Federal Signal Corporation (NYSE:FSS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, November 6th. The firm presently has a $25.00 price target on the conglomerate’s stock. Zacks Investment Research‘s target price suggests a potential upside of 20.31% from the company’s current price.
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, BidaskClub upgraded Federal Signal from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Four analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $22.50.
Federal Signal (NYSE:FSS) last released its quarterly earnings results on Thursday, November 2nd. The conglomerate reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.03. The firm had revenue of $249.00 million during the quarter, compared to analyst estimates of $240.30 million. Federal Signal had a net margin of 5.30% and a return on equity of 11.39%. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 EPS. sell-side analysts anticipate that Federal Signal will post 0.81 EPS for the current year.
In other Federal Signal news, Director Dennis J. Martin sold 45,172 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $21.90, for a total value of $989,266.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brenda Reichelderfer sold 8,279 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $20.76, for a total value of $171,872.04. Following the completion of the sale, the director now owns 69,388 shares in the company, valued at approximately $1,440,494.88. The disclosure for this sale can be found here. Insiders have sold a total of 99,172 shares of company stock worth $2,110,307 in the last 90 days. 4.20% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Pinebridge Investments L.P. boosted its position in Federal Signal by 1.1% during the second quarter. Pinebridge Investments L.P. now owns 7,876 shares of the conglomerate’s stock valued at $137,000 after purchasing an additional 86 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Federal Signal by 3.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 14,080 shares of the conglomerate’s stock worth $244,000 after acquiring an additional 410 shares in the last quarter. Texas Permanent School Fund boosted its holdings in Federal Signal by 1.0% in the second quarter. Texas Permanent School Fund now owns 43,651 shares of the conglomerate’s stock worth $758,000 after acquiring an additional 412 shares in the last quarter. Legal & General Group Plc boosted its holdings in Federal Signal by 0.7% in the first quarter. Legal & General Group Plc now owns 106,247 shares of the conglomerate’s stock worth $1,467,000 after acquiring an additional 766 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Federal Signal by 3.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 42,592 shares of the conglomerate’s stock worth $588,000 after acquiring an additional 1,236 shares in the last quarter. 84.44% of the stock is currently owned by institutional investors.
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About Federal Signal
Federal Signal Corporation designs, manufactures and supplies a suite of products and integrated solutions for municipal, governmental, industrial and commercial customers. The Company’s segments include the Environmental Solutions Group and the Safety and Security Systems Group. Its Environmental Solutions Group manufactures and supplies a range of street sweeper vehicles, sewer cleaner and vacuum loader trucks, hydro-excavation trucks and waterblasting equipment.
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