Federal Signal (NYSE:FSS) Lifted to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Federal Signal (NYSE:FSS) from a hold rating to a strong-buy rating in a research note released on Friday morning, Zacks.com reports. The firm currently has $36.00 price objective on the conglomerate’s stock.

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.

Shares of FSS stock traded down $1.02 during trading hours on Friday, hitting $29.03. The company’s stock had a trading volume of 2,089 shares, compared to its average volume of 306,563. The stock has a fifty day moving average of $27.12. The firm has a market capitalization of $1.81 billion, a PE ratio of 20.53 and a beta of 1.58. Federal Signal has a twelve month low of $18.59 and a twelve month high of $32.80. The company has a current ratio of 2.21, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39.

Federal Signal (NYSE:FSS) last released its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.55 EPS for the quarter, beating the consensus estimate of $0.46 by $0.09. The business had revenue of $324.30 million for the quarter, compared to analyst estimates of $305.40 million. Federal Signal had a net margin of 9.11% and a return on equity of 17.99%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 earnings per share. On average, analysts anticipate that Federal Signal will post 1.73 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, August 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.10%. Federal Signal’s dividend payout ratio (DPR) is currently 22.38%.

A number of hedge funds and other institutional investors have recently made changes to their positions in FSS. Parallel Advisors LLC acquired a new stake in Federal Signal during the first quarter worth approximately $42,000. Advisors Asset Management Inc. acquired a new stake in Federal Signal during the first quarter worth approximately $56,000. First Interstate Bank acquired a new stake in Federal Signal during the first quarter worth approximately $74,000. Quantamental Technologies LLC acquired a new stake in Federal Signal during the first quarter worth approximately $111,000. Finally, Nordea Investment Management AB acquired a new position in shares of Federal Signal in the 1st quarter valued at $133,000. Hedge funds and other institutional investors own 89.01% of the company’s stock.

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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