Zacks Investment Research upgraded shares of Federal Signal (NYSE:FSS) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $37.00 target price 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 downgraded Federal Signal from a buy rating to a hold rating in a research note on Thursday, August 1st.
Federal Signal (NYSE:FSS) last posted its quarterly earnings results on Thursday, October 31st. The conglomerate reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. The firm had revenue of $308.80 million during the quarter, compared to the consensus estimate of $309.06 million. Federal Signal had a return on equity of 18.45% and a net margin of 9.37%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. On average, equities research analysts anticipate that Federal Signal will post 1.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Wednesday, November 13th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.96%. Federal Signal’s payout ratio is 22.38%.
In other news, VP Svetlana Vinokur sold 10,818 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $32.30, for a total value of $349,421.40. Following the completion of the sale, the vice president now directly owns 23,774 shares of the company’s stock, valued at $767,900.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ian A. Hudson sold 45,087 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $32.04, for a total value of $1,444,587.48. Following the completion of the sale, the chief financial officer now directly owns 48,974 shares of the company’s stock, valued at $1,569,126.96. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new stake in shares of Federal Signal in the third quarter valued at approximately $33,000. Point72 Asset Management L.P. acquired a new stake in shares of Federal Signal in the second quarter valued at approximately $40,000. Parallel Advisors LLC lifted its position in shares of Federal Signal by 43.8% in the second quarter. Parallel Advisors LLC now owns 2,300 shares of the conglomerate’s stock valued at $62,000 after buying an additional 700 shares during the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Federal Signal in the third quarter valued at approximately $145,000. Finally, First Mercantile Trust Co. lifted its position in shares of Federal Signal by 11.6% in the third quarter. First Mercantile Trust Co. now owns 4,901 shares of the conglomerate’s stock valued at $160,000 after buying an additional 508 shares during the last quarter. 89.45% of the stock is owned by 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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