Zacks Investment Research Upgrades Federal Signal Co. (FSS) to Hold

Federal Signal Co. (NYSE:FSS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Federal Signal Corporation is a manufacturer and worldwide supplier of safety, signaling and communications equipment, hazardous area lighting, fire rescue products, street sweeping and vacuum loader vehicles, parking control equipment, custom on-premise signage, carbide cutting tools, precision punches and related die components. “

Separately, Seaport Global Securities raised shares of Federal Signal from an “accumulate” rating to a “buy” rating in a research note on Wednesday, February 1st.

Federal Signal (NYSE:FSS) opened at 13.54 on Monday. The firm has a 50-day moving average of $14.82 and a 200 day moving average of $14.57. Federal Signal has a 52-week low of $11.68 and a 52-week high of $16.65. The company has a market capitalization of $808.62 million, a P/E ratio of 19.02 and a beta of 1.53.

Federal Signal (NYSE:FSS) last announced its quarterly earnings data on Tuesday, February 28th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.16. The firm earned $176.10 million during the quarter, compared to analyst estimates of $189.80 million. Federal Signal had a net margin of 5.95% and a return on equity of 11.98%. Federal Signal’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Equities analysts predict that Federal Signal will post $0.74 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 10th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, March 8th. Federal Signal’s dividend payout ratio (DPR) is presently 40.58%.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Federal Signal by 3.7% in the third quarter. BlackRock Inc. now owns 17,234 shares of the company’s stock valued at $228,000 after buying an additional 609 shares during the period. Airain ltd bought a new position in shares of Federal Signal during the third quarter valued at $167,000. JPMorgan Chase & Co. raised its position in shares of Federal Signal by 32.8% in the third quarter. JPMorgan Chase & Co. now owns 839,625 shares of the company’s stock valued at $11,134,000 after buying an additional 207,562 shares during the period. Granite Investment Partners LLC acquired a new position in Federal Signal during the third quarter valued at approximately $5,998,000. Finally, UBS Asset Management Americas Inc. raised its position in Federal Signal by 11.6% in the third quarter. UBS Asset Management Americas Inc. now owns 42,200 shares of the company’s stock valued at $560,000 after buying an additional 4,400 shares during the last quarter. 84.52% of the stock is owned by institutional investors.

About Federal Signal

Federal Signal Corporation designs and manufactures products and integrated solutions for municipal governmental industrial and commercial customers. The Company operates through two segments: Environmental Solutions Group, and Safety and Security Systems Group. Environmental Solutions Group is manufacturer and supplier of a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.

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