Federal Signal (NYSE:FSS) Rating Lowered to Hold at ValuEngine

Federal Signal (NYSE:FSS) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

Separately, Zacks Investment Research lowered Federal Signal from a “buy” rating to a “hold” rating in a research note on Wednesday, July 3rd.

NYSE FSS traded up $0.08 on Thursday, reaching $31.23. 621,443 shares of the company were exchanged, compared to its average volume of 285,315. The firm has a fifty day simple moving average of $27.04. The company has a market cap of $1.70 billion, a PE ratio of 21.84 and a beta of 1.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.08 and a quick ratio of 1.05. Federal Signal has a fifty-two week low of $18.59 and a fifty-two week high of $32.80.

Federal Signal (NYSE:FSS) last released its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.09. The company had revenue of $324.30 million for the quarter, compared to analyst estimates of $305.40 million. Federal Signal had a return on equity of 17.57% and a net margin of 8.85%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. Research analysts anticipate that Federal Signal will post 1.57 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan raised its position in Federal Signal by 1.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 17,990 shares of the conglomerate’s stock valued at $481,000 after purchasing an additional 330 shares during the period. Oregon Public Employees Retirement Fund raised its position in Federal Signal by 1.7% in the second quarter. Oregon Public Employees Retirement Fund now owns 23,730 shares of the conglomerate’s stock valued at $635,000 after purchasing an additional 400 shares during the period. Mason Street Advisors LLC raised its position in Federal Signal by 3.3% in the first quarter. Mason Street Advisors LLC now owns 19,317 shares of the conglomerate’s stock valued at $502,000 after purchasing an additional 609 shares during the period. Arizona State Retirement System raised its position in Federal Signal by 0.8% in the second quarter. Arizona State Retirement System now owns 93,520 shares of the conglomerate’s stock valued at $2,502,000 after purchasing an additional 732 shares during the period. Finally, Piedmont Investment Advisors Inc. raised its position in Federal Signal by 5.3% in the first quarter. Piedmont Investment Advisors Inc. now owns 15,085 shares of the conglomerate’s stock valued at $392,000 after purchasing an additional 764 shares during the period. 89.04% of the stock is currently owned by institutional investors.

About Federal Signal

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.

See Also: Accumulation/Distribution

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