 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.17 and a current ratio of 2.21. The firm has a 50-day simple moving average of $31.94 and a 200 day simple moving average of $28.40. Federal Signal has a twelve month low of $18.59 and a twelve month high of $34.12. The stock has a market cap of $2.03 billion, a PE ratio of 23.35 and a beta of 1.60.

Federal Signal (NYSE:FSS) last released its earnings results on Wednesday, July 31st. The conglomerate reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.09. Federal Signal had a net margin of 9.11% and a return on equity of 17.99%. The business had revenue of $324.30 million during the quarter, compared to analysts’ expectations of $305.40 million. During the same quarter last year, the company earned $0.45 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. Research analysts forecast that Federal Signal will post 1.72 earnings per share for the current fiscal year.

In related news, Director Dennis J. Martin sold 47,734 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $30.37, for a total value of $1,449,681.58. Following the completion of the transaction, the director now owns 206,518 shares of the company’s stock, valued at $6,271,951.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Svetlana Vinokur sold 10,818 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $32.30, for a total transaction of $349,421.40. Following the completion of the transaction, the vice president now directly owns 23,774 shares of the company’s stock, valued at approximately $767,900.20. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $3,538,690 in the last three months. Company insiders own 4.00% of the company’s stock.

A number of large investors have recently bought and sold shares of FSS. Optimum Investment Advisors acquired a new position in Federal Signal in the third quarter worth about $33,000. Point72 Asset Management L.P. acquired a new position in Federal Signal in the second quarter worth about $40,000. Parallel Advisors LLC raised its position in Federal Signal by 43.8% in the second quarter. Parallel Advisors LLC now owns 2,300 shares of the conglomerate’s stock worth $62,000 after purchasing an additional 700 shares in the last quarter. Nordea Investment Management AB acquired a new position in Federal Signal in the first quarter worth about $133,000. Finally, Contravisory Investment Management Inc. acquired a new position in Federal Signal in the third quarter worth about $145,000. 88.98% of the stock is owned by hedge funds and other institutional investors.

Federal Signal Company Profile

Federal Signal Corporation, together with its subsidiaries, designs, manufactures, and supplies a suite of products and integrated solutions for municipal, governmental, industrial, and commercial customers in the United States, Canada, Europe, and internationally. It operates through two segments, Environmental Solutions Group and Safety and Security Systems Group.

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